Term
| competitive intelligence (CI) |
|
Definition
| an understanding of a firm's competitors, including their strengths, weaknesses, and likely reactions to marketing activities their own firm undertakes. |
|
|
Term
| just-in-time (JIT) inventory system |
|
Definition
| keeps inventories of automobile components to a minimum because the company only orders them from suppliers to arrive just in time to be used. |
|
|
Term
| macroenvironmental factors |
|
Definition
| factors that operate in the external environment, namely, the culture, demographics, social issues, technological advances, economic situation, and political/regulatory environment (CDSTEP). |
|
|
Term
|
Definition
| shared meanings, beliefs, morals, values, and customs of a group of people. |
|
|
Term
|
Definition
| the characteristics of human populations and segments, especially those used to identify consumer markets. |
|
|
Term
|
Definition
| a group of people of the same generation having similar purchase behaviors because they have shared experiences and are in the same stage of life. |
|
|
Term
|
Definition
| American born between 1946 and 1964; are individualistic, leisure time represents high priority for them, they believe that they will always be able to take care of themselves, obsess with maintaining their youth, always love rock-n-roll. |
|
|
Term
|
Definition
| those born between 1965 and 1976; come from dual-income homes, half come from divorced homes, tend to wait to get married and buy houses later in life; less interested in shopping but more cynical; less interested in status products. |
|
|
Term
|
Definition
| varies in age; skeptics of media, watch less TV, accept personal use of web at work, and expect healthy options at fast food joints |
|
|
Term
|
Definition
| involves a strategic effort by firms to supply customers with environmentally friendly merchandise. |
|
|
Term
|
Definition
| the persistent increase in the prices of goods and services. |
|
|
Term
|
Definition
| represent the cost of borrowing money. |
|
|
Term
|
Definition
| integrates knowledge about macroenvironmental impacts as a means to understand the potential outcomes of different applications of a firm's marketing mix. |
|
|
