Chapter 3: marketing environment Flashcards
marketing environment
the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers
Microenvironment
actors close to the company that affect its ability to serve its customers
What are the main actors in the microenvironment
company, suppliers, marketing intermediaries, competitors, publics and customers
macroenvironment
large societal forces that affect the actors in the microenvironment
demography
the study of human populations in terms of size, density, location, age, gender, race, occupation and other statistics
baby boomers
those born between 1946 and 1964. This is the wealthiest generation in US history and is digitally active and increasingly social media savvy
Generation x
Born between 1965 and 1976. They are sensible shoppers who research products before they consider to purchase and prefer quality over quantity
Millenials
between 1977 and 2000. They are comfortable with digital technology and engage with brands in a new way
Generation z
people born after 2000, forming new brand relationships that will affect their buying well into the future. They do product research before buying a product
generational marketing
some experts warn that marketers need to be careful about turning off one generation each time they craft a product or message that appeals effectively to another
the changing American family
marketing must consider the special needs of nontraditional households because they are now growing more rapidly than traditional households
geographic shifts in population
period of great migratory movement between and within countries
economic environment
economic factors that affect consumer purchasing power and spending patterns. Marketers should pay attention to income distribution and income levels
natural environment
the physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities
environmental sustainability
developing strategies and practices that create a world economy that the planet can support indefinitely
technological environment
forces that create new technologies, creating new product and market opportunities
political environment
laws, government agencies, and pressure groups that influence and limit various organizations and individuals in a given society
socially responsible behaviour
enlightened companies encourage their managers to look beyond what the regulatory system allows and simply “do the right thing”
cause related marketing
companies are linking themselves to worthwhile causes
the cultural environment
institutions and other forces that affect a society’s basic values, perceptions, preferences and behaviors. People grow in a particular society that shapes their basic beliefs and values
the persistence of cultural values
people hold beliefs and values and these shape more specific attitudes and behaviors found in everyday lives
peoples view of themselves
people vary in their emphasis on serving themselves versus serving others. some seek personal pleasure and others self realization
peoples views of others
peoples attitudes towards and interactions with others shift over time
peoples views of organizations
people vary in their attitudes toward corporations, government agencies, trade unions, universities and other organizations
