COMMERCE 2MA3 Chapter Notes - Chapter 3: Environmental Resource Management, Consumer Protection, Strategic Alliance
2 Oct 2012
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Document Summary
Chapter 3: the marketing environment, ethics and social responsibility. Environmental scanning: process of collecting information about the external marketing environment to identify and interpret potential trends. Goal of this process is to determine if the trends are a significant opportunity to the company or pose major threats to it. Environmental management: attainment of organizational objectives by predicting and influencing the competitive, political-legal, economic, technological and social-cultural environments. Strategic alliance: partnership in which two or more companies combine resources and capital to create competitive advantages in a new market. Competitive environment: 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. Monopoly: market structure in which a single seller dominates trade in a good or service for which buyers can find no close substitutes.
