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201POM > Lesson 5: Macro and Micro-Environment > Flashcards

Lesson 5: Macro and Micro-Environment Flashcards

1
Q

micro environment includes

A

company, public, competitors, intermediaries, customers, suppliers

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2
Q

macro environment includes

A

demographic, cultural, political, technological, natural, economic forces

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3
Q

consists of factors close to the company that affect its ability to serve its customers

A

micro-environment

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4
Q

specifically, micro-environment includes

A

the company itself, marketing channel firms, customer markets, broad range of publics

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5
Q

consists of the larger societal forces that affect the entire microenvironment

A

macro-environment

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6
Q

broad forces that shape the character of opportunities and threats

A

macro-environment

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7
Q

An understanding of macro and micro environment forces is essential for

A

planning

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8
Q

the macro and micro-environment helps the business

A

compete more effectively against its rivals

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9
Q

the macro and micro-environment assists in the

A

identification of opportunities and threats

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10
Q

the macro and micro environment enables the organization to

A

take advantage of emerging strategic opportunities

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11
Q

job of the marketing management

A

build relationships by creating customer value and satisfaction

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12
Q

The success of marketing plans requires

A

working closely with the company’s microenvironment

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13
Q

parts of the company

A

marketing managers; finance department; top management; all managers, supervisors, and employees

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14
Q

must work closely with top management and the various company departments

A

marketing managers

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15
Q

concerned with finding and using funds required to carry out the marketing plan

A

finance department

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16
Q

sets the company mission, broad strategies, objectives, and policies

A

top management

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17
Q

should work in harmony to provide superior customer value and satisfaction

A

all managers, supervisors, and employees

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18
Q

these are the firms/business houses and individuals who provide resources needed by the company to produce goods and services

A

suppliers

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19
Q

why do suppliers have a substantial impact on the marketing operations of the compny

A

they can lower supply costs and increase product quality to gain competitive advantage

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20
Q

these have to be fully monitored and planned in order to avoid it

A

supply shortages

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21
Q

some hotels have contracted with restaurant companies to supply their food and beverages

A

suppliers

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22
Q

retail stores have contracted distributor of products or wholesalers

A

suppliers

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23
Q

some bakeries contracted suppliers of the raw materials for their bread

A

suppliers

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24
Q

it helps promote, sell, and distribute its goods to the final buyer/customers

A

marketing intermediaries

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25
Q

marketing intermediaries act as

A

middlemen, distributing agencies, market service agencies, and financial institution

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26
Q

a book engine that has created many opportunities, but it has also made interactions with intermediaries more complexx

A

internet

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27
Q

suppliers that help formulate and implement marketing strategy and tactics

A

marketing service agencies

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28
Q

types of target market

A

consumer; individual; reseller; government and other non-profit; international

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29
Q

market that includes individual and householders

A

consumer market

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30
Q

market that includes organizations buying or producing other and services

A

individual market

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31
Q

market that includes organizations buying goods and services with a view to sell them to other (retail stores)

A

reseller market

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32
Q

market that includes those buying goods and services to produce public services

A

government and other non-profit markets

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33
Q

market that includes individuals and organizations of nations other than homeland who buy for either consumption or industrialization

A

international market

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34
Q

a successful company must satisfy the needs and wants of consumers better than

A

its competitors

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35
Q

all companies always face

A

competition

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36
Q

defined as any group that has an actual or potential interest in or impact on a company’s ability to achieve its objective

A

public

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37
Q

the actions of the company affect

A

the interest of oher groups

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38
Q

factors which are external to the company’s activities and do not concern the immediate environment

A

macroenvironment

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39
Q

study of human population

A

demography

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40
Q

demography includes

A

population size, location, age, gender, race, occupation, and other stats

41
Q

why is demographic market important to marketers

A

it involves people and people make up markets

42
Q

demographic data helps in preparing

A

geographic, household, age, and sex-wise marketing plans

43
Q

factors influencing consumer buying power and strategies

A

economic forces

44
Q

affects consumer purchasing power and spending patterns

A

economic forces

45
Q

an economic environment manager generally studies

A

trends in gnp; patterns of real growth in income; variations in geographical income distribution; borrowing patterns, trends, and governmental and legal restrictions; major economic variables

46
Q

gnp stands for

A

gross national product

47
Q

economic factors include

A

inflation, deflation, unemployment, income (discretionary income), resource availability (demarketing)

