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13 Cards in this Set

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  • Back
What does the marketing envirnoment consist of?
all factors external to an organization that can affect the organization's marketing activities.
Why do firms use market scanning?
To identify important trends and determine whether the represent the present or future market opportunities or threats.
What does the social environment include?
All factors and trends related to groups of people
What does the econimic environment include?
Factors and trends related to income levels and the production of goods and services.
What does the gross domestics product (GDP) represent?
The total size of a country's economy measured in the amount of goods and services produced.
What does the political/legal environment encompass?
Factors and trends related to governmental activities and specific laws and regulations that affect marketing practice.
What does the technological environment include?
Factors and trends related to innovations that affect the development of new products or the market process.
What does the competitive market consist of?
All the organizations that attempt to serve similar customers.
What is the institutional environment?
All the organizations involved in marketing products and services.
What are the 6 marketing environments?
Social
Economic
Political/Legal
Technological
Competitive
Institutional
What is the NAFTA?
National American Free Trade Agreement
What is GATT?
General Agreement on Trade and Tarriffs
Who is included in the institutional environment?
wholesalers, retailers, customers, suppliers, ad agencies.