Chapter 3 Flashcards
Microenvironment
The actors close the company that affects its ability to serve customers – the company, suppliers, marketing intermediaries, customer markets, competitors, and publics
Macroenvironment
The larger societal factors that affect the microenvironment – demographic, economic, natural, technological, political, and cultural forces
The microenvironment
Company
Suppliers
Marketing intermediaries
Competitors
Publics
Customers
The company
Internal environment is formed by all the different departments –
marketing, top management, R&D…
Top management sets broad goals to be interpreted and implemented
by departments through coordination
Suppliers
Instable supply chains or suppliers may lead to short-term loss of sales,
therefore marketing needs to manage this closely
Marketing intermediaries
Firms that help the company to promote,
sell, and distribute its goods to final buyers
Marketing intermediaries include
Resellers
Physical distribution firms Marketing services agencies Financial intermediaries
Competitors
A company must provide more value to its customers than its
competitors
Public
Any group that has an actual or potential interest in or impact
on an organisation’s ability to achieve its objectives
SEVEN types of publics
Financial publics
Media publics
Government publics
Citizen-action publics
Internal publics
General public
Local publics
Financial publics
Influences a company’s ability to obtain funds. Banks, investment analysts, and stockholders are the major financial publics
Media publics
Carriers of news, features, editorial opinions, and other content, any form of social media
Government publics
Laws, regulations, taxes
Citizen-action publics
Consumer organisations, environmental groups, minority groups, public relations
Internal publics
Workers, managers, volunteers, the board of directors
General public
Attitude of the general public towards the company is important
Local publics
Local community residents and organisations
Types of customer markets
Individuals and households who buy goods and services for personal consumption
Business markets
Buyers who buy goods and services for further processing or use in their production processes
Reseller markets
Buyers who buy goods to resell at a profit
Government markets
Government agencies that buy goods and services to produce public services or transfer goods and services to others who need them
International markets
Buyers in other countries, including consumers, producers, resellers, and governments
SIX major macroenvironment forces
Demographic
Economic
Natural
Technological
Political
Cultural
Macroenvironment
External influences can provide both opportunities and threats to companies operating within an environment
