Topic 2: Marketing environment

Question 1

Marketing environment

Answer 1

The actors and forces outside marketing
that affect marketing management’s
ability to build and maintain successful
relationships with target customers

Question 2

Microenvironment

Answer 2

The actors close to the company that
affect its ability to serve its customers—
the company, suppliers, marketing intermediaries, customer markets,
competitors, and publics

Question 3

Macroenvironment

Answer 3

The larger societal forces that affect the microenvironment—demographic,
economic, natural, technological, political,
and cultural forces.

Question 4

Marketing intermediaries

Answer 4

Firms that help the company to promote,
sell, and distribute its goods to final
buyers

Question 5

Public

Answer 5

Any group that has an actual or potential
interest in or impact on an organization’s
ability to achieve its objectives

Question 6

types of public

Answer 6

• Financial publics. This group influences the company’s ability to obtain funds. Banks, investment analysts, and stockholders are the major financial publics.
• Media publics. This group carries news, features, editorial opinions, and other content. It includes television stations, newspapers, magazines, and blogs and other social media.
• Government publics. Management must take government developments into account.
  Marketers must often consult the company’s lawyers on issues of product safety, truth in advertising, and other matters.
• Citizen-action publics. A company’s marketing decisions may be questioned by consumer organizations, environmental groups, minority groups, and others. Its public relations department can help it stay in touch with consumer and citizen groups.
• Internal publics. This group includes workers, managers, volunteers, and the board of
  directors. Large companies use newsletters and other means to inform and motivate their internal publics. When employees feel good about the companies they work for,
  this positive attitude spills over to the external publics.
• General public. A company needs to be concerned about the general public’s attitude toward its products and activities. The public’s image of the company affects its buying behavior.
• Local publics. This group includes local community residents and organizations. Large companies usually work to become responsible members of the local communities in which they operate.

Question 7

Demography

Answer 7

The study of human populations in terms
of size, density, location, age, gender, race, occupation, and other statistics.

Question 8

Baby boomers, generation X, Millennials, generation Z

Answer 8

Baby boomers - The 78 million people born during the years following World War II and lasting until 1964.

Generation X - The 49 million people born between 1965 and 1976 in the “birth dearth” following the baby boom.

Millennials (or generation Y) - The 83 million children of the baby boomers born between 1977 and 2000.

Generation Z - People born after 2000 (although many
analysts include people born after 1995)
who make up the kids, tweens, and teens
markets.

Question 9

Economic environment

Answer 9

Economic factors that affect consumer
purchasing power and spending patterns.

Question 10

Natural environment

Answer 10

The physical environment and the natural resources that are needed as inputs
by marketers or that are affected by marketing activities

Question 11

Environmental sustainability

Answer 11

Developing strategies and practices that
create a world economy that the planet can support indefinitely.

Question 12

Technological environment

Answer 12

Forces that create new technologies, creating new product and market opportunities.

Question 13

Political environment

Answer 13

Laws, government agencies, and
pressure groups that influence and limit various organizations and individuals in a given society

Question 14

Cultural environment

Answer 14

Institutions and other forces that affect society’s basic values, perceptions, preferences, and behaviors.