One Component of the External Environment Marketing Managers Must Understand

question 40

Essay

One component of the external environment marketing managers must understand and react to is the economic environment.Briefly describe the four economic areas of greatest concern to U.S.marketers and the marketing implications of trends in these four areas.

Define the nature of mass media and its characteristics.

Analyze the dynamic between structure and agency, especially in the media industry.

Understand the sociological process of consuming and interpreting media content.

Examine the impact of technology on the media industry and its content.

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Definitions:

Competition

The rivalry among businesses for consumers’ dollars.

Intrapreneurs

Individuals in large firms who take responsibility for the development of innovations within the organizations.

Stock

Shares of a corporation that may be bought or sold.