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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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| the demographic characteristics of the population and its values. |
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| describe a population according to selected characteristics such as age, gender, ethnicity, income, and occupation. |
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| consist of the generation of children born between 1946 and 1964 |
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| includes the 15 percent of the population born between 1965 and 1976. Also called baby bust. |
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| includes the 72 million Americans born between 1977 and 1994. Also called echo-boom or baby boomlet |
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| is a family formed by merging two previously separated units into a single household. |
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| consists of combinations of the marketing mix that reflect the unique attitudes, ancestry, communication preferences, and lifestyles of different races. |
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| consists of the set of values, ideas, and attitudes that are learned and shared among the members of a group. |
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| the concern for obtaining the best quality, features, and performance of a product or service for a given price that drives consumption behavior. |
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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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| the total amount of money made in one year by a person, household, or family unit. Also known as money income at the Census Bureau. |
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| the money a consumer has left after paying taxes to use for necessities such as food, housing, clothing, and transportation. |
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| is the money that remains after paying for taxes and necessities. |
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| consists of the inventions or innovations from applied science or engineering research. |
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| an information- and communication-based electronic exchange environment mostly occupied by sophisticated computer and telecommunication technologies and digitized offerings. |
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| 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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| consists of the alternative firms that could provide a product to satisfy a specific market’s needs. |
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| business practices or conditions that make it difficult for new firms to enter the market. |
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| consists of the restrictions state and federal laws place on business with regard to the conduct of its activities |
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| a grassroots movement started in the 1960s to increase the influence, power, and rights of consumers in dealing with institutions. |
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| an alternative to government control where an industry attempts to police itself |
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| environmental forces affect: |
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Definition
| the organization, its suppliers, and its customers |
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| types of environmental forces |
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Definition
| social, economic, technological, competitive, regulatory |
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demographics-population, generational cohorts, american household, population shifts, racial and ethnic diversity,
culture |
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macroeconomic- inflation, recession
consumer income- gross, disposable, discretionary |
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technology of tomorrow- social networks, biotechnology, etc.
impact on customer value- plummeting costs, new products, productions of existing products
electronic business technologies- marketspace, electronic commers, intranet, extranet |
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alternative forms of competition- pure, monopolistic, oligopoly, pure monopoly
components-barrier to entry, power of buyers and supplies, existing competitors and substitutes, small business as competitors |
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protecting competition- sherman antitrust, clayton, robinson-patman
product-related- patent law, copyfright law, nutritional labeling, consumer product safety commission, etc.
price-related- price fixing, price discounting,
distribution-related- exclusive dealing, requirement contracts, exclusive territorial distributorships, tying arrangement
advertising and promotion related- control through self regulation, do not call registry, ftc act of 1914 (cease and desist order, corrective advertising) |
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