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3. How are important values such as health and fitness reflected in the marketplace today? ECONOMIC FORCES
LO3 economy Income, expenditures, and
resources that affect the cost
of running a business or
household The second component of the environmental scan, the economy, pertains to the income, expenditures, and resources that affect the cost of running a business and household. We’ll consider two aspects of these economic forces: a macroeconomic view of
the marketplace and a microeconomic perspective of consumer income. Macroeconomic Conditions CHAPTER 3 SCANNING THE MARKETING ENVIRONMENT Culture
culture Of particular concern at the macroeconomic level is the inflationary or recessionary
state of the economy, whether actual or perceived by consumers or businesses. In an
inflationary economy, the cost to produce and buy products and services escalates
as prices increase. From a marketing standpoint, if prices rise faster than consumer
incomes, the number of items consumers can buy decreases. This relationship is
evident in the cost of a college education. The price of attending college ha...
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- Spring '14
- Marketing, Household income in the United States, Sherman Antitrust Act, ker81063_ch03_058-077.indd Page