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mkt 304 chap 3 key terms
MKT 304: Chap 3Key Terms
  • Environmental Scanning
  • Company Resources
  • Company Objectives
  • Competitive environment
  • Economic environment
  • Technological environment
  • Political environment
  • Legal environment
  • Cultural and social environment
environmental scanning
Environmental Scanning
  • The process of collecting information concerning forces in the marketing environment
  • First step toward developing a marketing plan
  • A critical step for all marketers!
the marketing environment
Resourcesand Objectivesof the Firm

CompetitiveEnvironment

Cultural andSocial Environment

EconomicEnvironment

Political andLegal Environment

TechnologicalEnvironment

The Marketing Environment

Direct Market Environment

External Market Environment

resources
Financial Strengths

Production Strengths

Production Strengths

Marketing Strengths

Resources
objectives
Objectives
  • Economically useful functions
  • Socially useful functions
  • Development of the organization
  • Profit
mission statement and objectives
Company Objectives

Production Objectives

Production Objectives

Marketing Objectives

HR Objectives

R&D Objectives

Finance Objectives

Product Objectives

Place Objectives

Promotion Objectives

Price Objectives

Mission Statement and Objectives

Mission Statement

the competitive environment
The Competitive Environment
  • Competitive Structure of Market
  • Competitors
    • Number, Size, Market Share, Location
    • Products, Marketing Strategy
    • Direct, Indirect
  • Competitive Analysis
    • Barriers
the economic environment
The Economic Environment
  • Global economic situation
  • Rate of change
  • Business life cycles
    • Prosperity
    • Inflation, recession, depression
    • Recovery
  • Interest rates
  • Consumer disposable income
  • Consumer demand & spending patterns
the technological environment
The Technological Environment
  • New discoveries and innovations
    • Information technology
    • Biotechnology
  • Speed of technology transfer
  • Rates of obsolescence
  • Social concerns
    • Pollution
    • Unemployment
    • Ethical use of information
the political environment
The Political Environment
  • Nationalism
  • Terrorism
  • Formal political power
    • Political parties
  • Informal political power
    • Lobbying groups
    • Consumer groups
    • National sentiment
    • Unions
the legal environment
The Legal Environment
  • Government agencies
    • Federal
    • State
    • Local
  • Laws and regulations
  • Interpretations of the law
the cultural and social environment
The Cultural and Social Environment
  • Changing demographics
  • Changing family structures
  • Changing cultural standards
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