Marketing Test 1
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Define Marketing Environment.
- The actors and forces outside marketing that affect marketing management's ability to build and maintain suceessful relationships with target customers.
- *Marketers must be the environmental trackers.
What is marketing research and marketing intelligence used for?
They are used to collect information about the environment. They are disciplined methods. They also shend more time in customer/competitors environments.
The actors close to the company that affect its ability to serve its customers-the company, suppliers, marketing, intermediaries, customer markets, competitors, and publics.
The larger societal forces that affect the microenvironment-demographics, economic, natural, technological, political, and cultural forces.
Define Marketing Intermediaries.
Firms that help the company to promote, sell, and distribute its goods to final buyers.
List and define the marketing intermediaries.
- -physical distribution firms: help the company to stock and move goods from their points of origin to their destination.
- -marketing service agencies: are the marketing research firms, adertising agencies, media firms, and marketing consulting firms that help the company taget and promote its products
- -financial intermediaries: include banks, credit companies, insurance companies, and oter business that help finance transactions or insure against the risk associated with buying and selling goods.
Any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives.
List and define the different publics.
- -finanacial publics: this group influences the company's ability to obtain funds, includes banks, investments houses, and stockholders
- -media publics: this group carries news, features, and editorial opinion, includes newspapers, magazines, radio, and television
- -general public: general attitude towards products
- -internal publics: this group includes workers, managers, volunteers, and the board of directors
- -government publics: marketers must often consult with the compnay's lawyers on issues of product safety, truth in advertising, and other matters
- -citizen-action publics: consumer organizations, environmental groups, minority groups, and others
- -local publics: this group includes neighborhood residents and community organizations
What are the five types of markets that may purchase a company's goods and services?
- -Consumer markets consist of individuals and households that buy goods and services for personal consumption.
- -Business markets buy goods and services for futher processing or for use in their production process.
- -Reseller markets buy goods and services to resell at a profit
- -Government markets are made up of government agencies that buy goods and services to produce public services or transfer the goods and services to others who need them.
- -International markets consist of these buyers in other countries, including consumers, producers, resellers, and governments.
The study of human population in terms of size, density, location, age, gender, race, occupation, and other statistics.
Define Baby Boomers.
The 78 million people born durig the baby booms following World War II and lasting until 1964.
Define Generation X.
The 45 million people born between 1965 and 1976 in the "birth dearth" following the baby boom.
The 83 million children of the baby bomers, born between 1977 and 2000.
Define Economic Environment.
Factors that affect consumer buying power and spending patterns.
List and define the different economies.
- -industrial economies-constitutes markets for may different kinds of goods
- -subsistence economies-they consume most of thier own agriculture and industrial output and offer few market opportunities
- -developing economies-can offer outstanding marketing opportunities for the right kinds of products
How do changes in income and spending affect marketers?
- Value marketing has become the watchward for many marketers. Rather than offering high quality at high prices, or lesser quality at very low prices, marketers in all industries are looking for ways to offer today's more finanacially cautious buyers greater value-just the right combination of product quality and good service at a fair price.
- Marketer should pay attention to income distribution as well as income levels.
Define Engel's Laws.
Differences noted more than a century ago by Ernst Engel in how people shift their spending across food, housing, transportaion, health care, and other goods and services categories as family income rises.
Define Natural Environment.
Natural resources that are needed as inputs by marketers or that are affected by marketing activities.
What are the trends of natural environment?
- -shortage of raw materials
- -increased pollution
- -increasing government intervention
- -environmentally sustainable strategies
Define Environmental sustainability.
Developing strategies and practices that creat a world ecnonmy that the planet can support indefinitely.
Define Technological Environment.
Forces that create new technologies, creating new product and market opportunities.
Define Political Environment.
Laws, goevernment agencies, and pressue groups that influence and limit various organizations and individuals in a given society.
What are the reasons a business legislation has been enacted?
- -to protect companies
- -protect consumers
- -protect the interest of society
Define Cultural Environment.
Institutions and other forces that affect society's basic values, perceptions, preferences, and behaviors.
What are the two beliefs and value?
- -Core beliefs and values are passed from parent to children and are reinforced by schools, churches, business, and government.
- -Secondary beliefs and values are more open to change.
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