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26 Cards in this Set
- Front
- Back
- 3rd side (hint)
Environmental scanning |
Identifying and interpreting trends outside the firm |
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Social |
Demographic properties of a population and it's culture |
One of the five Environmental Forces |
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Economic |
Income, expenses, financing |
One of the five Environmental Forces |
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Technological |
Innovations in applied science and engineering |
One of the five Environmental Forces |
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Competitive |
Other firms fulfilling the same needs |
One of the five Environmental Forces |
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Regulations |
Government restrictions |
One of the five Environmental Forces |
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Demographics |
Objective characteristics of a group |
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Baby Boomers |
46-64 wealthy, health conscious, retirement housing, image |
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Blended family |
Step family from remarriage |
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Generational Marketing |
Targeting trends within different sets of generations |
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Multicultural marketing |
Race specific marketing |
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Culture |
A set of shared attitudes, beliefs a d behavior |
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Value Consciousness |
When consumers weigh between quantity, quality, features, ect with price |
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Gross income |
Household, family or individual income |
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Disposable income |
Gross income - necessary expenses |
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Discretionary income |
Gross income - disposable income |
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Precycling |
Efforts for manufactures or consumers to reduce waste |
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Monopolistic competition |
One seller. One product. Many alternatives |
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Oligopoly |
Few sellers. One product |
Telecommunications |
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Pure competition |
Many sellers. One product |
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Barriers to entry |
Obstacles of a new firm to enter the market |
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Consumerism |
60s movement to shift power to the consumer |
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Generic |
Lost trademark open to public use |
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Trade feedback effect |
increase exports> increase gdp> increase demand for imports |
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Countertrade |
Global market bartering |
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GDP |
Gross Domestic Product |
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