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Wednesday, August 17, 2011

Marketing Glossary

Environment, External
The complex set of physical and social stimuli in the external world of consumers.
Environmental Analysis
Gathering data regarding political, cultural, social, demographic, economic, legal, international and ecological forces , identifying trends affecting agency.
Environmental Monitoring
Keeping track of a changes in the environment.
Erratic Demand
A pattern of demand for a product that is varied and unpredictable, e.g., some best sellers, or specific online databases randomly assigned in curriculum by teachers.
Evoked Set
A set of alternatives that are activated directly from memory--certain brands considered during the buying process.