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20 Cards in this Set
- Front
- Back
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Environmental Scanning
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the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends |
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Social Forces
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demographic characteristics of the population and its values |
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Demographics
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characteristics such as age gender ethnicity income and occupation |
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Baby Boomers |
Retire at rate of 10000 every 24 hours |
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Gen X |
includes 15% of population born between 65-76 |
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Gen Y |
include 72 million americans born between 77-94 |
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Blended Family |
one formed by merging two previously separated units into a single household |
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Multicultural Marketing |
programs which are combinations of the marketing mix that reflect the unique attitudes ancestry communication preferences and lifestyles of different races |
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Value Consciousness
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the concern for obtaining the best quality features and performance of a product or service for a given price
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Economy
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pertains to the income expenditures and resources that affect the cost of running a business and household |
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Gross Income |
total amount made in one year |
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Disposable Income |
is the money a consumer has left after paying taxes to use for necessities |
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Discretionary Income |
money that remains after paying taxes and necessities |
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Technology |
third environmental force refers to inventions or innovations from applied science or engineering research |
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Marketspace |
an info and communication based electronic exchange environment mostly occupied by sophisticated computer and telecommunication technologies and digitalized offerings |
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Electronic Commerce |
any activity that uses some form of electronic communication in the inventory exchange advertisement distribution and payment of goods and services |
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Barriers to Entry |
business practices or conditions that make it difficult for new firms to enter the market
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Regulation
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consists of restrictions state and federal laws place on business with regard to the conduct of its activities |
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Consumerism
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a grassroots movement started in the 60's to increase the influence of power and rights of consumers in dealing wit institutions |
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Self Regulation |
an alternative to government control were an industry attempts to police itself
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