Class03_HW_Assignment - 1-Describe the six external...

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1-Describe the six external environmental factors that affects a firm and give an example of how each may affect the environment. 2-Describe at least three situations in which you would not purchase the products of a firm even though it is very socially responsible. (1) The six external environmental factors that affect a firm are: 1. social: Social factors, which involve attitudes, lifestyles, and values, influence which products we buy, how much we pay for them, and ultimately help to determine the successfulness of a particular promotion. For example, a product that claims to be a "family recipe" or "just like Mom used to make" are being marketed towards people who put a high value on family. Likewise, products that prominently display labels stating "no trans fat" are being marketed towards consumers who put a high value on their health. In other words, the market has t keep up with what is important to people at the time. 2. demographic: Demographic factors, such as age, gender, race, ethnicity, and geographic location, are at the heart of any market because these characteristic describe peoples’ vital statistics. Consequently, demographics are strongly correlated with consumer buying patterns. For example, during a monthly store meeting at a previous job, the franchise owners informed us that research has shown that women are more likely to pamper their pets than men are. Thus, pet products are generally marketed to women. If future research
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This note was uploaded on 08/21/2011 for the course BUSA 131 taught by Professor Mcenroe,celia during the Summer '11 term at Northampton Community College.

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Class03_HW_Assignment - 1-Describe the six external...

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