14-16 - Chapter 3 Marketing Environment Social...

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Unformatted text preview: Chapter 3: Marketing Environment, Social Responsibility, & Ethics • Marketing environment:- Environmental scanning- process of collecting info about forces in the marketing environment- Environmental analysis- process of assessing & interpreting the info • Responding to environmental forces- Reactive approach(passive)- Proactive approach(doing something b/c of what’s happening around) • Competitive forces- Brand competitors- Product competitors- Generic competitors generic vs. name brand- Total budget competitors • Competitive structures- table 3.1 • Monitoring competition- Helps determine competitors strategies & their effects on firms own strategies- Guides development of competitive advantage & adjusting firms strategy * if valued, consumer wants it- Provides ongoing info about competitors- Assists in maintain a market orientation • Economic forces- Economic conditions- Buying power- Willingness to spend • Business cycle- Resources such as money, goods, & services that can be traded in an exchange Income- disposable income, discretionary income...
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This note was uploaded on 04/18/2011 for the course ANTH 105 taught by Professor Tankosic during the Winter '09 term at Indiana.

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14-16 - Chapter 3 Marketing Environment Social...

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