BA1090 - Chapter 2 (The Marketing Environment)

Environmental Scan

The process of continually acquiring information on outside events to identify external trends, opportunities, or threats.

SWOT Analysis

The assessment of an organization's strengths, weaknesses, opportunities, and threats.

Demographics

Statistical data on a population according to characteristics like age, gender, ethnicity, income, and education.

Macroeconomic Forces

The state of a country's economy as a whole, including GDP, inflation, unemployment, and consumer confidence.

Microeconomic Forces

Supply and demand of goods and services impacted by individual, household, and company purchasing decisions.

Technological Forces

Inventions or innovations from scientific or engineering research that can replace existing products and shape marketing.

Internet of Things (IoT)

A network of products embedded with connectivity-enabled electronics that can predict consumer preferences and behaviour.

Competitive Forces

Present and potential competitors that a company must monitor when designing its marketing strategy.

Regulatory Forces

Restrictions placed on businesses, products, or services by the government or industry associations.

CASL

Canada's anti-spam legislation protecting consumers and businesses from unwanted commercial electronic messages.