Chapter 4 Flashcards
The Marketing environment
Actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers
Microenvironment
The actors close to the company that affect its ability to serve its customers
Forces with direct impact to the company
Internal forces (company, suppliers…)
External forces (competitors, publics, customers) outside the firms control
Macroenvironment
Larger societal forces that affect the microenvironment
External forces with direct impact across industries.
Actors in the Microenvironment
The Company Suppliers Marketing Intermediaries Competitors Public’s Customers
“The Company”
Corporate culture, leadership, ownership, finance, R&D, purchasing, operations, accounting
Can have great impact on marketing decisions and planning strategies
All departments must work together to provide superior customer value
“Suppliers”
Important link in the overall customer value delivery system
Provides resources needed to produce goods and services
Supply shortages, delays or labour strikes can damage customer satisfaction
Most Marketers treat suppliers like partners in creating and delivering customer value
Marketing Intermediaries
Help the company to promote, sell, and distribute its goods to final buyers
Resellers
Physical distribution firms (help move product)
Marketing service agencies
Financial intermediaries (banks, insurance)
Competitors
A company must provide better customer value and satisfaction than its competitors do
Publics
Any group that has an actual or potential interest in or impact on the organization
Customers
Individual or house holds Business Reseller Government International
The Macroenvironment
Demographic Forces Economic Forces Natural Forces Technological Forces Political Forces Cultural Forces
Demography
Study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics
Strategic decisions often based upon shifts in demographics
Three largest generational groups
Baby boomers
Gen X
Gen Y (millennials)
Baby boomers
Good target for financial services
Gen X
Skeptical of marketing
Experientially driven
