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Flashcards in Chapter 3 Deck (33):
0

Ethical behavior

Are written standards of behavior to which everyone in the organization must subscribe.
Unethical behavior can lead to high cost

1

Microenviornment

Forces close to the company.
Company, suppliers, customers, competitors, publics

2

Macroenviornment

Large social forces
Cultural, political, demographic, economic, natural, technological

3

Consumer markets

Includes individuals/families who buy stuff for themselves.

4

Business markets

One company sells its product to another company

Ex-IBM selling to oil companies

5

Resellers market

The company in the middle

Pepsi sells their items to sheetz, then sheetz sells the items to the customers

6

Government market

When you sell stuff to the government

7

International market

Selling overseas

8

Disposable income

The income that is left after paying taxes

Gross income-taxes

9

Discretionary income

Gross income-taxes-necessities

10

Competitive environment

Perfect/pure competition
-numerous buyers and sellers
-similar products
-easy entry level

*not common at all

11

Oligopoly

-Few sellers in market
-very powerful and dominating sellers
-difficult to enter market

*common

12

Differentiated oligopoly

-brands are very different from each other

13

Undifferentiated oligopoly

-brands are fairly similar
-not big difference in product

14

Monopolistic competition

-many sellers
-highly differentiated products

Ex-restraunts

15

Monopoly

One seller in the market

16

Political environment

-consists of laws, govt. agencies and other groups that can influence companies
-federal trade commission
-food and drug administration
-federal communications commission

17

Legal environment

- u.s laws governing business have two purposes:

-ensure that business compete fairly with each other
-ensure that businesses don't take advantage of consumers

18

The company

All of groups related to the internal environments of the business like financing, accounting, operations, etc

19

Suppliers

Where the company gets it supplies from and how they have benefited or hurt the company

20

Marketing intermediaries

Includes resellers that help promote and sell the product

21

Competitors

Company must provide greater customer value than competitors

22

Public

Any group that is an actual or potential interest in impacting on an organizations ability to achieve its goals

23

Customers

Most important factor to company's organization did
Different types of customer markets

24

Demographic

The study of the human population in terms of size,density, location, age, gender, race, occupation etc

25

Economic environment

Factors that affect consumer purchasing power and spending patterns

26

Natural environment

Anything that happens in the natural world like weather, natural disasters,pollution

27

Technological

Forces that Crete new technologies, creating new product and market opportunities

28

The political and social environment

Consists of laws, government agencies and pressure groups

29

Cultural

Consists of basic values, perceptions, preferences and behaviors

30

Green marketing

Protecting and enhancing the natural environment while doing business

31

Cause marketing

Profit+nonprofit

Strategy of joining forces with a not for profit organization to tackle social problems such as child abuse, breast cancer etc

32

Environmental management perspective

Reactive - wait and then react
Proacive- forecast and act ahead of time--- the more preferred way