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Lecture 6

33:630:301 Lecture 6: Marketing Chapter 3.3


Department
Marketing
Course Code
33:630:301
Professor
S Schwartz
Lecture
6

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3.3 The Economic Environment
Consists of economic factors that affect consumer purchasing power and spending
patterns
Americans are retaining an enthusiasm for frugality
Consumers still indulge in luxuries, just more sensibly
Companies in all industries are focusing on value for the money, practicality, and
durability in their product offerings and marketing pitches
The Natural and Technological Environments
The physical environment and the natural resources that are needed as inputs by
marketers or that are affected by marketing activities
Trends in the natural enviornment
Shortages of raw materials
Air polution
By 2030, more than 1 in 3 people in the world won’t have enough water to
drink
Forests and food need to be used wisely
Oil, coal, and various minerals pose a serious problem
Increased pollution
Industry will almost always damage the quality of the natural environment
through things like the disposal of chemical and nuclear wastes, dangerous
levels of mercury in the ocean, etc
Increased government intervention in natural resource management
EPA was created to enforce pollution standards and conduct pollution
research
Environemtnal sustainability movement
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