Chapter 3 Microenvironment Flashcards
Studying the environment allows marketers to (3)
- Understand the constraints they operate under
- Learn of opportunities
- Reveal threats to avoid or combat
6 actors in the microenvironment
The company Suppliers Marketing intermediaries Competitors Publics Customers
Marketers must work in harmony with other company departments to create customer value and relationships (what actor in microenvironment is this??)
The company
All departments must cooperate inter-functionally to provide superior customer value and satisfaction (what actor in microenvironment??)
The company
This actor in the microenvironment is “think consumer”
The company
Provide resources needed for production and innovation
Suppliers
Help the company promote, sell, and distribute the products to end users
Intermediaries
People who make the plastic for tide pods are
Suppliers
Apple partnering with Nike to sell shoes or Apple watches is an example of an
Intermediary
4 types of intermediaries
Resellers
Physical distribution firms
Marketing services agencies
Financial intermediaries
Selling a finished product is
Reselling
Help the company stock and move goods from their points of origin to their destination
Physical distribution firms
Help the company target and promote its products to the right markets (ex/person who designs a menu board)
Marketing services agencies
Other businesses that help finance transactions or insure against the risks associated with the buying and selling of goods
Financial intermediaries
Who might the customer choose instead or who provides reasonable substitutes to customers refers to (trying to offer superior value and satisfaction)
Competitors
What differentiates you from your competition is called
Competitive advantage
Point of difference
The law of color states
A brand should use a color that is opposite of its major competitors
7 types of publics
Financial Media Government Citizen-action Local General Internal
This group influences the company’s ability to obtain funds
Financial publics
This group carries news, features, editorial opinions, and other content
Media publics
Management must take government developments into account
Government publics
A company’s marketing decisions may be questions by consumer organizations, environmental groups, minority groups and others
Citizen-action publics
This group includes neighborhood residents and community organizations
Local publics
A company needs to be concerned about the General publics attitude toward its products and activities
General public
