Chapter 3 Notes - Chapter 3 Scanning the Marketing...

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Chapter 3: Scanning the Marketing Environment Environmentally Scanning in the New Millennium Environmentally Scanning : Continuously acquiring information outside the environment to assess any potential trends in the marketplace Competitive Forces Model : Includes competitors, technological, regulatory, economic and social (cultural or demographic changes) forces Social Forces: include the demographic characteristics of the population and its values Demographics : Description of a population according to characteristics such as age, gender, ethnicity, income, and occupation Generational Cohorts: Baby Boomers: Generation of children born between 1946-1964 Generation X: Members of the population born between 1965-1976 Generation Y: The 72MM Americans born between 1977-1994 Statistical Areas: Metropolitan Areas: 50,000+ residents that has a high degree of social and economic integration Metropolitan Areas: Between 10,000-50,000 residents in an area Multicultural Marketing
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