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Marketing > Marketing Environment > Flashcards

Marketing Environment Flashcards

1
Q

What is included within an Organisations Internal Environment?

A

Finance
Purchasing
Production
R&D
Administration
Potential conflicts
Different goals/objectives

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2
Q

What is included within an Organisations External Environment?

A

Current and potential customers
Competitors
Intermediaries
Suppliers
Public

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3
Q

What are the decisions in the Domestic Market?

A

Target market
Product decisions
Price decisions
Promotion decisions
Distribution decisions

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4
Q

What are the decisions in the Global Market?

A

What market(s) to enter
Level of commitment
How to adapt marketing
Strategies

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5
Q

How does decisions in both the Global and Domestic market affect the Economic Environment of a organisation?

A

Indicators of economic health
Level of economic development
Business cycle

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6
Q

How does decisions in both the Global and Domestic market affect the Political/Legal Environment of a organisation?

A

National laws of commerce
International regulations
Regional agreements
Political stability
Regulatory issues
Human Rights issues

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7
Q

How does decisions in both the Global and Domestic market affect the Socio-Cultural Environment of a organisation?

A

Demographics
Values
Social norms
Ethnocentrism

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8
Q

How does decisions in both the Global and Domestic market affect the Competitive Environment of a organisation?

A

Competition in a microenvironment
Competition in a microenvironment

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9
Q

What is the Political/Legal Environment?

A

Refers to local, state and global laws and regulations that affects the businesses

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10
Q

What are some examples of Political/Legal factors that affect a business?

A

Domestic Government policy
Legislation
Regulation/ De-regulation
Consumer’s association
CAP code

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11
Q

What are the Political and Regulatory constraints on trade?

A

Political actions of a government may constrain businesses
Regulatory constraints on trade often restrict the marketing of goods
Human Rights issues

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12
Q

What is the business cycle?

A

Describes the overall pattern of changes or fluctuations in the economy

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13
Q

What is Prosperity?

A

High levels of demand, employment and income

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14
Q

What is Recession?

A

Falling demand, employment and income

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15
Q

What is Recovery?

A

Improvement in productions, lowering unemployment and increasing income

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16
Q

What is Depression?

A

Severe recession with falling prices and little demand

17
Q

What are the three levels of consumer decision-making?

A

Competition for discretionary income
Product competition
Brand competition

18
Q

What is a Monopoly?

A

One seller controls one market

19
Q

What is a Oligopoly?

A

Relatively small number of sellers

20
Q

What are Monopolistic competition?

A

Many sellers compete for buyers in one market

21
Q

What is Perfect Competition?

A

Many sellers offering the same goods or services with no impact on quality, price or supply

22
Q

What are the levels of Economic Development?

A

Bottom of the pyramid markets
Lesser-developed country
Developing countries
Developed countries

23
Q

What does the Socio-Cultural Environment refer to?

A

The characteristics of society, its people and its cultural values/beliefs

24
Q

What are some examples of factors of Socio-Cultural Environment?

A

Demographics
Cultural values
Social norms
Language
Understanding customers

25
Q

What are some examples of Business ethics that impact the marketing strategy?

A

Profit seeking
Chosen suppliers
Chosen markets
Community service
Labour prices

26
Q

What are some examples of Environmental issues that impact the marketing strategy?

A

Product origins
Product content
Product effects in use
Product disposal

27
Q

What are some examples of Animal welfare that impact the marketing strategy?

A

Product testing
Farming methods

28
Q

What are some examples of Health and Safety that impact the marketing strategy?

A

Ingredients/ components
New product standards
Production methods

29
Q

What are some examples of Personal ethics that impact the marketing strategy?

A

Bribery
Participation in unethical practices

30
Q

What are the two different approaches to the environment?

A

Passive and reactive approach
Proactive approach

31
Q

What is included within a passive and reactive approach to the environment?

A

Environmental forces viewed as uncontrollable
Opportunities approached with caution

32
Q

What is included within a proactive approach to the environment?

A

Environmental forces can be shaped
Develop strategies to overcome environmental forces
Apply economic, psychological and promotional skills

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