Chapter 3 Flashcards
What is environmental scanning?
The process of acuring information on events outside the organizzation to indentify and interpret potential trends?
What are social forces?
The demographic characteristics and the culture of the populace
What are demographics?
description of a population according to characteristics, such as age, ender ethnicity, income, and occupation
What countries is population growth most prominent?
Developing nations
What are the demographic trends in the us?
The pop is becoming larger, older, and more diverse
What are the generational cohorts?
Baby Boomers, Gen X, and Gen Y
The generation of children born between 46-64?
Baby Boomers
Members of U.S. pop born 65-76
Gen X
born between 77-94
Gen Y
What is multicultural marketing?
Marketing programs that reflect unique aspects of different races
What is the set of values, ideas, and attitudes that is learned and shared amoung the members of a group?
culture
What is the economy?
pertains to the income and resources that affect the cost of running a business or household
What are the three main economic areas of interest for marketing
consumer gross, disposable, and discresionary income
What is the marketspace?
An information and communication-bsed electronic exchange occupied by digitized offrings
What is competition?
Alternative firms that could provide a product to satisfy a specific market’s needs
Who makes up the majority of the competitive landscape?
small businesses
What are the technological impacts on customer value?
- Plummeting Costs
* New Products
What is regulation?
Restrictions that state and federal laws place on business
Consumerism
A movement started to increase the influence power and rights of consumers.
What is moral idealism
A personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome
What is social responsibility?
The idea that organizations are part of a larger society and are accountable to that society for their actions
Cause marketing
tying the charitable contributions of a firm directly to sales produced through the promotion of one of its products
