Ch. 3 Analyzing the Marketing Environment

Question 1

Microenvironment

Answer 1

The actors close to the company that affect its ability to serve its customers–the company, suppliers, marketing intermediaries, customer markets competitors, and publics. Pg. 66

Question 2

Macroenvironment

Answer 2

The larger societal forces that affect the microenvironment–demographic, economic, natural, technological, political, and cultural forces. Pg. 66

Question 3

Baby boomers

Answer 3

The 78 million people born during the years following World War II (1946) and lasting until 1964.
Over the years, baby boomers have been one of the most powerful forces shaping the marketing environment. Pg. 71

Question 4

Generation X

Answer 4

The 49 million people born between 1965 and 1976 in the “birth dearth” following the baby boom.

Question 5

Millennials (or Generation Y)

Answer 5

The 83 million children of the baby boomers born between 1977 and 2000.

Question 6

Economic environment

Answer 6

Economic factors that affect consumer purchasing power and spending patterns.

Question 7

Political environment

Answer 7

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