Ch 3

Question 1

The Marketing Environment

Answer 1

All the factors and forces outside marketing that affect the marketing management ability to develop and maintain successful relationships with its target customers

Question 2

Micro environment

Answer 2

Factors close to the company that affect its ability to serve its customers

Question 3

Macro environment

Answer 3

Larger societal forces

Question 4

Intermediaries

Answer 4

Help company promote, sell, distribute goods to final buyers

• resellers, retailers, distribution, transport

Question 5

Demographics

Answer 5

Age, gender, income, education, ethnicity

Question 6

Economic Environment

Answer 6

Consists of factors that affect consumer purchasing power and spending patterns

Question 7

Value Marketing

Answer 7

Offering the right combination of product quality & good service at a fair price

(rather than offering a high quality at a high price or less quality at a very low price)

Question 8

Cultural Environment

Answer 8

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