MKTG Chapter04MGS

MKTG Chapter04MGS - The Marketing Environment Chapter 4...

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The Marketing Environment Chapter 4
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Target Market Target Market Target Market Target Market A defined group most likely to buy a firm’s product. 3
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Continuous Evolution in the Continuous Evolution in the External Marketing Environment External Marketing Environment 3 Demographics Demographics Social Change Economic Conditions Political & Legal Factors Technology Technology Competition Competition Environmental Environmental Scanning Scanning Target Market Product Distribution Promotion Price Product Distribution Promotion Price External Environment External Environment (uncontrollable) (uncontrollable) Ever-Changing Marketplace Marketplace Internal Internal (within the (within the organization) organization) Marketing mix Marketing mix
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External Marketing Environment External Marketing Environment Social Social Demographic Demographic Economic Economic Technologic Technologic Political and Legal Political and Legal Competitive Competitive External External Environmental Environmental Factors Factors External External Environmental Environmental Factors Factors 3
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Learning Objective Learning Objective Describe the social factors that affect marketing 4 4 4
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Social Factors Values Values Attitudes Attitudes Lifestyle Lifestyle The most difficult external variable for marketing managers to forecast or influence are social factors
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LO 4 Social Factors Social Factors Influence: Social Factors Influence: Products purchased Products purchased Prices paid for products Prices paid for products Effectiveness of promotions Effectiveness of promotions How, where, and when people purchase How, where, and when people purchase
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American Values American Values Self-Sufficiency Self-Sufficiency Basic Basic American American Values Values Basic Basic American American Values Values Upward Mobility Upward Mobility Work Ethic Work Ethic Conformity Conformity 4
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The Influence of Values on Buying Habits Habits 1. Reliability 1. Reliability 2. Durability 2. Durability 3. Easy maintenance 3. Easy maintenance 4. Ease of use 4. Ease of use 5. Trusted brand 5. Trusted brand 6. Low price 6. Low price Ranked Ranked Characteristics Characteristics of of Product Quality Product Quality Ranked Ranked Characteristics Characteristics of of Product Quality Product Quality 4
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Component Lifestyles Component Lifestyles Component Lifestyles Component Lifestyles The practice of choosing goods and services that meet one’s diverse needs and interests rather than conforming to a single, traditional lifestyle. 4
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Role of Families and Working Women Role of Families and Working Women The phenomena of working women has had the greatest effect on marketing than any other social change 63% of all females (ages 16-65) are in the workforce.
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This note was uploaded on 11/08/2011 for the course MKTG 3100 taught by Professor Carley during the Spring '11 term at Kennesaw.

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MKTG Chapter04MGS - The Marketing Environment Chapter 4...

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