M300 Chapter 3

  1. environmental scanning
    The process of acquiring information on events outside the organization to identify and interpret potential trends.
  2. social forces.
    The demographic characteristics and the culture of the population. Changes in these forces can have a dramatic impact on marketing strategy
  3. demographics
    Description of a population according to characteristics such as age, gender, ethnicity, income, and occupation.
  4. baby boomers
    The generation of children born between 1946 and 1964
  5. Generation X
    The generation of people born between 1965 and 1976
  6. Generation Y
    The 72 million Americans born between 1977 and 1994.
  7. multicultural marketing
    Marketing programs that reflect unique aspects of different races
  8. culture
    The set of values, ideas, and attitudes that is learned and shared among the members of a group.
  9. economy
    Pertains to the income, expenditures, and resources that affect the cost of running a business or household
  10. gross income
    The total amount of money made in one year by a person, household, or family unit
  11. disposable income,
    is the money a consumer has left after paying taxes to use for necessities such as food, housing, clothing, and transportation
  12. discretionary income,
    the money that remains after paying for taxes and necessities
  13. technology
    Inventions or innovations from applied science or engineering research.
  14. marketspace
    An information- and communication-based electronic exchange environment occupied by digitized offerings.
  15. competition
    Alternative firms that could provide a product to satisfy a specific market’s needs
  16. regulation
    Restrictions that state and federal laws place on business
  17. consumerism
    A movement started to increase the influence, power, and rights of consumers in dealing with institutions.
  18. self-regulation
    An alternative to government control, whereby an industry attempts to police itself
  19. Consumer Bill of Rights
    Codified the ethics of exchange between buyers and sellers, including rights to safety, to be informed, to choose, and to be heard
  20. Economic espionage
    is the clandestine collection of trade secrets or proprietary information about a company’s competitors.
  21. code of ethics
    A formal statement of ethical principles and rules of conduct
  22. moral idealism
    A personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome.
  23. utilitarianism
    A personal moral philosophy that focuses on the “greatest good for the greatest number.
  24. social responsibility
    The idea that organizations are part of a larger society and are accountable to that society for their actions.
  25. green marketing
    Marketing efforts to produce, promote, and reclaim environmentally sensitive products.creating an environmentally-based benefit that is both relevant and differentiating in the minds of consumers.
  26. cultural diversity
    a strategy that serves the community by actively seeking to include people of both genders, races, ethnicity, and religions among its employees, customers, suppliers and channel partners.
  27. macroeconomic forces
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  28. Company Protection
    • Patent law. Gives inventors the right to exclude others from making, using, or selling products that infringe the patented invention.
    • Copyright law. Gives the author of a literary, dramatic, musical, or artistic work the exclusive right to print, perform, or otherwise copy that work. Copyright is secured automatically when the work is created.

    Digital Millennium Copyright Act (1998).  Digital technology has necessitated new copyright legislation to improve protection of copyrighted digital products and protection from devices designed to circumvent against antipiracy elements of their products
  29. Trade Makrs
    Trademarks are intended to protect both the firm selling a trademarked product and the consumer buying it.

    The Landham Act (1946) - provides for the registration of a company’s trademarks. – Historically, the first user had the exclusive right to use the    particular word, name, or symbol.

    In 2003, the U.S. agreed to participate in the Madrid Protocol, which is a treaty that protects U.S. trademark rights globally.

    The Federal Dilution Act (1995) - prohibits someone from using a trademark on a noncompeting product (a “Cadillac” brush).
  30. Political- Legal Enviorment: Key Laws
    • Sherman Antitrust Act - prohibits restraint of trade
    • FTC Act - prohibits unfair methods of competition.Robinson Patman - prohibits price discrimination.
    • Food & Drug Act - prohibits adulteration & misbranding of foods and drugs.
    • NLEA - new food labeling requirements.
  31. cause marketing
    Tying the charitable contributions of a firm directly to sales produced through the promotion of one of its products.
  32. The marketing enviorment
    • Environmental trends typically arise from five sources: - social, economic, technological, competitive, and   regulatory forces.
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  33. social mareketing
    • bottom line, but now, managers also consider social profit
    • the net benefit the firm and society receive as a result of the firm’s ethics and socially responsible behavior.
Card Set
M300 Chapter 3