question

marketing environment

answer

actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers, consists of microenvironment and macro environment

question

microenvironment

answer

actors close to the company that affect its ability to serve its customers- the company, suppliers, marketing intermediaries, customer markets, competitors and publics

question

macroenvironment

answer

larger societal forces that affect the microenvironment-demographic, economic, natural, technological, political, and cultural forces

question

the company and microenvironment

answer

all interrelated groups form the internal environment, top management set mission, objectives, broad strategy, marketing managers make decisions w/in these broader strategies and plans

question

marketing intermediaries

answer

firms that help the company to promote, sell and distribute its goods to final buyers- resellers, physical distribution firms, marketing service agencies, financial intermediaries

question

resellers

answer

distribution channel firms that help the company find customers or make sales to them, include wholesalers and retailers that buy and resell merchandise

question

physical distribution firms

answer

help the company stock and move goods from their points of origin to their destinations

question

marketing service agencies

answer

marketing research firms, advertising agencies, media firms and marketing consulting firms that help the company target and promote its products to the right markets

question

financial intermediaries

answer

banks, credit companies, insurance companies, other businesses that help finance transactions or insure against the risks associated with the buying and selling of goods

question

public

answer

any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives

question

financial public

answer

influences the company's ability to obtain funds, banks, investment analysts, stockholders

question

media publics

answer

carries news, features, editorial opinions and other content, includes tv stations, newspapers, magazines, blogs

question

government publics

answer

management must take government developments into account. marketers must often consult the company's lawyers on issues of product safety, truth in advertising and other matters

question

citizen-action publics

answer

company's marketing decisions may be questioned by consumer organizations, environmental groups, minority groups and others. its public relations department can help stay in touch with consumer and citizen groups

question

local publics

answer

includes neighborhood residents and community organizations

question

general public

answer

company needs to be concerned about the general public's attitude toward its product and activities, public's image of the company affect its buying behavior

question

internal publics

answer

includes workers, managers, volunteers and the board of directors, large companies use newsletters, etc to inform and motivate their public, when employees feel good about the companies they work for, this positive attitude spills over to the external publics

question

consumer markets

answer

consist of individual and households that buy goods and services for personal consumption

question

business markets

answer

buy goods and services for further processing or use in their production process

question

reseller markets

answer

buy goods and services to resell at a profit

question

government markets

answer

government agencies that buy goods and services to produce public services or transfer the goods and services to others who need them

question

international markets

answer

consist of these buyers in other countries, including consumers, producers, resellers, governments

question

5 types of customer markets

answer

consumer, business, reseller, government, international

question

demography

answer

study of human populations in terms of size density, location, age, gender, race, occupation and other statistics

question

baby boomers

answer

78 million people born during the years following world war 2 and lasting until 1964, are now spending more carefully, still the wealthiest generation, have the most disposable income, zoomers- more active boomers

question

generation x

answer

49 million people born between 1965 and 1976 in the "birth dearth" following the baby boom, less materialistic, prize experience not acquisition, family comes first, face more economic pressures

question

millennials or generation Y

answer

83 million children of the baby boomers born between 1977 and 2000, most financial strapped generation, facing high unemployment and debt, very comfortable with digital technology

question

generation z

answer

kids born after 2000, who make up the tweens, teens and kids markets, influence a lot of their parents spending money, even more comfortable with technology, blend online and offline seamlessly

question

economic environment

answer

economic factors that affect consumer purchasing power and spending patterns

question

industrial economies

answer

rich markets for many different kinds of goods

question

subsistence economies

answer

consumer most of their own agricultural and industrial output and offer few market opportunities

question

developing economies

answer

offer outstanding marketing opportunities for the right kinds of products

question

natural environment

answer

the physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities

question

trends in the natural environment

answer

1. growing shortage of raw materials 2. increased pollution 3. increased government intervention in natural resource management

question

environmental sustainability

answer

developing strategies and practices that create a world economy that the planet can support indefinitely

question

technological environment

answer

forces that create new technologies, creating new product and market opportunities

question

political environment

answer

laws, government agencies and pressure groups that influence and limit various organizations and individuals in a given society

question

sherman antitrust act (1890)

answer

prohibits monopolies and activities (price fixing, predatory pricing) that restrain trade or competition in interstate commerce

question

clayton act (1914)

answer

supplements the Sherman Act by prohibiting certain types of price discrimination, exclusive dealing and tying clauses (which require a dealer to take additional products in a seller's line)

question

Robinson-Patman Act (1936)

answer

amends the clayton act to define price discrimination as unlawful. Empowers the FTC to establish limits on quantity discounts, forbid some brokerage allowances, and prohibit promotional allowances except when made available on proportionately equal terms

question

3 reasons business legislation is enacted

answer

1. protect companies 2. protect consumers 3. protect the interest of society

question

cause-related marketing

answer

companies link themselves to worthwhile causes- ex: glasses company Warby Parker

question

cultural environment

answer

institutions and other forces that affect society's basic values, perceptions, preferences and behaviors

question

core beliefs

answer

passed on from parents to children and are reinforced by schools, businesses, religious institutions and government

question

secondary beliefs

answer

more open to change

question

demographic environment

answer

1. traditional households in decline 2. geographic shifts in population- telecommute, micropolitan 3. beter educated 4. increasing white collar 5.increased diversity

Marketing chapter 3: Analyzing the Marketing Environment – Flashcards

Unlock all answers in this set

Haven't found what you were looking for?

Search for samples, answers to your questions and flashcards