Analyzing the market Environment

Question 1

Marketing Environment

Answer 1

The marketing environment includes actors and forces that affects the marketing management’s ability to build and maintain successful relationships with the customers.

Question 2

Types of marketing environment

Answer 2

Macro environment
Micro environment

Question 3

Micro environment

Answer 3

Consists of actors close to the company that affect its ability to serve its customers, suppliers, the company, marketing intermediaries, customer markets, public and competitors.

Question 4

Macro environment

Answer 4

Consists of larger societal forces that effect the micro environment like demographics, economics, cultural, political, natural and technological forces.

Question 5

Suppliers

Answer 5

Provides resources to produce goods and services
Treat as partners to provide customer value.

Question 6

Marketing intermediaries

Answer 6

Help the company to promote, sell and distribute its products to the final buyers.

Question 7

Types of marketing intermediaries

Answer 7

Resellers
Financial intermediaries
Physical distribution firms
Marketing services agencies

Question 8

Competitors

Answer 8

Firms must gain strategic advantage by positioning their offering against competitors offerings.

Question 9

Public

Answer 9

Any group that has an actual or potential interest in or impact on an organizations ability to achieve its objectives.

Question 10

Demography

Answer 10

Is the study of human populations age, gender, location, size, density, race, occupation and other statistics.

Question 11

Demographic environment

Answer 11

It involves people, and people make up the markets.

Question 12

Demographic trends

Answer 12

Shifts in the age, family structure, geographic population, educational characteristics and population diversity.

Question 13

Baby boomers

Answer 13

Born between 1946 t0 1964
Rethinking the purpose and value of their work, responsibilities and relationships.
Spending more carefully and planning to work longer

Question 14

Generation X

Answer 14

people born between 1965 to 1976
High parental divorce rates
Cautious economic outlook
Less materialistic
Family comes first

Question 15

Millennials (Gen y or echo boomers)

Answer 15

Those born between 1977 to 2000
Most financially strapped generation
Higher unemployment
More debts
Comfortable with technology

Question 16

Generational Marketing

Answer 16

Is important in segmenting the people by lifestyle or life stage instead of age.

Question 17

Economic environment

Answer 17

It consists of factors that effect consumer purchasing power and spending factors

Question 18

Natural environment

Answer 18

Natural resources that are need as input by marketer or effected by marketing activities

Question 19

Cultural environment

Answer 19

Consists of institutions and other forces that effect a society’s basic values, perception and behaviours

Question 20

Views on responding

Answer 20

Uncontrollable
Proactive
Reactive