Ch 3 Analyzing the marketing environment

Question 1

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

microenvironment consists of

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

macroenvironment consists of

Answer 3

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

Question 4

Marketing intermediaries

Answer 4

promote, sell, and distribute other’s products to final buyers. They include resellers, physical distri-bution firms, marketing services agencies, and financial intermediaries. Resellers are distribution channel firms that help the company find customers or make sales to them.

Question 5

Physical distribution firms

Answer 5

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

Question 6

Marketing services agencies

Answer 6

are the 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 7

Financial intermediaries

Answer 7

include 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 8

A public is

Answer 8

any group that has an actual or potential interest in or impact on an organization’s ability to achieve its objectives. We can identify seven types of publics:

Question 9

Financial publics:

Answer 9

This group influences the company’s ability to obtain funds. Banks, investment analysts, and stockholders are the major financial publics.

Question 10

Media publics:

Answer 10

This group carries news, features, editorial opinions, and other content. It includes television stations, newspapers, magazines, and blogs and other social media.

Question 11

Government publics:

Answer 11

Management must take government developments into account. Market- ers must often consult the company’s lawyers on issues of product safety, truth in advertising, and other matters.

Question 12

Citizen-action publics:

Answer 12

A company’s marketing decisions may be questioned by consumer orga- nizations, environmental groups, minority groups, and others. Its public relations department can help it stay in touch with consumer and citizen groups.

Question 13

Local publics:

Answer 13

This group includes neighborhood residents and community organizations. Large companies usually create departments and pro- grams that deal with local community issues and provide community support.

Question 14

General public:

Answer 14

A company needs to be concerned about the general public’s attitude toward its products and activities. The public’s image of the company affects
its buying behavior.

Question 15

Internal publics:

Answer 15

This group includes workers, managers, volunteers, and the
board of directors. Large companies use newsletters and other means to inform and motivate their internal publics. When employees feel good about the companies they work for, this positive attitude spills over to the external publics.

Question 16

Demography is

Answer 16

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

Question 17

Baby Boomers:

Answer 17

1946-1964
Post WWII
in their 50s and 60s now and retiring
control an estimated 70 percent of the nation’s disposable income.
buys more than 47 percent of all consumer goods.
was the largest segment until Gen Y

Question 18

Generation X

Answer 18

1965-1976
family and aging parents comes first
career comes second
The internet era shaped them drastically
more skeptical bunch
research products first
less materialistic
prize experience
first to grow up in tech era

Question 19

Generation Y AKA Millenials or echo boomers

Answer 19

1977-2000
becoming larger than the baby boomer segment
most financially strapped group
comfortable with digital tech

Question 20

What affected the Baby boomers?

Answer 20

sex, drugs, rock and roll, max out credit cards

50-68

Question 21

when was the depression?

Answer 21

1930-1945

Question 22

What affected the Pre-depression era?

Answer 22

woman’s rights, civil rights, WWII

69-84

Question 23

Generation Z aka Gen Zers

Answer 23

After 2000

kids