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