LO+3

By, Cory Miller, Brian Rentz, and Chris Hoke #3
 * ** Demographics ** The statistical data of a population, esp. those showing average age, income, education, etc.
 * [|How Demographics Can Design Your Firm’s Future]
 * ** Social Change ** Change in social structure: the nature, the social institutions, the social behavior or the social relations of a society, community of people, and so on.
 * [|Social Media Will Change Your Business]
 * ** Economic Conditions ** The condition of the economy.
 * [|Economic conditions]
 * ** Political and Legal Factors ** Ex. environmental regulations and protection, tax policies, international trade regulations and restrictions, contract enforcement law, consumer protection, employment laws, government organization/ attitude, competition regulation, political stability, and safety regulations
 * [|Business Environment- Political and Legal Factors]
 * ** Technology ** The branch of knowledge that deals with the creation and use of technical means and their interrelation with life, society, and the environment, drawing upon such subjects as industrial arts, engineering, applied science, and pure science.
 * [|Technology: How It Effects The Value of Your Business]
 * ** Competition ** The act of competing, as for profit or a prize; rivalry.
 * [|How does strategic competition affect firm values? a study of new product announcements]
 * ** Target Market ** The specific group of customers that a company aims to capture. They have been identified as people with needs or wants that can be met with the products or services from this company. **R**
 * ** Marketing Mix ** A unique blend of product, distribtion, promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market.