MCS 1000 Chapter Notes - Chapter 4: General Electric Genx, Marketing Mix, Social Forces

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: tba

Document Summary

Environmental scanning: the process of continuously acquiring info on events occurring outside the organization to identify and interpret potential trends. Social forces: forces of the environment that include the demographic characteristics of the population and its values. Demographics: study of the characteristics of a human population; population size, growth rate, gender, maternal status, ethnicity, income etc. Blended family: family formed by the merging into a single family of two previously separated units. Census metropolitan areas (cmas): geographic markets having a population of 100,000+. Ethnic marketing: combos of the marketing mix that reflect the unique attitudes, race, communication preferences, and lifestyles of ethnic canadians; aka multicultural marketing. Culture: 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.