Chapter 3 Microenvironment

Question 1

Studying the environment allows marketers to (3)

Answer 1

• Understand the constraints they operate under
• Learn of opportunities
• Reveal threats to avoid or combat

Question 2

6 actors in the microenvironment

Answer 2

The company
Suppliers
Marketing intermediaries 
Competitors
Publics
Customers

Question 3

Marketers must work in harmony with other company departments to create customer value and relationships (what actor in microenvironment is this??)

Answer 3

The company

Question 4

All departments must cooperate inter-functionally to provide superior customer value and satisfaction (what actor in microenvironment??)

Answer 4

The company

Question 5

This actor in the microenvironment is “think consumer”

Answer 5

The company

Question 6

Provide resources needed for production and innovation

Answer 6

Suppliers

Question 7

Help the company promote, sell, and distribute the products to end users

Answer 7

Intermediaries

Question 8

People who make the plastic for tide pods are

Answer 8

Suppliers

Question 9

Apple partnering with Nike to sell shoes or Apple watches is an example of an

Answer 9

Intermediary

Question 10

4 types of intermediaries

Answer 10

Resellers
Physical distribution firms
Marketing services agencies
Financial intermediaries

Question 11

Selling a finished product is

Answer 11

Reselling

Question 12

Help the company stock and move goods from their points of origin to their destination

Answer 12

Physical distribution firms

Question 13

Help the company target and promote its products to the right markets (ex/person who designs a menu board)

Answer 13

Marketing services agencies

Question 14

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

Answer 14

Financial intermediaries

Question 15

Who might the customer choose instead or who provides reasonable substitutes to customers refers to (trying to offer superior value and satisfaction)

Answer 15

Competitors

Question 16

What differentiates you from your competition is called

Answer 16

Competitive advantage

Point of difference

Question 17

The law of color states

Answer 17

A brand should use a color that is opposite of its major competitors

Question 18

7 types of publics

Answer 18

Financial 
Media
Government 
Citizen-action 
Local 
General 
Internal

Question 19

This group influences the company’s ability to obtain funds

Answer 19

Financial publics

Question 20

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

Answer 20

Media publics

Question 21

Management must take government developments into account

Answer 21

Government publics

Question 22

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

Answer 22

Citizen-action publics

Question 23

This group includes neighborhood residents and community organizations

Answer 23

Local publics

Question 24

A company needs to be concerned about the General publics attitude toward its products and activities

Answer 24

General public

Question 25

This group includes workers, managers, volunteers and the board of directors

Answer 25

Internal publics

Question 26

Who buys our products refers to

Answer 26

Customers

Question 27

Five basic types of buyers

Answer 27

Consumer
Businesses 
Resellers 
Government and non-profits 
International markets

Question 28

Consist of individuals and households that buy goods and services for personal consumption

Answer 28

Consumer markets

Question 29

Buy goods and services for further processing or use in their production processes

Answer 29

Business markets

Question 30

Buy goods and services to resell at a profit

Answer 30

Resellers markets

Question 31

Consist of government agencies that buy goods and services to produce public services or transfer the goods and services to other who need them

Answer 31

Government markets

Question 32

Buyers in other countries

Answer 32

International markets