MKTG 317 Midterm: Midterm Study Notes

• School: University of Calgary
• Department: Marketing
• Course: MKTG 317
• Professor: Marc Boivin

Document Summary

External marketing environment: political legal environment, laws and regulations to safeguard companies and consumers, self regulation, competition act, competitive environment, competition, competitive strategy, direct vs. Indirect: social cultural environment, different generations, cultural shift, economic environment, inflation, recession, purchasing power, disposable/discretionary income, technological environment, innovation and new product development, social media. 99 lives: diminishing concerns over busy lifestyle by multitasking, bundling offerings into clusters, save our society, responsibility towards ethics, education and environment, socially responsible marketing, fantasy adventure, emotional escape from daily routine, from vacations to virtual reality, cocooning, people staying in their home, maintain social interactions from home via technology, cashing out, leaving careers and stages of life to start new ones, anchoring, consumers reaching back to simpler times, turn towards tradition, spirituality to combat modern life. Buying situations: straight rebuy, recurring purchase, modified rebuy, 3, new task buy, first time/unique purchase that requires effort.