Ch3: Analyzing and Marketing Environment (Key Terms)

Marketing Environment

The actors and forces outside marketing that affect marketing management's ability to build and maintain successful and profitable relationships with target customers.

Microenvironment

The actors close to the company that affect its ability to serve its customers—the company, suppliers, marketing intermediaries, competitors, publics, and customers.

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, finance, 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 characteristics.

Baby Boomers

The 71 million people born during the years following World War II, from 1946 through 1964.

Generation X

The 65 million people born between 1965 and 1980 in the "birth dearth" following the baby boom.

Millennials

The 73 million children of the baby boomers born between 1981 and 1996.

Generation Z

People born between 1997 and 2012 who make up the tween to mid-20-something markets.

Generation Alpha

Kids born after 2012, largely the children of the millennials.

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 affect or 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, leading to 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.