Term
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Definition
| Sets out the organization's basic purpose for being. |
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Term
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Definition
| The number and types of competitors the marketing manager must face, and how they may behave. |
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Term
| Sustainable Competitive Advantage |
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Definition
| A marketing mix that customers see as better than a competitor's mix and cannot be quickly or easily copied. |
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Term
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Definition
| An organized approach for evaluating the strengths and weaknesses of current or potential competitors' marketing strategies. |
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Term
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Definition
| A firm's closest competitors. |
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Term
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Definition
| An organized table that compares the strengths and weaknesses of a company with those of its competitive rivals. |
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Term
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Definition
| Refers to macro-economic factors including national income, economic growth, and inflation that affect patterns of consumer and business spending. |
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Term
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Definition
| The application of science to convert an economy's resources to output. |
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Term
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Definition
| An emphasis on a country's interests before everything else. |
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Term
| North American Free Trade Agreement (NAFTA) |
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Definition
| Lays out a plan to reshape the rules of trade among the United States, Canada, and Mexico. |
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Term
| Cultural & Social Environment |
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Definition
| Affects how and why people live and behave as they do. |
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Term
| Gross Domestic Product (GDP) |
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Definition
| The total market value of all goods and services provided in a country's economy in a year by both residents and nonresidents of that country. |
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Term
| Gross National Income (GNI) |
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Definition
| A measure that is similar to GDP, but GNI does not include income earned by foreigners who own resources in that nation. |
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Term
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Definition
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Term
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Definition
| People born between 1946 & 1964. |
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Term
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Definition
| People born between 1965 & 1977. |
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Term
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Definition
| People born between 1978 & 1994. |
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Term
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Definition
| The idea that it's important to meet present needs without compromising the ability of future generations to meet their own needs. |
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