Principles of Marketing Kotler & Armstrong 14th Edition Chapter 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
The actors close to the company that affect its ability to serve its customers— the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.
Macroenvironment
The larger societal forces that affect the microenvironment—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 populations in terms of size, density, location, age, gender, race, occupation, and other statistics.
Baby boomers
The 78 million people born during years following World War II and lasting until 1964.
Generation X
The 45 million people born between 1965 and 1976 in the “birth dearth” following the baby boom.
Millennials (or 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
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.