Marketing environment
the actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers .
Business ethics
rules of conduct for an organization .
Codes of ethics
written standards of behavior to which everyone in the organization must subscribe
Corrective advertising
advertising that clarifies or qualifies previous deceptive advertising claims
Puffery
claims made in advertising of product superiority that cannot be proven true or untrue
Slotting allowance
a free paid by a manufacture to retailer in exchange for agreeing to place products on the retailers shelves
Culture diversity
a management practice that actively seeks to include people of different sexes , races , ethnic groups , and religions in an organization's employees , customers , suppliers and distribution channel partners
Micro-environment
the actors close to the company that affect its ability to serve its customers - the company the company , suppliers , marketing , intermediaries , customer markets , competitors and publics
Cause marketing
marketing activities in which firms seek to have their corporate identity linked to a good cause through advertising , public and publicity .
Green marketing
a marketing strategy that supports environmental stewardship by creating an environmentally founded differential benefits in the minds of consumers
Environmental stewardship
a position taken by an organization to protect or enhance the natural environment as it conducts its business activities
Consumerism
a social movement that attempts to protect consumers from harmful business practices
Consumer bill of rights
the rights of consumers to be protected by the federal government
Bribery
when someone voluntarily offers payment to get an illegal advantage
Extortion
when someone in authority extracts payment under duress
Public
any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives .
Marketing intermediaries
firms that help the company to promote , sell , and distribute its goods to final buyers
World trade
the flow of goods & services among different countries - the value of all the exports and imports of the world's nations
Counter trade
a type of trade in which goods are paid for with other items instead of the cash
protectionism
a policy adopted by a government to give domestic companies an advantage .
Import quotas
limitations set by a government on the amount of a product allowed to enter or leave a company
Embargo
a quota completely prohibiting specified goods from entering or leaving a country
Tariffs
taxis and imported goods - GA AT - WTO .
macro - environment
the larger societal forces that affect the micro-environment - demographic - economic - natural - technological - political and culture forces.
Social responsibilities
a management practice in which organizations seek to engage in activities that have a positive effect on society and promote the public good
Demography
the study of human populations in term of size , density , location , age , gender , race , occupation and other statistics
Culture value
a society's deeply held beliefs about right and wrong ways to live
Collectivist cultures
cultures in which people subordinate their personal goals to those of a stable community
Individualist cultures
cultures in which people tend to attach more importance to personal goals than to those of the large community
Norms
specific rules dictating what is right or wrong - acceptable or unacceptable
Custom
a norm handed down from the past that controls basic behaviors
Mores
costumes with a strong normal overtone
Conventions
norms regarding the conduct of everyday life
Ethnocentrism
the tendency to prefer products or people of one's own culture
Economic environment
factors that affect consumer buying power and spending patterns
Economic communities
groups of countries that band together to promote trade among themselves and to make it easier for members nations to compete elsewhere
Economic infrastructure
the quality of a countries distribution , financial and communications system
Level of economic development
the border economic picture of a country
Less developed country - LDC
a country at lowest stage of economic development
Standard of living
an indicator of the average quality and quantity of goods and services consumed in a country
Developing countries
countries in which the economy is shifting its emphasis from the agriculture to industry
Developed country
a country that boasts sophisticated marketing systems , strong private enterprise , and beautiful market potential for many goods and services
Business cycle
the over all patterns of change in the economy - including period of prosperity , rescission , depression and recovery that affect consumer and business purchasing power
Engel's laws
Differences noted over a century ago by Ernst Engels in how people shift their spending across food , housing , transportation , health care and others goods and services categories as family income rises
Natural environment
natural resources that are needed as inputs by marketers or that affected by marketing activities
Technological environment
forces that are create new technologies creating new product and market opportunities
Political environment
laws , government agencies and pressure groups that influence and limit various organizations and individuals in a given society
Culture environment
institutions and other forces that affect society's basic values , perceptions , preferences and behaviors
TO BE CONTINUED NEXT SATURDAY
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