MKTG 105 - Chapter 4 - Chapter 4 The marketing environment...

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Chapter 4: The marketing environment Target market: group most likely to buy product - changes as consumers age - external elements change desires External marketing environment : uncontrollable and ever changing (internal marketing mix – 4 P’s) - social change - political/legal - competition - economic conditions - technology - demographics Social: attitudes, values, lifestyle Demographics: vital stats – age, race, ethnicity, location Economic: consumer income, inflation, recession
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Unformatted text preview: Technological : basic and applied research Political/legal: laws and regulations to protect new technology, society, consumers, businesses Competition: how many, how big, how interdependent?-competitive analysis: evaluate strengths and weaknesses-competitive advantage: better ways to satisfy customer needs and provide better value-rivals: closest competitors-barriers: conditions causing firms difficulty entering a market...
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  • Spring '13
  • Collins
  • Marketing, External Marketing Environment, internal marketing mix

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