About This Chapter
MEGA Marketing: Environments and Strategies - Chapter Summary
The lessons in this chapter cover various aspects of marketing under the consideration of environmental factors as well as several marketing terms and approaches. Studying with this chapter can help you to ensure a firm grasp of these topics. The video lessons in this chapter will provide a detailed yet time-efficient review of:
- Influences of environment on marketing strategy
- Social factors in marketing
- Consumer and industry reaction to the market and economy
- Foreign and domestic business competition
- Cognitive dissonance in marketing
- Evoked set
- Brick-and-mortar store
- Cash cow and co-branding
- Cause-related marketing
You'll be able to repeat or skip to different key points within the video using the timeline feature, allowing you to focus on the parts of the chapter where you feel you need extra review. Our professional instructors are available for your questions if you're not finding your answer within the lesson. At the end of each lesson you'll find a practice quiz where you can assess your progress and understanding, and you can re-take the quizzes until you feel confident that you're ready to move on. The quizzes will also help you prepare for the types of questions you'll see on the MEGA marketing exam.
MEGA Marketing: Environment and Strategies Chapter Objectives
The MEGA marketing exam is a computer-based test comprised of 100 multiple-choice questions, to be completed in two hours or less. A passing score on the exam is 220. This chapter will most help you prepare for the marketing functions portion of the exam, which in total makes up approximately 36% of your test score. Studying with this chapter will play a big part in ensuring that you understand all the strategies, factors and terms you'll encounter on the test.
1. Marketing Environment: External Influences on Marketing Strategy
What influences how a business sells its products - and itself? In this lesson, you will learn more about external influences that affect the marketing strategy of a business.
2. Attitudes, Values & Belief: Social Factors in Marketing
Why do consumers make the choices they do? What causes them to purchase certain products? In this lesson, you will learn how the culture, attitudes, values and beliefs of consumers are the social factors that affect how marketers create a successful target marketing mix.
3. Consumer and Industry Reaction to the Market and Economy
Marketers have to understand the environmental factors that can affect a marketing plan. The economy has a dramatic impact on a marketer's overall strategy for pricing, product development, promotion and logistics.
4. Foreign and Domestic Business Competition: Definition and Regulations
Marketers have to understand the environmental factors that can affect a marketing plan. The competitive landscape has a dramatic impact on a marketer's overall strategy for pricing, product development, promotion and logistics.
5. Cognitive Dissonance in Marketing: Definition & Examples
Marketers capitalize on cognitive dissonance by framing their advertising in such a way that the easiest and most-obvious solution to reduce the dissonance induced is to buy the product.
6. Evoked Set in Marketing: Definition & Explanation
Marketers want their brand to be part of an evoked set. This is the group of brands most likely to be purchased. It's narrowed down from a total set to an awareness set and then an evoked set. Learn more in this lesson about an evoked set.
7. Brick-And-Mortar Store: Definition & Marketing Strategies
Learn about the description of a brick-and-mortar store as well as its methods of selling and consumer outreach. Explore the benefits of the brick-and-mortar approach and make relevant comparisons with other selling methods.
8. Cash Cow in Marketing: Definition, Matrix & Examples
A cash cow is a part of portfolio analysis in marketing. In this lesson, you'll learn what portfolio analysis is and how to pinpoint cash cows in your business.
9. Cause-Related Marketing: Example Campaigns & Definition
Sometimes businesses join with social causes for mutual benefit. In this lesson, you'll learn about cause-related marketing. A short quiz follows the lesson to give you a chance to reinforce your knowledge.
10. Co-Branding: Definition, Strategies & Example
Co-branding has been gaining a lot of steam as a marketing strategy to increase sales. But what do we mean when we say 'co-branding,' and how does it apply in the business world today? Let's take a closer look in the lesson below.
Earning College Credit
Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.
Other chapters within the MEGA Marketing: Practice & Study Guide course
- MEGA Marketing: Basic Concepts
- MEGA Marketing: Communication Methods & Functions
- MEGA Marketing: Ethics & Public Relations
- MEGA Marketing: The Business Cycle
- MEGA Marketing: Market System Economics & Politics
- MEGA Marketing: Economic Growth & Indicators
- MEGA Marketing: Business Ownership
- MEGA Marketing: Business Plans
- MEGA Marketing: Functions of Management
- MEGA Marketing: Principles of Financial Management
- MEGA Marketing: Business Calculation Basics
- MEGA Marketing: Interpreting Data & Graphs
- MEGA Marketing: Graphing & Evaluating Equations & Functions
- MEGA Marketing: Quadratic Equations & Functions
- MEGA Marketing: Probability & Statistics for Business
- MEGA Marketing: Depreciation & Salvage Values
- MEGA Marketing: Interest & Purchases
- MEGA Marketing: Financial Analysis Calculations
- MEGA Marketing: Product Development & Retailing
- MEGA Marketing: Services Marketing
- MEGA Marketing: The Marketing Mix & Promotional Strategies
- MEGA Marketing: Consumer Protection Laws
- MEGA Marketing: Selling & Pricing Strategy
- MEGA Marketing: Channel Management
- MEGA Marketing: Segmentation & Product Marketing
- MEGA Marketing: Competitive Advantage
- MEGA Marketing: Consumer Decision Making
- MEGA Marketing: International Marketplace
- MEGA Marketing: Research & Data Applications
- MEGA Marketing: Computer Literacy
- MEGA Marketing: Careers in Marketing
- MEGA Marketing Flashcards