Chapter 3 Flashcards

0
Q

Microenviornment

A

Forces close to the company.

Company, suppliers, customers, competitors, publics

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1
Q

Ethical behavior

A

Are written standards of behavior to which everyone in the organization must subscribe.
Unethical behavior can lead to high cost

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2
Q

Macroenviornment

A

Large social forces

Cultural, political, demographic, economic, natural, technological

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3
Q

Consumer markets

A

Includes individuals/families who buy stuff for themselves.

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4
Q

Business markets

A

One company sells its product to another company

Ex-IBM selling to oil companies

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5
Q

Resellers market

A

The company in the middle

Pepsi sells their items to sheetz, then sheetz sells the items to the customers

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6
Q

Government market

A

When you sell stuff to the government

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7
Q

International market

A

Selling overseas

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8
Q

Disposable income

A

The income that is left after paying taxes

Gross income-taxes

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9
Q

Discretionary income

A

Gross income-taxes-necessities

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10
Q

Competitive environment

A

Perfect/pure competition

  • numerous buyers and sellers
  • similar products
  • easy entry level

*not common at all

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11
Q

Oligopoly

A
  • Few sellers in market
  • very powerful and dominating sellers
  • difficult to enter market

*common

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12
Q

Differentiated oligopoly

A

-brands are very different from each other

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13
Q

Undifferentiated oligopoly

A
  • brands are fairly similar

- not big difference in product

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14
Q

Monopolistic competition

A
  • many sellers
  • highly differentiated products

Ex-restraunts

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15
Q

Monopoly

A

One seller in the market

16
Q

Political environment

A
  • consists of laws, govt. agencies and other groups that can influence companies
  • federal trade commission
  • food and drug administration
  • federal communications commission
17
Q

Legal environment

A
  • u.s laws governing business have two purposes:
  • ensure that business compete fairly with each other
  • ensure that businesses don’t take advantage of consumers
18
Q

The company

A

All of groups related to the internal environments of the business like financing, accounting, operations, etc

19
Q

Suppliers

A

Where the company gets it supplies from and how they have benefited or hurt the company

20
Q

Marketing intermediaries

A

Includes resellers that help promote and sell the product

21
Q

Competitors

A

Company must provide greater customer value than competitors

22
Q

Public

A

Any group that is an actual or potential interest in impacting on an organizations ability to achieve its goals

23
Q

Customers

A

Most important factor to company’s organization did

Different types of customer markets

24
Q

Demographic

A

The study of the human population in terms of size,density, location, age, gender, race, occupation etc

25
Q

Economic environment

A

Factors that affect consumer purchasing power and spending patterns

26
Q

Natural environment

A

Anything that happens in the natural world like weather, natural disasters,pollution

27
Q

Technological

A

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

28
Q

The political and social environment

A

Consists of laws, government agencies and pressure groups

29
Q

Cultural

A

Consists of basic values, perceptions, preferences and behaviors

30
Q

Green marketing

A

Protecting and enhancing the natural environment while doing business

31
Q

Cause marketing

A

Profit+nonprofit

Strategy of joining forces with a not for profit organization to tackle social problems such as child abuse, breast cancer etc

32
Q

Environmental management perspective

A

Reactive - wait and then react

Proacive- forecast and act ahead of time— the more preferred way