48
Q

the devaluation of money by reducing what it can buy through continued price increases

A

inflation

49
Q

falling prices

A

deflation

50
Q

the proportion of people in the economy who do not have jobs and are actively looking for work

A

unemployment

51
Q

the amount of money people have to spend after paying bills and necessities

A

discretionary income

52
Q

reducing customer demand for a good or service to a level that the firm can supply

A

demarketing

53
Q

consists of many amenities that attract tourists, such as conserve natural habitats, resources, endangered species, minimize environmental impact, recycling, energy efficient products, and clean air

A

natural forces

54
Q

the natural environment of the company includes

A

natural resources needed as inputs by marketers/those affected by marketing activities

55
Q

natural environment includes

A

shortage of raw materials, increased pollution, increased government intervention, environmentally sustainable strategies

56
Q

limited quantities of non-renewable resources

A

shortage of raw materiasl

57
Q

waste disposal, air/water pollutants

A

increased pollution

58
Q

when boracay island were ordered to stop accepting tourists

A

increased government intervention

59
Q

example of environmentally sustainable strategies

A

g.r.e.e.n. movemnet

60
Q

application of science, inventions, and innovations to solve problems

A

technological forces

61
Q

has shaped our destiny which has given us wireless internet, can let us communicate with people all over the globe, send documents anywhere and anytime and inexpensive worldwide transportation

A

technology

62
Q

technology changes

A

rapidly

63
Q

technological forces create

A

new markets and opportunities like the boom in online selling

64
Q

the challenge in technological force

A

convince buyers about the quality of your product and how to make practical, affordable products

65
Q

these can result in higher research costs and longer time between conceptualization and introduction of the product

A

safety regulations

66
Q

has a long-term competitive advantage because it creates more and better products

A

new technology

67
Q

downside of technology

A

it can make existing products obsolete

68
Q

marketing decisions are strongly affected by developments in

A

political environment

69
Q

the laws, government agencies, and pressure groups that influence restricted activities of various organizations and individuals in the society

A

political forces

70
Q

political forces are also known as

A

legal forces

71
Q

political forces include

A

laws, gov. agencies, pressure groups

72
Q

reasons why legislation and regulation affecting business have been enacted

A

PROTECTS companies from each other, customers from unfair business practices, society’s interest against unrestrained business behavior

73
Q

core beliefs and values that are passed on from generation to generation and are reinforced by schools, churches, business, and government

A

cultural forces

74
Q

cultural forces are also known as

A

social forces

75
Q

cultural environment includes

A

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

76
Q

has crept into the marketing literature as an alternative to the market concept

A

social responsibility

77
Q

states business firms should take the lead in eliminating socially harmful products

A

socially responsible marketing

78
Q

elements of culture

A

language; manners and customs; technology and material culture; social institutions; education; aesthetics; religion

79
Q

social institutions in terms of culture include

A

business and family

80
Q

transmitting values, skills, attitudes in terms of culture

A

education

81
Q

attitude toward beauty, art, music, etc.

A

aesthetic

82
Q

what are the different pieces of legislation, including tax rates, that affect the business

A

political

83
Q

how likely is it for the government to intervene in the industry

A

political

84
Q

how stable is the work environment in terms of political stability and overall predictability

A

political

85
Q

is the market growing or shrinking

A

economic

86
Q

what is the savings rate of the population, and how is the employment situatin

A

economic

87
Q

is the customer spending increasing and decreasing

A

economic

88
Q

do people feel that their quality of life is improving

A

economic

89
Q

how volatile is the exchange rate, the interest rate, and other essential indicators

A

economic

90
Q

is the population growing or shrinking

A

social

91
Q

is it aging or the broad demographic is getting younger

A

social

92
Q

what are their interests

A

social

93
Q

what are the lifestyles that they lead

A

social

94
Q

how do the markets behave, especially i terms of assessing and consuming your industry products

A

social

95
Q

what are the new technologies that are changing the business landscape

A

technological

96
Q

what new ideas are gaining momentum

A

technological

97
Q

what new products and practices could threaten to make your current business obsolete

A

technological

98
Q

who provides the questions to be answered by the pest analysis

A

a.b. ilano of principles of marketing

99
Q

states that all managers, supervisors, and employees should work in harmony to provide superior customer value and satisfactions

A

marketing concept

201POM (13 decks)

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