Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Marketing > The Global Marketing Environment > Flashcards

The Global Marketing Environment Flashcards

1
Q

What is the marketing environment

A

Outside forces that effect marketing managements ability to build and Maintain successful relationships with target customers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

How many parts is the marketing environment made up of

A

3

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What are the 3 parts of the marketing environment

A

1 internal environment - the business itself (owners managers employees)
2 layers of external environment -
Microenvironment
Macro environment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What is the micro environment

A

Actors close to the company that affect its ability to serve its customers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What is the macro environment

A

Larger societal forces that affect the microenvironment

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Factors of micro environments

A

Customers
Competitors
Suppliers
Intermediaries

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Factors of macro environment

A 
Government 
Economy 
Technology 
Environment 
Globalisation 
Demographics 
Laws 
Sociocultural trends
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What does Armstrong and Kotlers (2015) analysis method consist of

A 
Demographic 
Economic
Natural
Technological 
Regulatory
Cultural
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Why is pickton & Brodericks PRESTCOM analysis so useful

A

It looks at the external macro environment and takes into consideration some micro factors as well by looking at things such as competition, market and organisation
Looks internal and external

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What is the purpose of the 3 additional C’s of PRESTCOM

A

gives an international dimension

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What does the political aspect of PRESTCOM explore

A 
Activities of:
Government 
Special interest, lobbying and pressure groups 
Trade unions 
Political parties
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What does the regulatory aspect of PRESTCOM explore

A

Laws (criminal and civil)
Codes of practice (eg advertising standards code)
Customary practice

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What does the economic aspect of PRESTCOM explore

A 
Key economic indicators such as 
Employment levels - disposable income 
Interest rates
Taxes 
Budget deficit
Balance of payments
Inflation
Trade cycle movements
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What does the trade cycle do

A

Shows how economic growth can fluctuate within different phases in terms of upturns and downturns related to total GDP growth

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What does the social aspect of PRESTCOM explore

A

Population fluctuations
Demographic trends eg more older people
Attitude changes eg shifting concepts of gender
Patterns of behaviour eg working mums / stay at home dads

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What does the technological aspect of PRESTCOM explore

A

Advanced in the technological environment
IT eg latest processors storage decides and software
Communications technology eg superfast broadband
Transport technologies eg electric cars
Production technology
Medical technology

17
Q

What does the competitive aspect of PRESTCOM explore

A

Direct competition, secondary completion and indirect competition that are internal influencers on a company.

18
Q

Direct competitor example

A

McDonald’s vs Burger King

19
Q

Secondary competitor example

A

Skype vs business class travel

20
Q

Indirect competitors example

A

Different jobs with a conflicting outcome

Eg Maccies and weight watchers

21
Q

What does the organisational aspect of PRESTCOM explore

A 
Internal factors that influence the business eg 
People
Reputation 
Intellectual propert 
Market research 
Ethos
Financed
Agility 
Collaborators 
Talents
22
Q

What is the framework for analysing internal aspect of an organisation

A

PRIMEFACT

People
Reputation
Intellectual property
Market research
Ethos 
Finances 
Agility 
Collaborators 
Talents
23
Q

What does the market aspect of PRESTCOM explore

A

Who our customers may be :
Individuals (b2c)
Organisations (b2b)

24
Q

What do we need to identify in the market aspect of PRESTCOM

A

Changes in tastes and fashion
Changes in purchasing behaviour
Changes in product usage

25
Q

What are the further C’s we need to consider for the international environment

A

Country eg history and geography and relationships between nations

Currency eg stability

Culture (and subcultures)

26
Q

Why did pickton and Broderick (2001) develop PRESTCOM

A

To overcome limitations of PEST or PESTEL analysis which only looks at the macro environment

27
Q

What does an upturn look like in the trade cycle

A

Rising consumer and business confidence
Rising sales
Rising prices
More jobs

28
Q

What does a downturn look like in the trade cycle

A

Falling consumer and business confidence
Falling sales
Falling prices
Fewer jobs

Marketing (7 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions