MKT 100 Lecture Notes - Lecture 2: Millennials, Mortgage Insurance, Socioeconomic Status

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Mary Foster

Document Summary

A business in the mature stage of the life cycle has to be aware of what"s happening in the larger marketplace if it is to maintain its market share and place in the minds of consumers. *all the factors below affect different individuals (businesses) differently depending on circumstances. P : political-legal environment or laws and regulations to which everyone must abide (some could be more important to certain businesses than others) ex. Environmental control regulations regarding pollution will have greater effect on an energy company than a regular retailer. This is also concerned about the political system in which the business operates in ex. Canada we have a democracy (bribes and corruption are not tolerated), in china or. *thus for a company to expand to other regions of the world they must be aware of the political systems that govern the nation. There are differences in democratic systems ex.