Attainment of organizational
objectives by predicting and influencing the competitive, political&-legal,
economic, technological, and social&-cultural environments.
Interactive process that occurs
in the marketplace among marketers of directly competitive products, marketers
of products that can be substituted for one another, and marketers competing
for the consumer's purchasing power.
Strategy of developing and
distributing goods and services more quickly than competitors.
Component of the marketing
environment consisting of laws and interpretations of laws that require firms
to operate under competitive conditions and to protect consumer rights.
Factors that influence consumer
buying power and marketing strategies, including stage of the business cycle,
inflation, unemployment, resource availability, and income.
Process of reducing consumer
demand for a good or service to a level that the firm can supply.
Applications to marketing of
knowledge based on discoveries in science, inventions, and innovations.
Component of the marketing
environment consisting of the relationship between the marketer and society and
its culture.
Social force within the environment
designed to aid and protect the consumer by exerting legal, moral, and economic
pressures on business and government.
As stated by President Kennedy
in 1962, the consumer's right to choose freely, to be informed, to be heard, and
to be safe.
Marketer's standards of conduct
and moral values.
Marketing philosophies,
policies, procedures, and actions that have the enhancement of society's
welfare as a primary objective.
