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level: Chapter 3: Analyzing the Market Environment

Questions and Answers List

level questions: Chapter 3: Analyzing the Market Environment

QuestionAnswer
What is the Marketing Environment?The actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationship with target customers.
What is the Micro-Environment?The actors close to the company that affect its ability to serve its customers.
Who are the actors that affect the company in the Micro-Environment?Suppliers, marketing intermediaries, competitors, customers, publics.
What is the Macro-EnvironmentThe larger societal forces that affect the microenvironment such as demographic, economic, natural, technological, political, and cultural forces.
What Marketing Intermediaries?Firms that help a company to promote, sell, and distribute its goods to final buyers.
What are the 5 types of Customer Markets?1. Consumer Market 2. Business Market 3. Reseller Market 4. Government Market 5. International Market
What are the 7 types of Public?1. Financial Public 2. Media Public 3. Government Public 4. Citizen-action Public 5. Internal Pubic 6. General Public 7. Local Public
What is the Economic Environment?Economic factors that affect consumers purchasing power and spending patterns.
What is the Natural Environment?The physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities.
What is the Technological Environment?Forces that create new technologies, creating new product and market opportunities.
What is the Political Environment?Law, government agencies, and pressure groups that influence and limit various organizations and individuals in a given society.
What is the Cultural Environment?Institutions and other forces that affect society's basic values, perceptions, preferences, and behaviours.
Why do Companies use cause-related marketing?To exercise their social responsibility and to build a positive image.
What are Reactive Firms?Firms that passively accept the marketing environment and do not try to change it.
What is a Proactive Firm?Firms that develop strategies to change the environment.
What are the major trends in the firm's natural environments?1. Shortage of raw materials. 2. Increased pollution. 3. Increased government intervention.