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Essentials of Marketing
Chapter 3
4
Marketing
Undergraduate 4
09/13/2010
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Term
direct market environment
 Definition
includes customers, the company, and competitors
Term
external market environment
 Definition
four major areas:
1)economic environment
2)technological environment
3)political and legal environment
4) cultural and social environment
Term
mission statement
 Definition
sets out the organization's basic purpose for being.
Term
competitive environment
 Definition
affects the number and types of competitors the marketing manager must face and how they may behave.
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