The Marketing Environment (15) Flashcards
The marketing environment includes all of the…
forces that affect a company’s ability to do business.
The marketing environment includes all of the ______ that affect a company’s ability to do business.
forces
What includes all of the forces that affect a company’s ability to do business?
the marketing environment
What are the two categories of environments that affect a company and its business strategies?
the immediate environment and the external environment.
What is does the immediate environment include?
The immediate environment includes players (such as companies, people, groups, or organizations) that can directly influence a company’s ability to market successfully.
Another name for the immediate environment is…
microenvironment
What are players in the immediate environment?
companies, people, groups or organizations that can directly influence a company’s ability to market successfully
The immediate environment includes players (such as companies, people, groups, or organizations) that can _______ influence a company’s ability to market successfully.
directly
The external environment includes…
the uncontrollable forces that affect the company and all actors in the immediate environment
Can the forces in the external environment be controlled?
No, they are uncontrollable
The forces in the external environment affect…
the company and all of the actor in the immediate environment
The forces in the external environment affect establish….
the surrounding context in which business is conducted.
The forces in the external environment establish the surrounding _____ in which business is conducted.
context
What are the forces in the external environment?
political, economic, social, technological, legal, and environmental forces.
Another name for the external environment is…
the macroenvironment
Do the forces in the macroenvironment affect the forces in the immediate environment?
Yes
What are the functions of intermediaries?
Intermediaries help get the product to customers and can help fulfill functions such as sales and distribution.
Intermediaries help get the ______ to customers
product
Name some types of intermediaries…
several types of intermediaries are wholesalers, retailers, agents, brokers, and dealers
Can conflict occur between intermediaries?
Yes
While conflict can occur with and between intermediaries, it’s important to take time to find intermediary partners that are a good fit for a company.
Employees affect everything from product ____ to customer _____.
sales, service
What do employees affect?
everything from product sales to customer service
Who are shareholders?
Shareholders are investors in a company and have a stake and even influence in the decisions that are made.
Shareholders are _______ in a company.
investors
Shareholders have a ______ and even influence in the decisions that are made
stake
Why are shareholders important immediate environment forces?
They have a stake and sometimes an influence on decisions made
For many marketers, part of a their job is to communicate how well a product or company is doing to the __________.
shareholders
Which force/actor in the immediate environment is the main focus of marketers?
Customers
What do customers influence?
the purchases of other customers in the market
How do customers influence the purchases of other customers in the market?
By word of mouth
The _____ and _______ of the customer are the very starting point for marketing.
wants, needs
What are the starting points for a marketer?
the wants and needs of a customer
The actions of competitors can ______ a marketer’s strategy.
shape
How can the actions of competitors shape an immediate environment?
Powerful competitors in a market can even set the price of a particular product or service. They can also validate your product ideas, help educate a target market, and drive product innovation.
Powerful competitors in a market can set the_____ of a particular product or service.
price
Powerful competitors in a market can ______ your product ideas, help ______ a target market, and ______ product innovation.
validate, educate, drive
If suppliers increase prices, then the marketer must decide whether or not to ______ prices as well to maintain a certain profit margin.
increase
If a supplier increases prices, then the marketer must decide….
whether or not to crease prices as well to maintain a certain profit margin.
Why must a marketer make sure that suppliers maintain a certain quality level?
If the supplier produces sub-par products, then that affects customer satisfaction and brand
The marketer must also make sure that suppliers maintain a certain _____ level.
quality
The marketer must also make sure that suppliers maintain a certain….
quality level
