MKT 337 Chapter Notes - Chapter 3: Disposable And Discretionary Income, Gross Income, Millennials
Document Summary
The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is called environmental scanning. Social forces of the environment include the demographic characteristics of the population and its values. Describing a population according to selected characteristic such as age, gender, ethnicity, income and occupation is demographics. Blended family: divorced parents that remarry with other divorced parents which combines families. Metropolitan: at least 50,000 people with more people in adjacent territory with high levels of social and economic integration. Micropolitan: at least 10,000 people with more people in adjacent territory with high levels of social and economic integration. Multicultural marketing appeals to the diversity in america. Value consciousness: the concern for obtaining the best quality, features, and performance of a product or service for a given price. Gross income: the total amount of money made in one year by a person, household, or family.
