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Introduction To Marketing > Chapter 2: Marketing Environment > Flashcards

Chapter 2: Marketing Environment Flashcards

1
Q

Marketing Environment (Kotler)

A

The actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers (everything OUTSIDE the marketing department is the marketing environment)

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2
Q

Marketing environment consists of:

A
  • Microenvironment
  • Mesoenvironment
  • Macroenvironment
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3
Q

In what part of the SWOT analysis can we find things related to the microenvironment?

A
  • Strengths
  • Weaknesses
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4
Q

In what part of the SWOT analysis can we find things related to the mesoenvironment?

A
  • Opportunities
  • Threats
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5
Q

In what part of the SWOT analysis can we find things related to the macroenvironment?

A
  • Opportunities
  • Threats
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6
Q

Microenvironment

A

Actors within the company that can be controlled or influenced by the company directly

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7
Q

Mesoenvironment

A

Actors close to the company that can affect its ability to serve its customers

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8
Q

Actors in mesoenvironment

A
  • Suppliers
  • Marketing intermediaries
  • Competitors
  • Publics
  • Customers
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9
Q

Suppliers role in mesoenvironment

A

Marketers must partner with other firms in the company’s value delivery network

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10
Q

Marketing intermediaries role in mesoenvironment

A

Firms that can help promote, sell and distribute its products to final buyers

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11
Q

Examples of marketing intermediaries in mesoenvironment

A
  • Resellers
  • Physical distribution firms
  • Marketing service agencies
  • Financial intermediaries
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12
Q

Resellers

A

Distribution channel firms that help company find customers or make sales

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13
Q

Physical distribution firms

A

Firms that stock and move goods from their point of origin to their destinations

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14
Q

Marketing service agencies

A

Firms that help the company target and promote its products to the right markets

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15
Q

Financial intermediaries

A

Businesses that help finance transactions or insure against the risks associated with the buying and selling of goods

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16
Q

Competitors role in mesoenvironment

A

Gain strategic advantage by positioning their offerings strongly against the competitors’ offerings in the mind of the consumers

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17
Q

Publics role in mesoenvironment

A

Any group that has an actual or potential interest in/impact on an organization’s ability to achieve its objectives

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18
Q

Different type of publics in mesoenvironment

A
  • Financial publics
  • Media publics
  • Government publics
  • Citizen-action publics
  • Internal publics
  • General publis
  • Local publics
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19
Q

Financial publics role in mesoenvironment

A

This group influences the company’s ability to obtain funds

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20
Q

Example of financial publics

A
  • Banks
  • Investment analysts
  • Stockholders
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21
Q

Media publics role in mesoenvironment

A

This group carries news, features, editorial opinions & other content

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22
Q

Example of media publics

A
  • Television stations
  • Newspapers
  • Magazines
  • Blogs
  • Social media
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23
Q

Government publics role in mesoenvironment

A

Management must take government developments into account & consult company’s lawyers on issues of product safety, truth in advertising and other matters

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24
Q

Citizen-action publics role in mesoenvironment

A

A company’s marketing decisions may be questioned by consumer organisations, environmental groups, minority groups and others

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25
Internal publics role in mesoenvironment
This group includes workers, managers, volunteers and the board of directors. Large companies use newsletters and other means to inform & motivate their internal publics
26
General publics role in mesoenvironment
A company needs to be concerned about the general public’s attitude towards its products and activities
27
Local publics role in mesoenvironment
This group includes local community residents and organisations. Large companies usually work to become responsible members of the local communities in which they operate
28
Customers role in mesoenvironment
Aim of the entire value delivery system is to serve target customers and create strong relationships with them
29
Which actor is most import within the mesoenvironment?
Customers
30
Porter’s 5 forces
A model that identifies and analyses five competitive forces that shape every industry and helps determine an industry’s weaknesses and strengths
31
Name Porter’s 5 forces
1) Competition in the industry 2) Potential of new entrants into the industry 3) Power of suppliers 4) Power of customers 5) Threat of substitute products
32
Macroenvironment
The larger societal forces that affect the microenvironment
33
6 forces of macroenvironment
- Demographic environment - Economic environment - Natural environment - Technological environment - Political & Social environment - Cultural environment
34
Between what years consist the silent generation
1928-1945
35
Between what years consist the baby boomers
1946-1964
36
Between what years consist the generation X
1965-1976
37
Between what years consist the generation Y
1977-2000
38
Between what years consist the generation Z
2001 - present
39
Factors of demographic environment
- World population growth - Changing age structure - Generational differences - Geographic shifts - Changing family structure
40
Factors of economic environment
- Changes in consumer spending - Changes in income distribution - Changing world order (BRIC countries)
41
Technological environment
Forces that create new technologies, creating new product and market opportunities
42
Political and social environment
Consists of laws, government agencies and pressure groups that influence or limit various organisations and individuals in a given society
43
Factors of political and social environment
- Legislation - Influence - Social responsibility - Cause-related marketing
44
Cultural environment
Instructions and other forces that affect society’s basic values, perceptions, preference and behaviour
45
Factors of cultural environment
- Cultural values - Secondary values (Views on people & entities)
46
Natural environment
The natural resources that are needed as inputs by marketers or that are affected by marketing activities
47
Factors of natural environment
- Raw materials - Pollution - Intervention - Energy problems
48
Ecological marketing
Marketing activities which reduce & prevent environmental problems that include energy & natural resource consumption reduction
49
Consumer-oriented marketing
A marketing principle based on organising & viewing marketing activities from the perspective of the consumer
50
Customer-value marketing
A marketing principle by which a company puts most of its resources into customer-value-building investments
51
Innovative marketing
A marketing principle by which a company continually seeks real product and marketing improvements
52
Sense-of-mission marketing
A marketing principle by which a company makes profits while making a difference in the world at the same time
53
Salutary products
A product with high long-run consumer benefit & low immediate satisfaction
54
Desirable products
A product with high long-run consumer benefit & high immediate satisfaction
55
Deficient products
A product with low long-run consumer benefit & low immediate satisfaction
56
Pleasing products
A product with low long-run consumer benefit & high immediate satisfaction
57
A product with high long-run consumer benefit & low immediate satisfaction
Salutary products
58
A product with high long-run consumer benefit & high immediate satisfaction
Desirable products
59
A product with low long-run consumer benefit & low immediate satisfaction
Deficient
60
A product with low long-run consumer benefit & high immediate satisfaction
Pleasing products
61
3 P’s of societal marketing
- People: Stakeholders in- and outside of the company (CSR) - Profit: Generation of continuous business earnings, ROI, no corruption - Planet: Environmental protection, energy use, pollution
62
Principles of sustainable marketing
- Consumer-oriented marketing - Customer-value marketing - Innovative marketing - Sense-of-mission marketing - Societal marketing

Introduction To Marketing (3 decks)

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