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Comm 204 > Module 2: The Marketing Environment > Flashcards

Module 2: The Marketing Environment Flashcards

1
Q

includes all the external forces that could affect the success of future marketing programs

A

marketing environment

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2
Q

the 6 marketing enviro forces

A 
demographic
socio-cultural
economic
technological
competitive
regulatory
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3
Q

environmental scan is continually acquiring info on events that happen outside the org to identify… (3)

A

trends
opportunities
threats to a business

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4
Q

marketers use the info from an environmental scan to make sure their product is (2)

A

relevant and competitive

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5
Q

looking at countable characteristics of ppl like age, gender, ethnicity, income, job, etc.

A

demographic force

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6
Q

what is the largest generational cohort in Canada

A

Baby boomers and millennials

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7
Q

socio-cultural forces include (3)

A

cultural values, ideas and attitudes

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8
Q

using mobile devices in store to check competitive online product reviews and prices then purchasing cheaper product online

A

showrooming

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9
Q

why do marketers scan the marketing envrio

A

it is always changing and changing fast

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10
Q

related to the state of the economy as a whole

A

macroeconomics

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11
Q

related to supply and demand and individual buying power

A

microeconomics

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12
Q

involved with inflation, unemployment, economic growth, consumer confidence and interest rates

A

macroeconomics

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13
Q

if interest rates are high ppl tend to

A

try sand save money

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14
Q

if interest rates are low ppl tend to

A

spend/borrow more money

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15
Q

money left after paying taxes for food, clothing, shelter

A

disposable income

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16
Q

money left after paying for taxes and necessities

A

discretionary income

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17
Q

consumers spend more on affordable luxuries than big ticket items when economy is weak

A

lipstick effect

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18
Q

innovations that stem from scientific and engineering research

A

technological forces

19
Q

4 types of technologies that have changed the marketing enviro

A

e-commerce
cloud-based services
trackers
mobile payment

20
Q

marketers must understand who _____ are and how ______ when developing marketing strategies

A
  • competitors

- competitive the industry is

21
Q

pepsi and coke are examples of

A

direct competitors

22
Q

pepsi and San pellegrino water are

A

indirect competitors

23
Q

competition is non-existent

A

monopoly

24
Q

small number of competitors

A

oligopoly

25
Q

larger # of competitors selling similar products

A

monopolistic competition

26
Q

market with many sellers selling identical products

A

perfect competition

27
Q

marketers must be aware of _____ placed on marketing practices by the government and industry associations

A

restrictions

28
Q

helps set standards of acceptable broadcast standards and regulates the telecommunication industry

A

CRTX

29
Q

the CASL is an

A

anti-spam legislation

30
Q

tracking consumers online browser activity to deliver ads that correspond to their browsing interests

A

OBA

31
Q

independent law-enforcement agency that ensures that the market in Canada is competitive and innovative

A

The Competition Bureau

32
Q

failure to abide by the _____ rules can result in fines or jail time

A

Competition Bureau

33
Q

guides its practices through its code of ethics and standards of practice

A

Canadian Marketing Association (CMA)

34
Q

federal legislation for the private sector falls under _____ and is reviewed by the gov

A

PIPEDA

35
Q

PIPEDA stands for

A

personal information protection and electronic documents act

36
Q

PIPEDA is reviewed by the gov every ____ years to ensure it remains current and actionable with tech

A

5

37
Q

requires consent and disclosure info from individuals

A

PIPEDA

38
Q

are conducted routinely to ensure products and marketing approaches stay relevant and resonate with consumers

A

environmental scans

39
Q

environmental scans are usually conducted…

A

annually

40
Q

3 steps to an environmental scan

A
  1. collect facts and identify trends
  2. determine the impact of these facts and trends on the business
  3. brainstorm, evaluate, and implement ideas to meet business objectives
41
Q

SWOT stands for

A

strengths, weaknesses, opportunities, threats

42
Q

used to set future direction for a business to lay groundwork for competitive market programs

A

SWOT analysis

43
Q

SWOT is used to help marketers better understand their _____ and align their ________

A

enviro

marketing strategy

44
Q

how does enviro scan differ from swot analysis

A

enviro scan focuses on external enviro and swot focuses on external and internal enviro

Comm 204 (7 decks)

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