Accounting MRK108 Lecture Notes - Corporate Social Responsibility, Marketing Mix
12 Mar 2014
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Document Summary
Chapter 2 the marketing environment, social responsibility and ethics: self-sufficiency, upward mobility, work ethics, and, tweens and teens wider access to information, technical sophistication, and brand. Economic factors: consumer income the median canadian income was ,410 in 2009. Income is an important indicator for marketers: purchasing power cost of living in canada varies depending on cities. This will impact the purchases of shopping goods: inflation will compel consumers to make more economical purchases to maintain their standard of living. They will react more to price-based incentives: recession in 2008 9 recessionary pressures slowed down the economy, reducing consumer spending. Marketing managers cannot control the elements in the external environment. The environment shapes and moulds the target market. Social, demographic, economic, technology, political, legal, and competitive factors will surround a given target market. Companies need to implement strategies to shape the external environment.
