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Chapter 3 - Scanning the Marketing Environment
Baby Boomers | the generation of children born between 1946 and 1964 |
Blended Family | a family formed by merging two previously separated units into a single household |
Competition | the alternative firms that could provide a product to satisfy a specific market’s needs |
Consumerism | A grassroots movement started in the 1960s to increase the influence, power, and rights of consumers in dealing with institutions |
Culture | he set of values, ideas, and attitudes that are learned and shared among the members of a group |
Demographics | describing a population according to selected characteristics such as age, gender, ethnicity, income, and occupation |
Discretionary Income | the money that remains after paying for taxes and necessities |
Disposable Income | the money a consumer has left after paying taxes to use for necessities such as food, housing, clothing, and transportation |
Economy | pertains to the income, expenditures, and resources that affect the cost of running a business and household |
Electronic Commerce | any activity that uses some form of electronic communication in the inventory, exchange, advertisement, distribution, and payment of goods and services |
Environmental Scanning | the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends |
Generation X | includes the 15% of the population born between 1965 and 1976 (also called baby bust) |
Generation Y | includes the 72 million Americans born between 1977 and 1994 (also called echo-boom or baby boomlet) |
Gross Income | the total amount of money made in one year by a person, household, or family unit (also known as money income and the Censes Bureau) |
Marketspace | information- and communication-based electronic exchange environment mostly occupied by sophisticated computer and telecommunication technologies and digitized offerings |
Multicultural Marketing | combinations of the marketing mix that reflects the unique attitudes, ancestry, communication preferences, and lifestyles of different races |
Regulation | restrictions state and federal laws place on business with regard to the conduct of its activities |
Self-Regulation | an alternative to government control where an industry attempts to police itself |
Social Forces | the demographic characteristics of the population and its values |
Technology | inventions or innovations from applied science or engineering research |
Value Consciousness | the concern for obtaining the best quality, features, and performance of a product or service for a given price that drives consumption behavior |
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Responding to environmental problems has always been a no-win proposition for managers, report Noah Walley and Bradley Whitehead in “It’s Not Easy Being Green” (May–June 1994). Help the environment and hurt your business, or irreparably harm your business while protecting the earth. Recently, however, a new common wisdom has emerged that promises the ultimate reconciliation of environmental and economic concerns. In this new world, both business and the environment can win. Being green is no longer a cost of doing business; it is a catalyst for innovation, new market opportunity, and wealth creation.
The idea that a renewed interest in environmental management will result in increased profitability for business has widespread appeal. In a new green world, managers might redesign a product so that it uses fewer environmentally harmful or resource-depleting raw materials—an effort that if successful could result in cuts in direct manufacturing costs and inventory savings.
This new vision sounds great, yet it is highly unrealistic, Walley and Whitehead argue. Environmental costs are skyrocketing at most companies, with little chance of economic payback in sight. Given this reality, they question whether “win-win” solutions should be the foundation of a company’s environmental strategy.
Twelve experts assess both viewpoints and offer their comments.
Should “win-win” solutions should be the foundation of a company’s environmental strategy?
A version of this article appeared in the July–August 1994 issue of Harvard Business Review.