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Changes in these forces can have a dramatic impact on

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Unformatted text preview: nges in these forces can have a dramatic impact on marketing strategy. LO2 Demographics FIGURE 3–1 Environmental forces affect the organization, as well as its suppliers and customers. Describing a population according to selected characteristics such as age, gender, ethnicity, income, and occupation is referred to as demographics. Several organizations such as the Population Reference Bureau and the United Nations monitor the world Suppliers Organization • Marketing department • Other departments • Employees Customers Environmental forces Social • Demographic shifts • Cultural changes 60 Economic • Macroeconomic conditions • Consumer income Technological • Changing technology • Technology’s impact on customer value • Electronic business technologies Competitive • Alternative forms of competition • Small businesses Regulatory • Laws protecting competition • Laws affecting marketing mix actions • Self-regulation ker81063_ch03_058-077.indd Page 61 8/13/08 12:57...
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