Kotler, Armstrong, Principles of Marketing, 11th ed, ch 3 – Flashcards
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Baby boomers
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The 78 million people born during the baby boom following World War II and lasting until the early 1960s. (1946-64)
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Cultural environment
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Institutions and other forces that affect society's basic values, perceptions, preferences, and behaviors.
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Demography
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The study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics.
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Economic environment
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Factors that affect consumer buying power and spending patterns.
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Generation X
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The 45 million people born between 1965 and 1976 in the "birth dearth" following the baby boom. -less materialistic -they think before buying
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Generation Y
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Also known as millennials. The 83 million children of the baby boomers, born between 1977 and 2000. -technology is way of life
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Macroenvironment
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The larger societal forces that affect the microenvironment—demographic, economic, natural, technological, political, and cultural forces.
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Marketing environment
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External forces outside of marketing. The actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers.
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Marketing intermediaries
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Firms that help the company to promote, sell, and distribute its goods to final buyers; they include resellers (walmart, target, costco), physical distribution firms, marketing service agencies, and financial intermediaries.
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Microenvironment
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The actors close to the company that affect its ability to serve its customers—the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.
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Natural environment
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Natural resources that are needed as inputs by marketers or that are affected by marketing activities.
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Political environment
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Laws, government agencies, and pressure groups that influence and limit various organizations and individuals in a given society.
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Public
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Any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives.
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Technological environment
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Forces that create new technologies, creating new product and market opportunities.
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Types of customer markets
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Consumer, Business, Reseller, Government, International
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Types of economies
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industrial, developing, and subsistence
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Environmental Trends
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-growing shortages of raw materials -increased pollution -increased government intervention
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three changes in the political environment
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-increase in legislation regulating business -strong government agency enforcement -greater emphasis on ethics and socially responsible actions
