Marketing 4

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Anonymous
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134745
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Marketing 4
Updated:
2012-02-12 17:53:19
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stutz031
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  1. External Marketing Environment (6)
    • 1) social
    • 2) demographic
    • 3) economic
    • 4) technological
    • 5) political and legal
    • 6) competitive
  2. Social Factors
    attitudes, values, lifestyle
  3. Social Factors: Core American Values
    self sufficiency (most important), upward mobility, work ethic, conformity
  4. Component Lifestyles
    practice of choosing goods and services that meet ones diverse needs and interests rather than conforming to a single, traditional lifestyle
  5. Demographic Factors: Demography
    study of peoples vital statistics, sich as their age, race, ethnicity, and location
  6. Baby Boomers Generation
    individuals born during the dramatic increase of births between 1946-1964. 77 million of them. largest demographic segment.
  7. Generation X
    40 million born between 1965-1978. matured during difficult economic conditions in the U.S. savvy and cynical consumers
  8. Generation Y
    • aka echo boom generation, 78 million. children of original baby boomers born 1979-1994. purchasing power of $200 billion annually
    • -strong sense of independence and autonomy
    • -assertive, self-reliant,emotionally and intellectually expressive, innovative, and curious
  9. Tweens
    marketers are increasingly targeting these older millennials . ages 8-14. population of 29 million, purchasing power of $39 billion
  10. Growing Ethnic Markets
    • spending power of ethnic markets:
    • -hispanics: $1 trillion
    • -african americans: $921 billion
    • -Asian Americans: $526 billion
    • diversity can result in bottom line benefits to companies
  11. Growing Ethnic Markets continued
    • -about 1 in 3 U.S. residents is a minority, representing 100 million people
    • - 7 states more than tripled their hispanic population: Alabama, Arkansas, Georgia, NC, SC, Tenn, Nevada
    • - 20% of babies born in U.S. are Latino
  12. Economic Factors (3)
    • 1) distribution of consumer income
    • 2) inflation
    • 3) recession
  13. Technological Factors: 1)Basic Research + 2)Applied Research
    • 1)pure research that aims to confirm an existing theory or to learn more about a concept phenomenon
    • 2)an attempt to develop new or improved products
  14. Political and Legal Factors (4)
    • Laws and regulations protect:
    • -new technology
    • -society
    • -businesses
    • -consumers
  15. Competitive Factors
    • -firms must work harder to maintain profits and market share
    • -more foreign firms are entering U.S. market

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