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Name: _____________________ Marketing – Chapter 3 Review A. B. C. D. E. F. G. Baby Boomers Generation Y or Millennials Political Environment Macroenvironment Public Natural Environment Demography Date: ______________ H. I. J. K. L. M. N. O. Technological Environment Generation X Marketing Environment Microenvironment Economic Environment Cultural Environment Marketing Intermediaries Engel’s Laws _______ The actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers _______ The larger societal forces that affect the microenvironment-demographic, natural, technological, political, and cultural forces _______ The actors close to the company that affect its ability to serve its customers-the company, suppliers, marketing intermediaries, customer markets, competitors, and publics _______ Firms that help the company to promote, sell, and distribute its goods to final buyers _______ Any group that has an actual or potential interest in or impact on an organization’s ability to achieve its objectives _______ The 78 million people born during the baby boom following World War II and lasting until 1967 _______ The 45 million people born between 1965 and 1976 in the “birth death” following the baby boom _______ The 83 million children of the baby boomers born between 1977 and 2000 _______ The study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics _______ Differences noted over a century ago by in how people shift their spending across food, housing, transportation, health care, and other goods and services categories as family income rises _______ Factors that affect consumer buying power and spending patterns _______ Natural Resources that are needed as inputs by marketers or that are affected by marketing activities _______ Forces that create new technologies, creating new product and market opportunities _______ Laws, government agencies, and pressure groups that influence and limit various organizations and individuals in a given society _______ Institutions and other forces that affect society’s basic values, perceptions, preferences, and behaviors Marketing Environment Includes _______________________ and _______________________. MICROENVIRONMENT: The forces affecting the Microenvironment are: 1. 2. 3. 4. 5. 6. ___________________________ ___________________________ ___________________________ ___________________________ ___________________________ ___________________________ The company itself: Areas departments ____________ of a company. Affects the marketing departments ____________ strategies. All departments must “think consumer” and work together to provide superior customer ___________ and _________________. Suppliers: Provide resources needed to produce _____________ and ________________. Important link in the “___________ ________________ ______________.” Most marketers treat suppliers like partners. Marketing intermediaries: Help the company to _____________, sell, and _______________ its goods to final buyers. Marketing Intermediaries include: 1. 2. 3. 4. ___________________________ ___________________________ ___________________________ ___________________________ All of the following are examples of customers or markets that may purchase a company’s goods and services. 1. 2. 3. 4. 5. ___________________________ ___________________________ ___________________________ ___________________________ ___________________________ Competitors: Those who serve a target market with products and services that are viewed by consumers as being reasonable ________________for the firm’s products or services. Publics are any group that has an interest in or impact on an organization’s ability to achieve its objectives. They include all of the following: 1. 2. 3. 4. 5. 6. 7. ___________________________ ___________________________ ___________________________ ___________________________ ___________________________ ___________________________ ___________________________ MACROENVIRONMENT Forces in the macroenvironment can be categorized as: 1. 2. 3. 4. 5. 6. ___________________________ ___________________________ ___________________________ ___________________________ ___________________________ ___________________________ Demographics: The study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics. Marketers track changing age and family structures, geographic population shifts, educational characteristics and population diversity at home and abroad. What is the single most important demographic trend in the U.S.? __________________________________________________________________________________________________ Make certain you study the information about the Baby Boomers, Generation X and Generation Y. What is happening in terms of the level of education that Americans are reaching? __________________________________________________________________________________________________ What is happening in terms of the type of jobs Americans are finding? __________________________________________________________________________________________________ The U.S. is considered to be a _________________ bowl. Economic Environment consists of factors that affect ______________ purchasing power and _______________ power. Natural Environment involves ______________ ________________ that are needed as inputs by marketers or tha tare affected by marketing activities. Factors include: 1. 2. 3. 4. _____________________________________________ _____________________________________________ _____________________________________________ _____________________________________________ Technological Environment is the most ______________ shaping our destiny. Frequently can cause products to become _______________. Changes ______________. Political Environment includes laws, government agencies, and pressure groups that _____________ or ____________ various organizations and individuals in a given society. Areas of concern: 1. _____________________________________________ 2. _____________________________________________ 3. _____________________________________________ Cultural Environment: The ______________ and other forces that affect a society’s basic values, _______________, ________________, and __________________. Society’s major cultural views are expressed in people’s views of: 1. 2. 3. 4. 5. 6. ___________________________ ___________________________ ___________________________ ___________________________ ___________________________ ___________________________ Reactive responses: Many firms simply ___________ to changes in the marketing environment. Proactive responses: Some firms attempt to manage the marketing environment via aggressive actions designed to affect the ____________ and _____________ in the marketing environment. Examples of proactive responses: 1. 2. 3. 4. 5. ___________________________ ___________________________ ___________________________ ___________________________ ___________________________