Kotler & Armstrong | Principles of Marketing | Chapter 3

Marketing Environment
The factors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers.
Micro-environment
The factors close to the company that affect its ability to serve its customers- the company, suppliers, marketing intermediaries, customer markets, competitors, and public.
Macro-environment
The larger societal forces that affect the micro-environment- demographic, economic, natural, technological, political, and cultural forces.
Marketing Intermediaries
Firms that help the company to promote, sell, and distribute its goods to final buyers
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 population in terms of size, density, location, age, gender, race, occupation, and other statistics.
Baby Boomers
The 78 million people born during the years following World War II and lasting until 1964.
Generation X
The 49 million people born between 1965 and 1976 in the “birth dearth” following the baby boom.
Millennial (Generation Y)
The 83 million children of the baby boomers born between 1977 and 2000.
Economic Environment
Economic Factors that affect consumer purchasing power and spending patterns.
Natural Environment
The physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities.
Environmental Sustainability
Developing 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 Environment
Laws, government agencies, and pressure that influence and limit various organizations and individuals in a given society.
Cultural Environment
Institutions and other forces that affect society’s basic values, perceptions, preferences and behaviors.