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Flashcards in Module 2: The Marketing Environment Deck (44)
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1

includes all the external forces that could affect the success of future marketing programs

marketing environment

2

the 6 marketing enviro forces

demographic
socio-cultural
economic
technological
competitive
regulatory

3

environmental scan is continually acquiring info on events that happen outside the org to identify... (3)

trends
opportunities
threats to a business

4

marketers use the info from an environmental scan to make sure their product is (2)

relevant and competitive

5

looking at countable characteristics of ppl like age, gender, ethnicity, income, job, etc.

demographic force

6

what is the largest generational cohort in Canada

Baby boomers and millennials

7

socio-cultural forces include (3)

cultural values, ideas and attitudes

8

using mobile devices in store to check competitive online product reviews and prices then purchasing cheaper product online

showrooming

9

why do marketers scan the marketing envrio

it is always changing and changing fast

10

related to the state of the economy as a whole

macroeconomics

11

related to supply and demand and individual buying power

microeconomics

12

involved with inflation, unemployment, economic growth, consumer confidence and interest rates

macroeconomics

13

if interest rates are high ppl tend to

try sand save money

14

if interest rates are low ppl tend to

spend/borrow more money

15

money left after paying taxes for food, clothing, shelter

disposable income

16

money left after paying for taxes and necessities

discretionary income

17

consumers spend more on affordable luxuries than big ticket items when economy is weak

lipstick effect

18

innovations that stem from scientific and engineering research

technological forces

19

4 types of technologies that have changed the marketing enviro

e-commerce
cloud-based services
trackers
mobile payment

20

marketers must understand who _____ are and how ______ when developing marketing strategies

-competitors
-competitive the industry is

21

pepsi and coke are examples of

direct competitors

22

pepsi and San pellegrino water are

indirect competitors

23

competition is non-existent

monopoly

24

small number of competitors

oligopoly

25

larger # of competitors selling similar products

monopolistic competition

26

market with many sellers selling identical products

perfect competition

27

marketers must be aware of _____ placed on marketing practices by the government and industry associations

restrictions

28

helps set standards of acceptable broadcast standards and regulates the telecommunication industry

CRTX

29

the CASL is an

anti-spam legislation

30

tracking consumers online browser activity to deliver ads that correspond to their browsing interests

OBA