Mkt 3000 Ch 3

Front 1

Marketing Environment

Back 1

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

Front 2

Microenvironment

Back 2

actors close to the company that affect its ability to serve its customers

the company, suppliers, marketing intermediaries, customer markets, competitors, and publics

Front 3

Macroenvironment

Back 3

Larger societal forces that affect the microenvironment

demographic, economic, natural, tech, political, and cultural forces

Front 4

Internal Environment

Back 4

Microenvironment: The Company

Top management (sets company mission), Marketing Managers (make decisions within broader strategies and plans made by top) and also work closely with other company departments.

finance, research and development, purchasing, operating, and accounting

Microenvironment: Suppliers

Provide resources needed by company to produce its goods and services

Front 5

Marketing Intermediaries

Back 5

Help company promote, sell, and distribute its products to final buyers

resellers, physical distribution firms, marketing services agencies, and financial intermediaries

Front 6

Resellers

Back 6

Distribution channel firms that help the company find customers or make sales to them.

Wholesalers, retailers

Front 7

Physical Distribution Firms

Back 7

Help company stock and move goods from their points of origin to their destinations.

Front 8

Marketing Service Agencies

Back 8

Marketing research firms, advertising agencies, media firms, and marketing consulting firms that help the company target and promote its products to the right markets

Front 9

Financial Intermediaries

Back 9

Banks, credit companies, insurance companies, and other businesses that help finance transactions

Front 10

Public

Back 10

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

Front 11

7 Types of Publics

Back 11

1. Financial

2. Media

3. Government

4. Citizen-action

5. Local

6. General

7. Internal

Front 12

Financial Publics

Back 12

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.

Front 13

Media Publics

Back 13

1 of the 7 types of publics

This group carries news, features, and editorial opinion.

Newspapers, magazines, tv stations, blogs, and other internet media

Front 14

Government Publics

Back 14

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...

Front 15

Citizen-action Publics

Back 15

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

Front 16

Local Publics

Back 16

1 of the 7 types of publics

This group includes neighborhood residents and community organizations.

Front 17

General Publics

Back 17

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.

Front 18

Internal Publics

Back 18

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.

Front 19

Consumer Markets

Back 19

Individuals and households that buy goods and services for personal consumption.

Front 20

Business Markets

Back 20

Buy goods and services for further processing or use in their production processes

Front 21

Reseller Markets

Back 21

Buy goods and services to resell for profit

Front 22

Government Markets

Back 22

Government agencies that buy goods and services to produce public services or transfer goods and services to others

Front 23

International Markets

Back 23

Buyers in other countries, including consumers, producers, resellers, and governments.

Front 24

6 Actors in the Microenvironment

Back 24

1. The Company

2. Suppliers

3. Marketing Intermediaries

4. Competitors

5. Publics

6. CUSTOMERS

Front 25

6 Actors in the Macroenvironment

Back 25

1. Demographic

2. Economic

3. Natural

4. Technological

5. Political

6. Cultural

Front 26

Demography

Back 26

Study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics

Front 27

Baby Boomers

Back 27

Demographic

Post-World War II produced 78 million of these people born between 1946 and 1964.

Wealthiest generation in U.S. history

Not phasing out, just new phase in life, continue to work, hit hard after great recession

Front 28

Generation X

Back 28

Demographic

People born between 1965 and 1976.

Overlooked, less materialistic, prize experience, first to grow up in internet era, most educated

Front 29

Millennials/Generation Y

Back 29

Demographic

Born between 1977 and 2000

Larger than previous demographics, most in debt, technology is a way of life

Front 30

Common Geographic/Demographic Trends

Back 30

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

Workforce is becoming white collar

Salad-Bowl Diversity is Increasing (Especially Hispanics)

LGBT awareness rises

Disability Services

Value Marketing, frugal spenders, dollar stores are fastest growing retailers in nation

Front 31

Economic Environment

Back 31

Consists of economic factors that affect consumer purchasing power and spending patterns

Front 32

Industrial Economies

Back 32

Rich markets for many different kinds of goods

Front 33

Subsistence Economies

Back 33

Consume most of their own agricultural and industrial output and offer few market opportunities.

Front 34

Developing Economies

Back 34

Offer outstanding marketing opportunities for right kinds of products.

Front 35

Income Distribution

Back 35

Large gap of rich ans poor, shrinking middle class

Front 36

Natural Environment (3 Trends)

Back 36

Physical environment and natural resouces that are needed as inputs by marketers or that are affected by marketing activities.

Weather/Pollution

Trends

1. Shortage of raw materials

2. Increased pollution

3. Increased government intervention

Front 37

Environmental Sustainability

Back 37

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.

Front 38

Technological Environment

Back 38

Just as it sounds

Front 39

Political Environment

Back 39

Consists of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society

Front 40

Public Policy

Back 40

Sets of laws and regulations that limit business for the good of society as a whole.

Front 41

Business Legislation has been enacted bc...

Back 41

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

Front 42

Cultural Environment

Back 42

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