Ch 3 - Chapter 4 The Marketing Environment Target Market...

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Chapter 4 The Marketing Environment
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Target Market 2 Defined group most likely to buy a product Changes as consumers age External elements change consumers’ desires
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External Marketing Environment Demographics Social Change Economic Conditions Political & Legal Factors Technology Competition Environmental Scanning Target Market External Environment (uncontrollable) Ever-Changing Marketplace Product Distribution Promotion Price Internal (within the organization) Marketing mix
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S ocial & Demographic Factors About the consumer Values, Attitude Demographics Lifestyles , changing role of women Age, education, location, ethnicity, income, etc.
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T echnological Factors New technologies create new opportunities Many firms use the marketing concept to guide research. New technology creates a long-term competitive advantage. Competition drives technological advance. Early bird to grab external technological edge beats the competition.
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How many competitors? How big are competitors?
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Ch 3 - Chapter 4 The Marketing Environment Target Market...

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