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CH 3
Scanning the Marketing Environment
28
Marketing
Undergraduate 3
12/16/2010

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Term
Environmental Scanning
Definition
process of acquiring information on events outside the organization to identify and interpret potential trends
Term
Social Forces
Definition
demographic characteristics of the population and its values, cultural values, women in the workplace
Term
Demographics
Definition
description of a population according to characteristics such as age, gender, ethnicity, income, and occupation
Term
Culture
Definition
set of values, ideas and attitudes that are learned and shared among the members of a group
Term
Baby Boomers
Definition
generation of children born between 1946- 1964
Term
Generation X
Definition
members of the US population born between 1965- 1976
Term
Generation Y
Definition
the 72 million Americans born between 1977 and 1994
Term
Multicultural Marketing
Definition
marketing programs that reflect unique aspects of different races
Term
Economy
Definition
income, expenditures, and resources that affect the cost of running a business or household
Term
Economic Forces
Definition
income, expenditures, and resources that affect the cost of running a business and household
Term
Technology
Definition
inventions from applied science of engineering research
Term
Marketspace
Definition
information- and communication-based electronic exchange environment occupied by digitized offerings
Term
Competition
Definition
alternative firms that could provide a product to satisfy a specific market’s needs
Term
Pure competition
Definition
every company has a similar product
Term
monopolistic competition
Definition
many sellers compete with their products on a substitutable basis
Term
Oligopoly
Definition
a few companies control the MAJORITY of an industry
Term
Pure Monopoly
Definition
when only one firm sells the product
Term
Regulation
Definition
restrictions state and federal laws place on business
Term
Consumerism
Definition
started to increase the influence, rights, and power of consumers
Term
Self-regulation
Definition
alternative to government control where an industry attempts to police itself
Term
Technological Forces
Definition
society is an a period of dramatic technological change
Term
Technology
Definition
inventions from applied science or engineering research
Term
MarketSPACE
Definition
information- and communication-based electronic exchange environment occupied by digitized offerings. Uses electronic commerce.
Term
Company Protection
Definition
company can protect its competitive position in new and novel products under the patent law
Term
Consumer Protection
Definition
more than 30 amendments and separate laws relating to food, drugs, and cosmetics
Term
Consumer Protection
Definition
more than 30 amendments and separate laws relating to food, drugs, and cosmetics
Term
Tying Arrangement
Definition
seller requires the purchaser of one product to also buy another item in the line.
Term
Requirement Contract
Definition
require a buyer to purchase competitors all or part of its product from one seller for a period of time.
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