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Mission Statement
Sets out the organization's basic purpose for being
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Competitive Environment
The number and types of competitors the marketing manager must face, and how they may behave
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Competitor Analysis
An organized approach for evaluating the strengths and weaknesses of current and potential competitors' marketing strategies
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Competitive Rivals
A firm's closest competitors
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Competitive barriers
The conditions that may make it difficult, or even impossible, for a firm to compete in a market
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Economic Environment
Refers to Macro-Economic factors, including national income, economic growth, and inflation that affect patterns of consumer and business spending
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Technology
The application of science to convert an economy's resources to output
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Internet
A system for linking computers around the world
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Nationalism
An emphasis on a country's interests before everything else
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North American Free Trade Agreement (NAFTA)
Lays out a plan to reshape the rules of trade among the United States, Canada, and Mexico
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Cultural and Social Environment
Affects how and why people live and behave as they do
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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
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Senior Citizens
People over 65
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Baby Boomer
People born between 1946 and 1964
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Generation X
People born between 1965 and 1977
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Generation Y
People born between 1978 and 1994
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Sustainability
The idea that it is important to meet present needs without compromising the ability of future generations to meet their own needs
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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
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