MKT 3010Review Sheet: Chapter 5TERMS-You are responsible for all vocabulary in Chapter 5.VIDEOSYou are responsible for knowing the content of all videos shown in class and understanding how they relate to the course material.YOU WILL BE HELD RESPONSIBLE FOR THE FOLLOWING MATERIAL:Chapters 5 – Analyzing the Marketing Environment- Who is at the center of all marketing activities and how do they affect marketers?- What is included in the immediate environment?o Company capabilities Tangible Resource- Financial, physical, technological Intangible Resource- Brand reputation, culture, intellectual property Human Resources- Skills and incentives Global Resources- International labor, International offices, International distribution- What are examples of core capabilities/competencies and why are they important?o Financial, physical, technological- What is involved in understanding competitors and competitive intelligence? Why do companies take the time to identify what competitors are doing?o Competitors Identify competitors- Direct- Indirect Competitive intelligence Proactive vs. Reactive- How do corporate partners relate to a firm? What are some examples of corporate partners and why are they important?o Firms are not of allianceso Align with competitors, supplies, etc.- What are macroenvironmental factors? What does each entail (including examples)? Why are they important to marketers? *You are only responsible for the content in Exhibit 5.6 Consumer Protection Legislation that was discussed in class. We will come back to Exhibit 5.6 during the semester.o Demographics Generational cohorts- Baby Boomers- Gen X- Gen Yo Millennial- Gen Z Income- Tied to purchasing power- Middle class in decline Education- Tied to income & occupation Gender- Male/Female roles Ethnicity - 2050- 2010 Censuso Social Trends Societal issues, values, concerns that help to shape culture- Green movement- Privacy concerns- Time-poor society- Fair labor/wages- Price sensitivity/thrift- Heath &wellness concernso Technological Advances Improves value of products/ services- New products- New forms of communication- New retail channelso Economic Situation Affects how consumers buy Affects how many is spent Examples:- Inflation- Unemploymento “altruism marketing”- Interest rateso Political/Regulatory Environment Components- Political Parties- Government Organizations- Legislation & Laws Implications- Dictates legal competitive practices- Consumer protection- Industry-specific regulations Political/Regulatory Environment- 1890 Sherman Act- 1914 Clayton ActYOU WILL NOT BE HELD RESPONSIBLE FOR THE FOLLOWING MATERIAL:-Exhibits: 5.5-Specific details about the “Social & Mobile Marketing”, “Adding Value”, and “Ethical & Societal Dilemma” modules material, though reading of these areas is recommended as it may aid in you better understanding the