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20 Cards in this Set
- Front
- Back
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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 |
consists of the actors close to the company that affect its ability to serve its customers
[company, suppliers, marketing intermediaries, customer markets, competitors, publics] |
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Macroenvironment |
consists of the larger societal forces that affect the microenvironment
[demographic, economic, natural, technological, political, cultural forces] |
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The company |
in designing plans, marketing management takes other company groups into account: top management, finance R&D, purchasing, operations, accounting [internal environment] |
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Supplier |
provide resources needed by the company treat as partners |
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Marketing intermediaries |
firms that help the company promote, sell, and distribute its goods to buyers resellers- distributers physical distribution firms- helps move/stock goods marketing services agencies- helps target/promote good to right market financial intermediaries- helps with risks associated with buying and selling of goods [banks, credit, insurance] |
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competitors |
must provide greater value and satisfaction than competitors |
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publics |
any group that has an actual or potential interest in or impact on a company's ability to achieve objectives financial public- ability to obtain funds media public government public citizen-action public- minority groups local public- neighborhood community internal public- workers, managers |
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customers |
consumer markets business markets reseller markets government markets international markets |
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Demographic environment |
involves people, and people make up markets
demographic trends- shifts in age, family structure, geographic pop, educational characteristics, pop diveristy |
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Baby boomers |
(1946-1964) -most affluent -Great Recession hit them hard -maturing boomers are rethinking the purpose and value of their work, responsibilities, relationships -adventurous, not phasing out |
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Gen X |
(1965-1976) -high divorce rates, but family comes first -cautious economic outlook/less materialistic -most educated generation to date
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Millenials |
(1977-2000) -GenY or echo boomers -Financially strapped/in debt/unemployed -comfortable with technology -prefer to seek out info |
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Generational marketing |
-segment people by lifestyle instead of age -be careful when targeting one generation -each generation spans decades of time and socioeconomic levels |
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Changing American Family |
-divorcing/choosing not to marry/marry later/marry without kids -increase in working women/non-working dads -pop growth in US West and South/decline in Midwest/Northeast -more educated/white collar workers -more diverse markets- international, national, ethnicity, gay, disabled |
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The Economic Environment |
consist of economic factors that affect consumer purchasing power and spending patterns
industrial economies subsistence economies developing economies |
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The natural environment |
involves the physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities
increased shortages of RM increased pop increased govt intervention increased environmentally sustainable strategies most dramatic force in changing the marketplace new products, opportunities concern for the safety of new products |
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The technological environment |
creates both opportunities and challenges, concern for the safety of new products [most dramatic force] |
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The political environment |
-consists of laws, agencies, and groups that influence or limit marketing actions -increased emphasis on ethics and socially responsible behavior [ethics codes, etc.]
-cause related marketing can greatly benefit both the company (gains effective marketing tool) and the cause (positive public image) |
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The cultural environment |
-consists of institutions and forces that affect a society's values, perceptions, preferences, and behaviors
-core beliefs and values are passed on from parents to children and are reinforced by the community -secondary beliefs and values are more open to change and include people's views of themselves, others, society, etc. |
