Week Two Flashcards
Explain the marketing environment!
The Marketing Environment includes the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with customers
It consists of two levels, the micro-environment and the macro-environment
What is the micro-environment?
The micro-environment consists of the actors close to the company that affect its ability to serve its customers
That is the competitors, customers, supliers, intermediaries, publics, and the company itself
CCCPIS
what is the macro-environment?
The macro-environment involves political, economic, natural, technological, cultural, and demographic trends that affect the companies ability
explain the political environment
laws, government agencies, pressure groups that influence or limit various organisations and individuals in a given society
explain the economic environment
consists of factors that affect consumer purchasing power and spending patterns;
prosperity, recession, depression, recovery cycle.
explain the natural environment
natural resources that are needed as inputs by marketers or that are affected by marketing activities
explain the cultural environment
consists of institutions and other forces that affect a society’s basic values, perceptions, and behaviours
what are core values and beliefs in culture?
Core values and beliefs in culture are persistent and are passed on from parents to children and are reinforced by schools, churches, businesses, and government
what are Secondary values and beliefs in culture?
Secondary values and beliefs in culture are more open to change than core values and beliefs. Include peoples views of themselves, others, organisation, society, nature, and the universe.
explain the demographic environment
human populations including size, density, location, age, gender, race, occupation, and other statistics.
what are intermediaries?
Intermediaries help the company to promote, sell and distribute its products to final buyers; they include resellers, physical distribution firms, marketing sevices agencies, and financial intermediaries.
