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MP Chapter 3

Understanding the Marketing Environment, Ethical Behavior, and Social Responsibi

TermDefinition
environmental scanning The process of acquiring information on events outside the organization to identify and interpret potential trends.
social forces The demographic characteristics and the culture of the population.
demographics Description of a population according to characteristics such as age, gender, ethnicity, income, and occupation.
baby boomers The generation of children born between 1946 and 1964.
Generation X Members of the US population born between 1965 and 1976.
Generation Y The 72 million Americans born between 1977 and 1994.
multicultural marketing Marketing programs that reflect unique aspects of different races.
culture The set of values, ideas, and attitudes that is learned and shared among the members of a group.
economy Pertains to the income and resources that affect the cost of running a business or household.
technology Inventions from applied science or engineering research.
marketspace An information-and-communication-based electronic exchange environment occupied by digitized offerings.
competition Alternative firms that could provide a product to satisfy a specific market's needs.
regulation Restrictions that state and federal laws place on business.
consumerism A movement started to increase the influence, power, and rights of consumers in dealing with institutions.
self-regulation An alternative to government control, whereby an industry attempts to police itself.
ethics The moral principles and values that govern the actions and decisions of an individual or a group.
Consumer Bill of Rights Codified the ethics of exchange between buyers and sellers, including rights to safety, to be informed, to choose, and to be heard.
code of ethics A formal statement of ethical principles and rules of conduct.
moral idealism A personal moral philosophy that considers certain individual rights or duties as universal, regardless of the concern.
utilitarianism A personal moral philosophy that focuses on the "greatest good for the greatest number."
social responsibility The idea that organizations are part of a larger society and are accountable to that society for their actions.
green marketing Marketing efforts to produce, promote, and reclaim environmentally sensitive products.
cause marketing Tying the charitable contributions of a firm directly to sales produced through the promotion of one of its products. Gap's Project (RED) would be an example of this.
Created by: mariwalsh
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