CH. 3 Flashcards
What is Marketing Environment
The actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers
What is Microenvironment
The actors close to the company that affect its ability to serve its customers— the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.
What is Macroenvironment
The larger societal forces that affect the microenvironment—demographic, economic, natural, technological, political, and cultural forces
What is Marketing Intermediaries
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
What are Resellers
Distribution channel firms that help the company find customers or make sales to them
What are Physical Distribution Firms
Firms that help the company stock and move goods from their points of origin to their destinations
What are Marketing Services Agencies
Marketing research firms, advertising agencies, media firms, and marketing consulting firms that help the company target and promote its products to the right markets
What are Financial Intermediaries
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
What is a Public group
Any group that has an actual or potential interest in or impact on an organization’s ability to achieve its objectives
Types of Customer Markets
Consumer markets, Business markets, Reseller markets, Government markets and International markets
What are Consumer Markets
Consist of individuals and households that buy goods and services for personal consumption
What are Business Markets
Buyers of goods and services for further processing or use in their production processes
What are Reseller markets
Buyers of goods and services for reselling at a profit
What are Government Markets
Consist of government agencies that buy goods and services to produce public services or transfer the goods and services to others who need them
What are International Markets
Consist of these buyers in other countries, including consumers, producers, resellers, and governments
What are Major Forces in the Company’s Macroenvironment
Demographic, Economic, Natural, Technological, Political, Cultural
What is Demography
The study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics
What are Economic Environments
Economic factors that affect consumer purchasing power and spending patterns
What is Natural Environment
Natural resources that are needed as inputs by marketers or that are affected by marketing activities
What is Environmental Sustainability
Developing strategies and practices that create a world economy that the planet can support indefinitely
What is Technological environment
Forces that create new technologies, creating new product and market opportunities
What is Political Environment
Laws, government agencies, and pressure groups that influence and limit various organizations and individuals in a given society
Reasons of government regulation on businesses
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
What is Cultural Environment
Institutions and other forces that affect society’s basic values, perceptions, preferences, and behaviors
Changes in the political environment that affect marketing worldwide
1) increasing legislation regulating business
2) strong government agency enforcement
3) greater emphasis on ethics and socially responsible actions
