Kotler|Armstrong Principles of Marketing Chapter 3 Vocabulary

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 micorenvironment – demographic, economic, natural, technological, political and cultural forces.
marketing intermediaries
Firms that help the company to promote, sell and distribute its goods to final buyers. They include resellers, physical distribution firms, marketing service agencies and financial intermediaries.
Any group that has an actual or potential interest in or impact on an organisation’s ability to achieve its objectives.
The study of human population in terms of size, density, location, age, gender, race, occupation and other statistics.
economic environment
Factors that affect consumer buying power and spending patterns.
natural environment
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 product 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 behaviour.
Baby boomers
The 78 million people born during years
following World War II and lasting
until 1964.
Generation X
The 45 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.

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