Chapter 3: Environment
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, and editorial opinion. It includes newspapers, magazines, television stations, and blogs and other Internet media.
Government publics: Governmental agencies, regulations and policies. 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.
Local publics: This group includes neighbourhood residents and community organizations. Large companies usually create departments and programs that deal with local community issues and provide community support.
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.
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.
1. Consumer markets consist of individuals and households that buy goods and services for personal consumption.
2. Business markets buy goods and services for further processing or use in their production processes.
3. Reseller markets buy goods and services to resell at a profit.
4. Government markets consist of government agencies that buy goods and services to produce public services or transfer the goods and services to others who need them.
5. International markets consist of these buyers in other countries, including consumers, producers, resellers, and governments.
2. Each generation spans decades of time and many socioeconomic levels. Thus, marketers need to form more precise age-specific segments within each group. Defining people by their birth date may be less effective than segmenting them by their lifestyle, life stage, or the common values they seek in the products they buy.