Principles of Marketing- Kotler and Armstrong 16e Ch. 3

Marketing Environment
The actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers.
Microenvironment
consists of the actors close to the company that affects its ability to serve it customers – the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.
Marketing Intermediaries
Firms that help the company to promote, sell, and distribute its goods to final buyers.
promote, sell, and distribute
Marketing intermediaries are firms that help the company to _____, _____, and ______its goods to final buyers.
The Microenvironment and The Macroenvironment
the environmental forces that affect the company’s ability to serve its customers.
positioning
Firms must gain strategic advantage by ______ their offerings strongly against competitors’ offerings in the minds of consumers.
Public
Any group that has an actual or potential interest in or impact on an organization’s ability to achieve its objectives.
Macroenvironment
The larger societal forces that affect the microenvironment – demographic, economic, natural, technological, political, and cultural forces.
Demography
The study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics.
Demographic environment
_________ involves people, and people make up markets
Demographic trends
______include changing age and family structures, geographic population shifts, educational characteristics, and population diversity.
Baby Boomers
The 78 million people born during the years following WWII and lasting until 1964. (born 1946 to 1964) Mom
Generation X
The 49 million people born between 1965 and 1976 in the “birth dearth” following the baby boom. (born between 1965 and 1976) G
Millenials (Generation Y)
The 83 million children of the baby boomers born between 1977 and 2000. (born between 1977 and 2000) Me
Generation Z
born after 2000 ..Kids
Generational marketing
_________Generational marketing is important in segmenting people by lifestyle or life stage instead of age.
Economic Environment
Economic factors that affect consumer purchasing power and spending patterns.
Value marketing
________involves offering financially cautious buyers greater value—the right combination of quality and service at a fair price.
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 groups 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.
Core beliefs and values
are persistent and are passed on from parents to children and are reinforced by schools, churches, businesses, and government.
Secondary beliefs and values
______are more open to change and include people’s views of themselves, others, organizations, society, nature, and the universe.