MKT 300 Chapter Notes - Chapter 3: Maastricht Treaty, Gross Domestic Product, Retail
Document Summary
Marketing environment: sum of all factors that affect a business: global and macro environment, micro environment, creating and capturing value. Competitive environment: potential threats: threat of new entrants, suppliers: bargaining power of suppliers, substitutes: threat of substitute products, intermediaries/buyers: bargaining power of buyers. Gross domestic product (gdp): the total market value of all goods and services produced by a country in a single year. Maastricht treaty: 282 directives that eliminate border controls and customs duties among members of the european union. Demographic environment: the statistical data used to describe a population: age cohort: group of people close in age who have been shaped by their generations experience with media, peers, events, and society at large. Ethical norms: do no harm, foster trust in the marketing system, embrace ethical values. Ethical values: honesty, responsibility, fairness, respect, transparency, citizenship. Business to consumer (b2c): trade involving businesses selling to consumers over the internet.
