26 terms

Chapter 3 Marketing

STUDY
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Terms in this set (...)

Marketing environment
The actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers
Microenvironment
The actors which is company, suppliers,marketing intermediaries, customer markets, competitors and publics.
The company
Other company groups must be considered when designing plans.
----> marketing decisions are made w/in the broader strategies made by top management.
----> all departments share responsibility for understanding customer needs and creating value.
Suppliers
Provides resources needed to produce goods and services.
Intermediaries
Firms that help the company promote, sell, and distribute it goods to final buyers.
Resellers
Distribution channel firms who find customers or make sales to them. (wholesalers, retailers)
Physical Distribution Firms
Stock and move goods from their points of origin to destinations.
Markting service Agencies
Help company's target and promote its products to the right market.
Financial Intermediaries
Financial transactions or insure the risk of association of buying and selling of goods.
Competitors
A company must provide greater customer value and satisfaction than its competitors
Publics
Any group that has an actual or potential interest in or impact on an organizations ability to achieve its goals.
Macro environment
Broader forces that effects the actors in the microenvironment .
----> Demographic, economic, natural, technological, political, cultural.
Demography
Study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics
SOHO
Small offices/ home offices
Economic Environment
Economic factors that affect consumer purchasing power and spending patterns.
Income Distribution
Unequal distribution of income has created a tiered market.
----> top 5% earns 22% of the countries adjusted growth income where the bottom 40% only earns 12.6.
Natural Environment
Natural resources that are needed as inputs by the marketers or that are affected by marketing activities.
---> key trends: Shortage of raw materials, pollution and increases government intervention.
Environnemental sustainability
Strategies and practices that create a world economy that the planet can support indefinitely.
Technological Environment
Forces that create new technologies, creating new product and market opportunities
Political- Social Environment
laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society.
Socially responsible behavior
Protect Long-Run interest of consumers and the environment. Develop policies and other responses to address social responsibility issues.
Cultural environment
Institutions and other forces that affect society basic values, perceptions, preferences, and behaviors.
Core beliefs and Values
Passes on from parents to their children. Reinforced by schools, churches, government, and business.
Secondary beliefs and values
More open to change that core beleifs
Reactive Firms
Passive, simply react to changes in the marketing enviroment
Proactive firms
firms that develop strategies to change the environment and take aggressive actions to affect the publics and forces in their marketing environment