Term
| What are the environmental forces? |
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Definition
| - demographic, economic, socio-cultural, competitive, natural, technological, political-legal |
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Term
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Definition
Characteristics of Popultions
-size, diversity, location |
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Term
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Definition
- people have money to spend
*buying power
*willingness to spend |
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Term
| Buying Power is composed of: |
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Definition
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Term
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Definition
| a pattern of economic fluctuation that has four stages |
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Term
| Four Stages of the Business Cycle |
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Definition
- prosperity
- recession
- depression
- recovery
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Term
| Social and Cultural Forces |
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Definition
- people make markets
*socio-cultural patterns quickly change
* values&beliefs, views, and lifestyles |
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Term
| Some Social and Cultural Changes |
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Definition
-Changing Gender Roles
- Premium on Time
- Fitness and Health
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Term
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Definition
- shortage of raw materials
- increased energy costs
- anti-pollution pressures
- governmental protections
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Term
| Technological Environment |
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Definition
| - the application of knowledge and tools to perform tasks and solve problems more efficiently |
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Term
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Definition
- nationalism
- consumerism
- legislation related to marketing |
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Term
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Definition
| - put the interests of your own country first |
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Term
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Definition
| - protect the rights of individuals to be heard, informed, safe, and to choose |
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Term
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Definition
| the share of market per firm is HIGH and the number of firms in market is LOW |
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Term
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Definition
- rivals for Customers' limited buying power
* brand competition, substitute products |
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