Term
| 3 Goals for setting a firm's objectives |
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Definition
1. Engage in specific activities that will perform a socially and economically useful function
2. Develop an organization to carry on the business and implement its strategies
3. Earn enough profit to survive |
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| sets out the organization's basic purpose for being |
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| affects the number and types of competitiors the marketing manager must face and how they may behave |
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An organized approached for evaluating the strenghts and weaknesses of current or potential competitors' marketing strenghs
- what competitors are likely to do in repsonse to your strategy |
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| firms that will be the closest competitors |
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| the conditions that may make it difficult or even impossible, for a firm to compete in a market |
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- Economies around the world are linked, even though the economic environment may vary from one country to antother
- The economic environment can and does change qutie rapidly
- often accompanied by changes in the interest rate |
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The application of science to convert an economy's resources to output
Effects economy in 2 ways:
- New products
- New processes |
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| an emphasis on a country's interests before everything else; the "Buy American" policy is an example |
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| 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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| a social movement that seeks to increase the rights and powers of consumers |
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| Culltural and Social Environment |
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Definition
| affects how and why people live and behave as they do; marketing managers need to pay attention to changes in these areas because it can change the marketing environment |
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Term
| Strategic Business Unit (SBU) |
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Definition
| an organizational unit (within a large company) that focuses on some product-makrets and is treated as a separate profit center |
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Term
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Definition
| treats alternative products, divisions, or strategic business units as thought they were stock investments |
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