Chapter 2 Flashcards
The marketing environment
includes the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers.
macroenvironment
consists of 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 are the actors in the macroenvironment
suppliers marketing intermediaries competitors publics customers
What are the types of marketing intermediaries
resellers
physical distribution firms
marketing services agencies
financial intermediaries
Demography
the study of human populations—size, density, location, age, gender, race, occupation and other statistics.
Demographic environment
involves people, and people make up markets.
demographic trends
Changing age and family structures
Geographic population shifts
Educational characteristics
Population diversity
Generational marketing
is important in segmenting people by lifestyle of life state instead of age.
Economic environment
consists of factors that affect consumer purchasing power and spending patterns.
Industrial economies are richer markets.
Subsistence economies consume most of their own agricultural and industrial output.
Value marketing
offering financially cautious buyers greater value—the right combination of quality and service at a fair price.
Natural environment
natural resources that are needed as inputs by marketers or that are affected by marketing activities.
Natural environment trends
Increased shortages of raw materials
Increased pollution
Increased government intervention
Increased environmentally sustainable strategies.
Political environment
consists of laws, government agencies and pressure groups that influence or limit various organisations and individuals in a given society.
Cultural environment
consists of institutions and other forces that affect society’s basic values, perceptions preference and behaviour.
Core beliefs and values
are persistent and are passed on from parents to children and are reinforced by schools, churches, businesses and government.
