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Marketing ch 3, 5, 6, 7

Marketing ch 3, 5, 6, 7 - Chapter 3 1 Environmental...

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Chapter 3 1. Environmental scanning: Environmental scanning: process of acquiring information on events outside the organization to identify and interpret potential trends 2. Social forces: demographic characteristics of the population and its values 3. Demographcis: description of a population according to characteristics such as age, gender, ethnicity, income and occupation 4. Baby boomers: 1946-1964 5. Gen X’ers: 1965-1976 6. Gen Y: 1977-1994 7. Economy: income, expenditures and resources that affect the cost of running a business or household 8. Multicultural marketing: marketing programs that reflect the unique aspects of different races 9. culture: set of values, ideas and attitudes that are learned and shared among the members of a group 10. technology: inventions from applied science or engineering research 11. marketspace: information and communication based electronic exchange environment occupied by digitized offerings 12. competition: alternative firms that could provide a product to satisfy a specific markets needs Chapter 5 1. Consumer behavior: actions a person takes in purchasing and using products and services 2. Purchase decision process: stages a buyer passes through in making choices about which products or services to buy 3. involvement: personal, social and economic significance of a purchase to the consumer 4. motivation: energizing force that stimulates behavior to satisfy a need 5. personality: someone’s consistent behaviors or responses to recurring situations 6. perception: process by which someone selects, organizes and interprets
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