MKTG CH 5

Topics: BusinessAdvertisement

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Last updated: May 1, 2019

consumers at the center
playing close attention to customers needs and wants value based marketing aims to provide greater value to consumers that competitors offers

immediate environment
company’s capabilities, competitors, and corporate partners

company cappabilities
the firm itself affects the consumer satisfying customers neeeds to match their core competenciesie: company sells glass so it gets its way into non scratch glass for phones

competitors
marketeers understand their firms competitors, including strengths, weaknesses, and likely reactions to the marketing activities , watching competitors

corproate partners
parties that work with the focal firm are its corporate partners

macroenvironmental factors
aspects of external environment that affect company

culture
shared meanings, beliefs, morals, values, and customs of a group of people. Transmitted through words, literature, and institutions, culture is passed down from generation to generation and learned over time

county culture
easy to stop aspects that are particular to a country

regional culture
influence of the area within a country in which people live in

demographics
characteristics of human population and segments age, gender, race, and income

generational cohort
a group of people in the same generation have smilar purchase behaviors because they have shared experiences and are in the same stage of lige

Generatioon Z
Digital Natives born into a world of electronic gadgets and digital age

Generation Y
Millenials 60 million people 1977-2000 biggest cohort since WW1

Generation X
41 million 1965-1976 first generation of latchkey children and 50% have divorced parents

Baby Boomers
largest US has ever seen

Income
highest income groups are growing while middle and lower income purchasing power is declining. Increase in population due to maturing of population, increase in dual household income, higher overall level of educcation

Education
higher level of education lead to better jobs and higher income

gender
gender roles are not as clear.

women outperform men in the workplace. more firms are careful of gender neutrality in positioning their products.

ethnicity
US continues to be very diverse minorities are representing a bigger portion

social trends
wellness concerns greener concern, privacy concern

health and wellness concern
it has doubles and become more widespread- new advertisement guidelines require marketers to produce foods in reasonably proportioned sizes cant link unhealthy foods with celebrities

green marketiing
strategic effort by firm to supply customers with environmental friendly and sustainable merch and services

greenwashinng
exploiting a consumer by disingenuous marketing products or services and environmentally friendly, with the goal of gains public approval and sales

technological advanes
improving the value of products and services

economic situation
affect the consumer buy merch and spend money ie: inflation, foreign currency fluctuation, and interest raates

Political regulatory environment
comprises political parties, government org, legislation and laws

sherman anti trust act
prohibits monopolies and otherr activites thaat would restrain trade or competition and makes fair trade within a free market a national goal

Clayton Act
prohibiting combination of two or more competition corporations through pooling ownership of stock and restricting pricing poolicies

Roinson Patman Act
price discrimination towards wholesales retailers, or other produces and requires seller to make services available to all buyers on equal terms

FDA
prohibits the manufacturing or sale of adulterated or fraud labeled food or drugs

FTC
Regulates unfair competitive practices and practices that deceive or are unfair to the consumer

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