BSM 100 Midterm: MKT MID-TERM STUDY GUIDE

• School: Ryerson University
• Department: Business Essentials
• Course: BSM 100
• Professor: Marla Spergel

Document Summary

Demographic forces: different market segments are typically impacted by common demographic forces, including country/region; age; ethnicity; education level; household lifestyle; cultural characteristics and movements. Economic factors: the economic environment can impact both the organisation"s production and the consumer"s decision making process. Natural/physical forces: the earth"s renewal of its natural resources such as forests, agricultural products, marine products, etc must be taken into account. There are also the natural non- renewable resources such as oil, coal, minerals, etc that may also impact the organisation"s production. Technological factors: the skills and knowledge applied to the production, and the technology and materials needed for production of products and services can also impact the smooth running of the business and must be considered. Political and legal forces: sound marketing decisions should always take into account political and/or legal developments relating to the organisation and its markets.