Chapter 3- Analyzing the Marketing Environment

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Political environment

Laws, government agencies, and pressure groups that influence and limit various organizations and individuals in a given society

Microenvironment

The actors close to the company that affect its ability to serve its customers- that company, suppliers, marketing intermediaries, customer markets, competitors, and publics

Macroenvironment

The larger societal forces that affect the microenvironment- demographic, economic, natural, technological, political, and cultural forces

Marketing environment

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

Suppliers

people and organizations who provide the raw materials the organization uses to produce its output

Marketing intermediaries

Firms that help the company to promote, sell, and distribute its goods to final buyers; they include resellers, physical distribution firms, marketing service agencies, and financial intermediaries

Public

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

Demography

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

Baby boomers

The 78 million people born during the baby boom, following World War II and lasting until the early 1960s

Generation x

The 45 million people born between 1965 and 1976 in the "birth dearth" following the baby boom

Millennials

The 83 million children of the baby boomers, born between 1977-2000

Generational marketing

Marketing to members of a generation, who tend to share the same outlook and priorities. Ex: baby boomers, Gen X, Y.

Economic environment

Factors that affect consumer buying power and spending patterns

Engel's laws

Differences noted over a century ago by Ernst Engel in how people shift their spending across food, housing, transportation, health care, and other goods and services categories as family income rises.

Natural environment

Natural resources that are needed as inputs by marketers or that are affected by marketing activities

Environmental sustainability

a management approach that involves developing strategies that both sustain the environment and produce profits for the company

Technological environment

Forces that create new technologies, creating new product and market opportunities

Political environment

Laws, government agencies, and pressure groups that influence and limit various organizations and individuals in a given society

Cause-related marketing

The practice of linking products to a worthwhile social cause on an ongoing or short-term basis

Cultural environment

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

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