Marketing Chapter 3 - Marketing Chapter 3 (Scanning the...

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Marketing Chapter 3 (Scanning the Marketing Environment) Environmental scanning – process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends Environmental trends arise from five sources: Social (demographic shifts, cultural changes) – growing concern over global warming Economic (macroeconomic conditions, consumer income) – shift to a global economy and growing importance of China and India Technological (changing technology, technology’s impact on customer value, electronic business technologies) – increasing popularity of Mobile TV Competitive (alternative forms of competition, small businesses) – dramatic increase in customer-generated content about competitive options Regulatory (laws protecting competition, laws affecting marketing mix actions, self- regulation) – increasing legislation requiring digital storage of corporate records Social forces – include the demographic characteristics of the population and its values Demographics – describing a population according to selected characteristics such as age, gender, ethnicity, income, and occupation Baby boomers
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Marketing Chapter 3 - Marketing Chapter 3 (Scanning the...

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