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Marketing Chap 3
Marketing Chap 3
14
Marketing
Undergraduate 1
02/24/2007

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Cards

Term
environmental scanning
Definition
Collecting information about the external marketing environment to identify and interpret potential trends.
Term
technological environment
Definition
Application to marketing of knowledge based on discoveries in science, inventions, and innovation
Term
environmental management
Definition
Attainment of organizational objectives by predicting and influencing the competitive, political/legal, economic, technological, and social/cultural environments.
Term
social cultural environment
Definition
The relationship between the marketer and society and its culture
Term
competitive environment
Definition
Interactive process occurring in the marketplace among marketers of directly competing products, marketers of substitutable products, and other marketers competing for consumer purchasing power.
Term
consumerism
Definition
Social force that aids and protects the consumer by exerting legal, moral, and economic pressure on business and government.
Term
time based competition
Definition
Strategy of developing and distributing goods and services more quickly than competitors
Term
consumer rights
Definition
The right to choose freely, to be informed, to be heard, and to be safe
Term
political legal environment
Definition
Laws and their interpretations that require firms to operate under competitive conditions and serve to protect consumer rights
Term
marketing ethics
Definition
Standards of conduct and moral values under which marketers operate.
Term
economic environment
Definition
Includes the state of the business cycle, inflation, unemployment, resource availability, and income.
Term
social responsibility
Definition
Marketing philosophies, policies, procedures, and actions intended primarily to enhance society's welfare.
Term
demarketing
Definition
Reducing consumer demand for a product or service to a level that the firm can supply
Term
green marketing
Definition
Producing, marketing, and reclaiming environmentally sensitive products.
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