mrkting ch.4 marketing enviroment

marketing enviroment

outside factors that are in contorl of the market

enviromental factors of the market

social, demographic, growing ethics, econ, tech, political, lega, and competative FACTORS

social factors

enviroment factors that related to how we fucntion as a society, we change/grow as the world changes

demographic factors

Age, income, gender, household, ect

growing ethics market factor

different cultures/races minorities that grow and are targeted for campaigns / growth

economic factors

income, purchasing power, inflation, recession

tech factors

research and development/ R&D investments a culture of innovaiton to advancements in tech

polictical/ legal factors

federal government creates regulations that affect aspecting of the marketing mix(all the factors)

federal legislation

regulates markets and protects consumers

state laws

vary in each state

regulatory agencies

FDA FTC set regulations for companies

compatative factors

can alter market place dynamic

competative factors cause 1

competition for market share and profits

competative factors cause 2

global competition where globalization causes an increase in competition