BU111 Chapter Notes - Chapter 2: Viral Marketing, Customer Switching, Switching Barriers
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BU111 Full Course Notes
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Document Summary
Everything outside a firm that affects it. Managers must adapt the strategy and try to influence the environment. What separates the firm from the environment. Conditions of the economic system in which an organization operates. Total quantity of goods and services produced by an economy in a period of time. An increase in output is called economic growth. Output rising at a higher pace tan population will raise living standards. Gross domestic product: produced within borders (real growth rate) Gross national product: produced by a countries subsidiaries world wide. Technology: ways forms create value for their components. Improvements and innovation for products and processes. Basic r&d: improving knowledge in a certain area looking for marketable ideas. Applied r&d: focus on design and release of an innovative product. Government regulations that might affect the way the business develop ideas or behaves in the environment. Customs, values, attitudes and demographics that influence customer preferences and determine business conducts and standards.
