MKTG 2800 Lecture Notes - Lecture 3: Monopolistic Competition, Consumerism, Oligopoly
4 Sep 2016
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Document Summary
Environmental scanning: the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends. Social forces: demographic characteristics of the population and its culture. Demographics: describing a population according to selected characteristics such as age, gender, ethnicity, income and occupation. Baby boomers: the generation of children born between 1946 and 1964 us pop becoming older, larger and more diverse. Generation x: people born between 1965 and 1976 baby bust, number of children born declining- business travelers, have less than the previous generation. American household becoming blended, population shifts to the south/midwest (texas, Multicultural marketing: combinations of the marketing mix that reflect the unique attitudes, ancestry, communication preferences, and lifestyles of different races. Culture: incorporates the set of values, ideas, and attitudes that are learned and shared among the members of a group. Value consciousness: concern for obtaining the best quality, features, and performance of a product or service for a given price.
