MKT 100 Midterm: Chapter 3

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Marla Spergel

Document Summary

Competition (competitive intelligence (ci): collect and synthesize information about their position with respect to their rivals; enables companies to anticipate changes in the marketplace) Culture: shared meanings, beliefs, morals, values, and customs of a group of people. Country"s culture: artifacts, behavior, dress, symbols, physical settings, ceremonies, language differences, colours and tastes, and food preferences. Demographics: characteristics of human populations and segments; those used to identify consumer markets such as age, gender, income, race, ethnicity and education. 12), generation y (age 13-32), generation x (age 36-47), baby bloomers (age 48-66), seniors (age 65+). Social trends: changes over time in their popularity and importance; identify emerging trends if they present an opportunity or threat. Technological advances: changes that have contributed to the improvement of the value of both products and services in the past few decades. Economic situation: changes that affect the way consumers buy merchandise and spend money. Inflation: persistent increase in prices of goods and services.