Chapter 3, Marketing, An Introduction; Armstrong and Kotler, 12th edition

Marketing environment
The actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers
The actors close to the company that affect its ability to serve its customers–the company, suppliers, marketing intermediaries, customer markets, competitors, and publics
The larger societal forces that affect the microenvironment–demographic, economic, natural, and cultural forces
Marketing intermediaries
Firms that help the company to promote, sell, and distribute its goods to final buyers
-resellers; physical distribution firms; marketing service agencies; financial intermediaries
Any group that has an actual of potential interest in or impact on an organization’s ability to achieve its objectives
The study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics
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 1964 and 1976 in the “birth death” 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
Economic environment
Economic factors that affect consumer purchasing power and spending patterns
Natural environment
The physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities
Environmental sustainability
Developing strategies and practices that create a world economy that the planet can support indefinitely
Technological environment
Forces that create new technologies, creating new products and market opportunities
Political environment
Laws, government agencies, and pressure groups that influence and limit various organisations and individuals in a given society
Cultural environment
Institutions and other forces that affect society’s basic values, perceptions, preferences, and behaviors
high market growth and high market share
need heavy investments to finance their rapid growth
Cash Cows
low market growth and high market share
need less investment to hold their market share
Question Marks
high market growth and low market share
require a lot of cash to hold their market share, let alone increase it
low market growth and low market share
do not promise to be large sources of cash
Marketing Mix
product; price; place; promotion
4 C’s
customer solution; customer cost; convenience; communication
Core beliefs and values
passed on from parents to children
reinforced by schools, churches, business, and government
Secondary Beliefs and Values
more open to change than core beliefs

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