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20 terms

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