Chapter 2 Flashcards
It is the various external forces that can directly or indirectly affect the many activities of an organization.
includes the actors and forces outside marketing, that affect marketing management’s
ability to build and maintain successful relationship with customers.
Marketing Environment
The marketing environment includes forces such as:
Political,
Legal,
Regulatory,
Economic,
Social,
Technological,
Competitive
consists of actors and forces close to the company that can affect its ability to serve its
customers.
Microenvironment
The players in microenvironment include:
Company,
Suppliers,
Market Intermediaries,
Customers,
Publics
Marketing managers work closely with top management and the various company
departments.
The Company
They are part of the microenvironment and must be monitored closely.
Competitors
Firms and individuals that provide the resources needed by the company to produce its goods
and services.
Suppliers
Firms that help the company promote, sell, and distribute its goods to the final buyers.
Marketing Intermediaries
The elimination of intermediaries.
Disintermediation
Marketing research firms, advertising agencies, media firms, and marketing consulting firms help companies to target and promote their products to the right market
Marketing Service Agencies
Include banks, credit companies, insurance companies, and other firms that help hospitality companies to finance their transaction or insure risks associated with the buying and selling of goods and services.
Financial Intermediaries
Managers must understand the different types of customers: consumers, business markets,
government markets, resellers, and international markets.
Customers
is any group that has an actual or potential interest in or impact on an organization’s ability to achieve its objectives.
Public
consists of the larger societal forces that affect the whole microenvironment:
demographic, economic, natural, technological, political, competitor, and cultural forces.
Macroenvironment
Each firm must consider its size and industry position in relation to its competitors.
A company must satisfy the needs and wants of consumers better than its competitors do to survive.
Competitive Environment
