0324536380_77164

0324536380_77164 - Chapter Objectives The Marketing...

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Unformatted text preview: Chapter Objectives The Marketing Environment, Ethics, and Social Responsibility CHAPTER 3 1 2 3 4 6 7 8 Identify the five components of the marketing environment. Explain the competition marketers face and the steps necessary for developing a competitive strategy. Describe how marketing activities are regulated and how marketers can influence the political- legal environment. Outline the economic factors that affect marketing decisions and consumer buying power. Discuss the impact of the technological environment on a firms marketing activities. Explain how the social- cultural environment influences marketing. Describe the ethical issues in marketing. Identify the four levels of the social responsibility pyramid. 5 CHAPTER 3 The Marketing Environment, Ethics, & Social Responsibility ENVIRONMENTAL SCANNING AND ENVIRONMENTAL MANAGEMENT Environmental scanning Process of collecting information about the external marketing environment to identify and interpret potential trends. . Environmental management Attainment of organizational objectives by predicting and influencing the competitive, political-legal, economic, technological, and social- cultural environments. Firms often create strategic alliances to combine resources and capital to compete more effectively. CHAPTER 3 The Marketing Environment, Ethics, & Social Responsibility THE COMPETITIVE ENVIRONMENT Competitive environment Interactive process that occurs in the marketplace among marketers of directly competitive products, marketers of products that can be substituted for one another, and marketers competing for the consumers purchasing power. Companies with a monopoly usually accept regulation in exchange for the exclusive right to serve a market segment. OligarchyLimited number of sellers in an industry with high start-up costs. TYPES OF COMPETITION Directamong marketers of similar products. Indirectinvolves products that are easily substituted for each other. Competition among all firms that compete for consumers purchases. CHAPTER 3 The Marketing Environment, Ethics, & Social Responsibility DEVELOPING A COMPETITIVE STRATEGY Should we compete?...
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0324536380_77164 - Chapter Objectives The Marketing...

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