Marketing Environment Flashcards
What is the microenvironment in marketing?
Actors directly affecting a company’s ability to serve customers, including suppliers, intermediaries, customer markets, competitors, and publics.
What role do suppliers play in the microenvironment?
They ensure the availability of products.
Who are intermediaries in the marketing microenvironment?
Entities that promote, sell, and distribute products.
What is the significance of customer markets in the microenvironment?
They focus on building strong relationships with customers.
Why are competitors important in the microenvironment?
They help companies gain a competitive advantage.
What are publics in the context of the marketing microenvironment?
Groups that influence company actions, such as media and government.
What does PESTLE stand for in macroenvironment analysis?
Political, Economic, Social, Technological, Legal, and Environmental factors.
What does the demographic factor analyze in the macroenvironment?
Population characteristics such as age, gender, and ethnicity.
How does the economic factor affect the marketing environment?
it assesses factors like income distribution and economic cycles.
What aspects are addressed by the natural factor in macroenvironment analysis?
Resource availability, pollution, and sustainability.
What is the purpose of technological analysis in the macroenvironment?
To consider innovations and their impact on the market.
What are the components of a Marketing Information System (MIS)?
Internal databases, marketing intelligence, and marketing research.
What is the first step in the marketing research process?
Defining the problem and clarifying research objectives.
What types of data are collected in the marketing research process?
Secondary data (previously collected) and primary data (newly gathered).
What is observational research?
A method that involves directly observing behavior.
