33:630:301 Lecture 6: Marketing Chapter 3.3
Document Summary
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 physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities. 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. 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.
