CH. 3

Question 1

What is Marketing Environment

Answer 1

The actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers

Question 2

What is Microenvironment

Answer 2

The actors close to the company that affect its ability to serve its customers— the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.

Question 3

What is Macroenvironment

Answer 3

The larger societal forces that affect the microenvironment—demographic, economic, natural, technological, political, and cultural forces

Question 4

What is Marketing Intermediaries

Answer 4

Firms that help the company to promote, sell, and distribute its goods to final buyers; resellers, physical distribution firms, marketing services agencies, and financial intermediaries

Question 5

What are Resellers

Answer 5

Distribution channel firms that help the company find customers or make sales to them

Question 6

What are Physical Distribution Firms

Answer 6

Firms that help the company stock and move goods from their points of origin to their destinations

Question 7

What are Marketing Services Agencies

Answer 7

Marketing research firms, advertising agencies, media firms, and marketing consulting firms that help the company target and promote its products to the right markets

Question 8

What are Financial Intermediaries

Answer 8

Banks, credit companies, insurance companies, and other businesses that help finance transactions or insure against the risks associated with the buying and selling of goods

Question 9

What is a Public group

Answer 9

Any group that has an actual or potential interest in or impact on an organization’s ability to achieve its objectives

Question 10

Types of Customer Markets

Answer 10

Consumer markets, Business markets, Reseller markets, Government markets and International markets

Question 11

What are Consumer Markets

Answer 11

Consist of individuals and households that buy goods and services for personal consumption

Question 12

What are Business Markets

Answer 12

Buyers of goods and services for further processing or use in their production processes

Question 13

What are Reseller markets

Answer 13

Buyers of goods and services for reselling at a profit

Question 14

What are Government Markets

Answer 14

Consist of government agencies that buy goods and services to produce public services or transfer the goods and services to others who need them

Question 15

What are International Markets

Answer 15

Consist of these buyers in other countries, including consumers, producers, resellers, and governments

Question 16

What are Major Forces in the Company’s Macroenvironment

Answer 16

Demographic, Economic, Natural, Technological, Political, Cultural

Question 17

What is Demography

Answer 17

The study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics

Question 18

What are Economic Environments

Answer 18

Economic factors that affect consumer purchasing power and spending patterns

Question 19

What is Natural Environment

Answer 19

Natural resources that are needed as inputs by marketers or that are affected by marketing activities

Question 20

What is Environmental Sustainability

Answer 20

Developing strategies and practices that create a world economy that the planet can support indefinitely

Question 21

What is Technological environment

Answer 21

Forces that create new technologies, creating new product and market opportunities

Question 22

What is Political Environment

Answer 22

Laws, government agencies, and pressure groups that influence and limit various organizations and individuals in a given society

Question 23

Reasons of government regulation on businesses

Answer 23

1) to protect companies from each other
2) to protect consumers from unfair business practices
3) to protect the interests of society against unrestrained business behavior

Question 24

What is Cultural Environment

Answer 24

Institutions and other forces that affect society’s basic values, perceptions, preferences, and behaviors

Question 25

Changes in the political environment that affect marketing worldwide

Answer 25

1) increasing legislation regulating business
2) strong government agency enforcement
3) greater emphasis on ethics and socially responsible actions