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Toms Shoes Marketing Stratagies

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Submitted By Carolanne1
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SECTION II. THE MARKETING ENVIRONMENT

SOCIAL ENVIRONMENT: WOULD BE THE ENVIRONMENT THAT’S CONTROL BY HUMANS AS CONTRASTED WITH THE NATURAL ENVIRONMENT. SOCIAL FACTORS PLAY A ROLE IN THE IMAGE THAT A PERSON MAY HAVE ALSO THE PRODUCTS IN WHICH ONE WOULD BUY.

Demographic Environment: Would be the demographic factors of the market in how a company operates to target population for effective marketing. An example would be Wal-Mart and how they use lower prices to target people to shop at their store. Demographic Factors are the statics like race, ethnicity, and location.

Economic Environment: An external environment of a company that determine the income and wealth-generating ability of the economy. The greatest concern to most marketers is consumer’s income, inflation, and recession. These three factors play a major role in the economic environment.

Technological Environment: Parts of the firm’s external environment in which changes in technology affect the firm’s marketing effort. Basic and applied research is used to develop new and improved products.

Political Environment: The basic understanding of the political legal environment when the government implement’s laws or regulations which affects the way a business. There has to be government regulations to protect innovators of new technology also to protect consumers.
Competitive Environment: Also known as the market structure which is the system in which a business competes with another business?

References www.businessdictionary.com/definition/demographic-environment.html www.buseco.monash.edu.au/mkt/dictionary/ttt.html

Title: MKTG5 5th Ed.
Author(s): Lamb, C. W., Hair, J. F., & McDaniel, C.

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By: Carolyn Peterson

AB/MT219: Marketing...

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