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environmental scanning
The process of acquiring information on events outside the organization to identify and interpret potential trends.
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social forces
The demographic characteristics and the culture of the population
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demographics
Description of a population according to characteristics such as age, gender, ethnicity, income, and occupation
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baby boomers
The generation of children born between 1946 and 1964.
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Generation X
The generation of people born between 1965 and 1976
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Generation Y
The 72 million Americans born between 1977 and 1994.
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multicultural marketing
Marketing programs that reflect unique aspects of different races.
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culture
The set of values, ideas, and attitudes that is learned and shared among the members of a group.
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economy
Pertains to the income, expenditures, and resources that affect the cost of running a business or household.
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disposable income,
is the money a consumer has left after paying taxes to use for necessities such as food, housing, clothing, and transportation.
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gross income
The total amount of money made in one year by a person, household, or family unit
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discretionary income
, the money that remains after paying for taxes and necessities
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technology
Inventions or innovations from applied science or engineering research.
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marketspace .
An information- and communication-based electronic exchange environment occupied by digitized offerings
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electronic commerce
Any activity that uses some form of electronic communication in the inventory, exchange, advertisement, distribution, and payment of products and services
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competition
Alternative firms that could provide a product to satisfy a specific market’s need
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pure competition
in which there are many sellers and they each have a similar product
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monopolistic competition,
many sellers compete with substitutable products within a price range
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Oligopoly,
a common industry structure, occurs when a few companies control the majority of industry sales
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, pure monopoly
occurs when only one firm sells the product
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