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26 Cards in this Set

  • Front
  • Back
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Environmental scanning

Identifying and interpreting trends outside the firm

Social

Demographic properties of a population and it's culture

One of the five Environmental Forces

Economic

Income, expenses, financing

One of the five Environmental Forces

Technological

Innovations in applied science and engineering

One of the five Environmental Forces

Competitive

Other firms fulfilling the same needs

One of the five Environmental Forces

Regulations

Government restrictions

One of the five Environmental Forces

Demographics

Objective characteristics of a group

Baby Boomers

46-64 wealthy, health conscious, retirement housing, image

Blended family

Step family from remarriage

Generational Marketing

Targeting trends within different sets of generations

Multicultural marketing

Race specific marketing

Culture

A set of shared attitudes, beliefs a d behavior

Value Consciousness

When consumers weigh between quantity, quality, features, ect with price

Gross income

Household, family or individual income

Disposable income

Gross income - necessary expenses

Discretionary income

Gross income - disposable income

Precycling

Efforts for manufactures or consumers to reduce waste

Monopolistic competition

One seller. One product. Many alternatives

Oligopoly

Few sellers. One product

Telecommunications

Pure competition

Many sellers. One product

Barriers to entry

Obstacles of a new firm to enter the market

Consumerism

60s movement to shift power to the consumer

Generic

Lost trademark open to public use

Trade feedback effect

increase exports> increase gdp> increase demand for imports

Countertrade

Global market bartering

GDP

Gross Domestic Product