Chapter 3 (Kotler Armstrong)

Question 1

Marketing environment

Answer 1

The actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers

Question 2

Microenvronment

Answer 2

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

Question 3

Macroenvironment

Answer 3

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

Question 4

Marketing intermediaries

Answer 4

Firms that help the company to promote, sell, and distribute its goods to final buyers

Question 5

Public

Answer 5

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

Financial
Media
Government
Citizen-action
General/Internal

Question 6

Demography

Answer 6

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

Question 7

Baby Boomers

Answer 7

The 78 million people born during the baby boom following World War II and lasting until 1964

Question 8

Generation X

Answer 8

The 45 million people born between 1965 and 1976 in the “birth dearth” following the baby boom

Question 9

Millennials

Answer 9

The 83 million children of the baby boomers, born between 1977 and 2000

Question 10

Economic environment

Answer 10

Factors that affect consumer buying power and spending patterns

Question 11

Engel’s laws

Answer 11

Differences noted over a century ago by Ernst Engel in how people shift their spending across food, housing, transportation, health care, and other goods and service categories as family income rises

Question 12

Natural environment

Answer 12

Natural resources that are needed as inputs by marketers or that are affected by marketing activities

Question 13

Environmental sustainability

Answer 13

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

Question 14

Technological environment

Answer 14

Forces that create new technologies creating new product and market opportunities

Question 15

Political environment

Answer 15

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

Question 16

Cultural environment

Answer 16

Institutions and other forces that affect society’s basic values, perceptions, preferences, and behaviors