MatO's Marketing 101 Ch 03

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MatO's Marketing 101 Ch 03
2013-10-01 22:13:26
Marketing 101

Ch 3 vocab
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  1. Mission Statement
    Sets out the organization's basic purpose for being
  2. Competitive Environment
    The number and types of competitors the marketing manager must face, and how they may behave
  3. Competitor Analysis
    An organized approach for evaluating the strengths and weaknesses of current and potential competitors' marketing strategies
  4. Competitive Rivals
    A firm's closest competitors
  5. Competitive barriers
    The conditions that may make it difficult, or even impossible, for a firm to compete in a market
  6. Economic Environment
    Refers to Macro-Economic factors, including national income, economic growth, and inflation that affect patterns of consumer and business spending
  7. Technology
    The application of science to convert an economy's resources to output
  8. Internet
    A system for linking computers around the world
  9. Nationalism
    An emphasis on a country's interests before everything else
  10. North American Free Trade Agreement (NAFTA)
    Lays out a plan to reshape the rules of trade among the United States, Canada, and Mexico
  11. Cultural and Social Environment
    Affects how and why people live and behave as they do
  12. Gross Domestic Product (GDP)
    The total market value of all goods and services provided in a country's economy in a year by both residents and non-residents of that country
  13. Senior Citizens
    People over 65
  14. Baby Boomer
    People born between 1946 and 1964
  15. Generation X
    People born between 1965 and 1977
  16. Generation Y
    People born between 1978 and 1994
  17. Sustainability
    The idea that it is important to meet present needs without compromising the ability of future generations to meet their own needs
  18. Strategic Business Unit
    An organizational unit (within a larger company) that focuses its efforts on some product-markets and is treated as a separate profit center