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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
Q

Internal publics role in mesoenvironment

A

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
Q

General publics role in mesoenvironment

A

A company needs to be concerned about the general public’s attitude towards its products and activities

27
Q

Local publics role in mesoenvironment

A

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
Q

Customers role in mesoenvironment

A

Aim of the entire value delivery system is to serve target customers and create strong relationships with them

29
Q

Which actor is most import within the mesoenvironment?

30
Q

Porter’s 5 forces

A

A model that identifies and analyses five competitive forces that shape every industry and helps determine an industry’s weaknesses and strengths

31
Q

Name Porter’s 5 forces

A

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
Q

Macroenvironment

A

The larger societal forces that affect the microenvironment

33
Q

6 forces of macroenvironment

A
  • Demographic environment
  • Economic environment
  • Natural environment
  • Technological environment
  • Political & Social environment
  • Cultural environment
34
Q

Between what years consist the silent generation

35
Q

Between what years consist the baby boomers

36
Q

Between what years consist the generation X

37
Q

Between what years consist the generation Y

38
Q

Between what years consist the generation Z

A

2001 - present

39
Q

Factors of demographic environment

A
  • World population growth
  • Changing age structure
  • Generational differences
  • Geographic shifts
  • Changing family structure
40
Q

Factors of economic environment

A
  • Changes in consumer spending
  • Changes in income distribution
  • Changing world order (BRIC countries)
41
Q

Technological environment

A

Forces that create new technologies, creating new product and market opportunities

42
Q

Political and social environment

A

Consists of laws, government agencies and pressure groups that influence or limit various organisations and individuals in a given society

43
Q

Factors of political and social environment

A
  • Legislation
  • Influence
  • Social responsibility
  • Cause-related marketing
44
Q

Cultural environment

A

Instructions and other forces that affect society’s basic values, perceptions, preference and behaviour

45
Q

Factors of cultural environment

A
  • Cultural values
  • Secondary values (Views on people & entities)
46
Q

Natural environment

A

The natural resources that are needed as inputs by marketers or that are affected by marketing activities

47
Q

Factors of natural environment

A
  • Raw materials
  • Pollution
  • Intervention
  • Energy problems
48
Q

Ecological marketing

A

Marketing activities which reduce & prevent environmental problems that include energy & natural resource consumption reduction

49
Q

Consumer-oriented marketing

A

A marketing principle based on organising & viewing marketing activities from the perspective of the consumer

50
Q

Customer-value marketing

A

A marketing principle by which a company puts most of its resources into customer-value-building investments

51
Q

Innovative marketing

A

A marketing principle by which a company continually seeks real product and marketing improvements

52
Q

Sense-of-mission marketing

A

A marketing principle by which a company makes profits while making a difference in the world at the same time

53
Q

Salutary products

A

A product with high long-run consumer benefit & low immediate satisfaction

54
Q

Desirable products

A

A product with high long-run consumer benefit & high immediate satisfaction

55
Q

Deficient products

A

A product with low long-run consumer benefit & low immediate satisfaction

56
Q

Pleasing products

A

A product with low long-run consumer benefit & high immediate satisfaction

57
Q

A product with high long-run consumer benefit & low immediate satisfaction

A

Salutary products

58
Q

A product with high long-run consumer benefit & high immediate satisfaction

A

Desirable products

59
Q

A product with low long-run consumer benefit & low immediate satisfaction

60
Q

A product with low long-run consumer benefit & high immediate satisfaction

A

Pleasing products

61
Q

3 P’s of societal marketing

A
  • 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
Q

Principles of sustainable marketing

A
  • Consumer-oriented marketing
  • Customer-value marketing
  • Innovative marketing
  • Sense-of-mission marketing
  • Societal marketing

Introduction To Marketing (3 decks)

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