Principles of Marketing- Kotler and Armstrong 16e Ch. 3

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Marketing Environment
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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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Microenvironment
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consists of the actors close to the company that affects its ability to serve it customers – the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.
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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.
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promote, sell, and distribute
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Marketing intermediaries are firms that help the company to _____, _____, and ______its goods to final buyers.
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The Microenvironment and The Macroenvironment
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the environmental forces that affect the company’s ability to serve its customers.
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positioning
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Firms must gain strategic advantage by ______ their offerings strongly against competitors’ offerings in the minds of consumers.
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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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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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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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Demographic environment
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_________ involves people, and people make up markets
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Demographic trends
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______include changing age and family structures, geographic population shifts, educational characteristics, and population diversity.
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Baby Boomers
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The 78 million people born during the years following WWII and lasting until 1964. (born 1946 to 1964) Mom
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Generation X
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The 49 million people born between 1965 and 1976 in the “birth dearth” following the baby boom. (born between 1965 and 1976) G
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Millenials (Generation Y)
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The 83 million children of the baby boomers born between 1977 and 2000. (born between 1977 and 2000) Me
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Generation Z
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born after 2000 ..Kids
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Generational marketing
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_________Generational marketing is important in segmenting people by lifestyle or life stage instead of age.
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Economic Environment
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Economic factors that affect consumer purchasing power and spending patterns.
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Value marketing
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________involves offering financially cautious buyers greater value—the right combination of quality and service at a fair price.
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Natural Environment
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The physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities.
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Environmental Sustainability
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Developing strategies and practices that create a world economy that the planet can support indefinitely.
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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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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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Cultural Environment
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Institutions and other forces that affect society’s basic values, perceptions, preferences, and behaviors.
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Core beliefs and values
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are persistent and are passed on from parents to children and are reinforced by schools, churches, businesses, and government.
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Secondary beliefs and values
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______are more open to change and include people’s views of themselves, others, organizations, society, nature, and the universe.

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