Chapter 3 Flashcards
Marketing environment
Refers to actors and forces outside marketing management’s ability to build and maintain successful relationships with target customers
Micro environment
Actors close to the company that affect its ability to serve customers
Macro environment
Larger societal forces that affect the micro environment
Actors in micro environment
The company, suppliers, marketing intermediaries, competitors, the public, customers
Company
Interrelated groups in a company from internal environment, share responsibility for understanding customer needs and creating customer value
Suppliers
Provide company with resources needed to produce goods/services
Marketing intermediaries
Help company promote, sell, distribute products to final buyers
Resellers, physical distribution firms, marketing services agencies, financial intermediaries
Competitors
Companies should consider its own size and industry position compared to its competitors both big and small
Publics
Any group that has actual or potential interest in it impact an organization’s ability to achieve its objectives
Financial (banks, stock holders, etc), media, government, citizen action, local, general, internal
Customers
- Consumer
- Business
- Reseller
- Government
- International
Major forces in macro environment
Demographic, economic, natural, technological, political, cultural
Demography
Study of human population in terms of size, density, location, age, gender, race, occupation, etc.
Economic environment
Economic factors affect consumer purchasing power and spending patterns
Natural environment
Physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities.
Examples:
Shortages of raw materials, increased pollution, increased government intervention
Technological environment
New technologies create new markets and opportunities
