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42 Cards in this Set
- Front
- Back
Marketing Environment |
The actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers. |
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Microenvironment |
actors close to the company that affect its ability to serve its customers
the company, suppliers, marketing intermediaries, customer markets, competitors, and publics |
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Macroenvironment |
Larger societal forces that affect the microenvironment
demographic, economic, natural, tech, political, and cultural forces |
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Internal Environment |
Microenvironment: The Company
finance, research and development, purchasing, operating, and accounting
Provide resources needed by company to produce its goods and services |
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Marketing Intermediaries |
Help company promote, sell, and distribute its products to final buyers
resellers, physical distribution firms, marketing services agencies, and financial intermediaries |
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Resellers |
Distribution channel firms that help the company find customers or make sales to them.
Wholesalers, retailers |
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Physical Distribution Firms |
Help company stock and move goods from their points of origin to their destinations. |
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Marketing Service Agencies |
Marketing research firms, advertising agencies, media firms, and marketing consulting firms that help the company target and promote its products to the right markets |
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Financial Intermediaries |
Banks, credit companies, insurance companies, and other businesses that help finance transactions |
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Public |
Any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives. |
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7 Types of Publics |
1. Financial 2. Media 3. Government 4. Citizen-action 5. Local 6. General 7. Internal |
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Financial Publics |
1 of the 7 types of publics
This group influences the company's ability to obtain funds.
Banks, investment analysts, stockholders are major of this. |
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Media Publics |
1 of the 7 types of publics
This group carries news, features, and editorial opinion.
Newspapers, magazines, tv stations, blogs, and other internet media |
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Government Publics |
1 of the 7 types of publics
Management must take government developments into account
Marketers must often consult the company's lawyers on issues of product safety, truth in advertising, etc... |
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Citizen-action Publics |
1 of the 7 types of publics
A company's marketing decisions may be questioned by consumer organizations, environmental groups, minority groups, etc...
Public relations can help it stay in touch with consumer and citizen groups |
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Local Publics |
1 of the 7 types of publics
This group includes neighborhood residents and community organizations. |
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General Publics |
1 of the 7 types of publics
A company needs to be concerned about the society's attitude towards its products and activities. Public image of company affects buying. |
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Internal Publics |
1 of the 7 types of publics
This group includes workers, managers, volunteers, and board of directors.
Large companies use newsletters to inform and motivate them. When company feels good about it, it spills over to External Publics. |
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Consumer Markets |
Individuals and households that buy goods and services for personal consumption. |
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Business Markets |
Buy goods and services for further processing or use in their production processes |
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Reseller Markets |
Buy goods and services to resell for profit |
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Government Markets |
Government agencies that buy goods and services to produce public services or transfer goods and services to others |
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International Markets |
Buyers in other countries, including consumers, producers, resellers, and governments. |
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6 Actors in the Microenvironment |
1. The Company 2. Suppliers 3. Marketing Intermediaries 4. Competitors 5. Publics 6. CUSTOMERS |
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6 Actors in the Macroenvironment |
1. Demographic 2. Economic 3. Natural 4. Technological 5. Political 6. Cultural |
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Demography |
Study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics |
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Baby Boomers |
Demographic
Wealthiest generation in U.S. history
Not phasing out, just new phase in life, continue to work, hit hard after great recession |
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Generation X |
Demographic
People born between 1965 and 1976.
Overlooked, less materialistic, prize experience, first to grow up in internet era, most educated |
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Millennials/Generation Y |
Demographic
Born between 1977 and 2000
Larger than previous demographics, most in debt, technology is a way of life
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Common Geographic/Demographic Trends |
Less people marrying into traditional household
Women rising in workforce
People moving to warm states and away from midwest/northeast
People working in micropolitan and suburban areas
Telcommunting- Working from Home
Better educated
Salad-Bowl Diversity is Increasing (Especially Hispanics)
LGBT awareness rises
Disability Services
Value Marketing, frugal spenders, dollar stores are fastest growing retailers in nation |
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Economic Environment |
Consists of economic factors that affect consumer purchasing power and spending patterns |
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Industrial Economies |
Rich markets for many different kinds of goods |
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Subsistence Economies |
Consume most of their own agricultural and industrial output and offer few market opportunities. |
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Developing Economies |
Offer outstanding marketing opportunities for right kinds of products. |
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Income Distribution |
Large gap of rich ans poor, shrinking middle class |
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Natural Environment (3 Trends) |
Physical environment and natural resouces that are needed as inputs by marketers or that are affected by marketing activities.
Trends 1. Shortage of raw materials 2. Increased pollution 3. Increased government intervention |
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Environmental Sustainability |
Green-movement
Effort to create a world economy that the planet can support indefinately.
Meeting present needs without compromising the ability of future generations to meet their needs. |
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Technological Environment |
Just as it sounds |
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Political Environment |
Consists of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society |
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Public Policy |
Sets of laws and regulations that limit business for the good of society as a whole. |
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Business Legislation has been enacted bc... |
1. Protect Companies from eachother (prevent unfair competition)(FTC Federal Trade Commission and Attorney General's Office) 2. Protect Consumers from unfair business practices 3. Protect the Interests of society against unrestrained business behavior |
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Cultural Environment |
Institutions and other forces that affect a society's basic values, perceptions, preferences, and behaviors |