Analyzing the Marketing Environment

These flashcards cover key concepts from Chapter 3 on analyzing the marketing environment, including definitions and roles of microenvironment and macroenvironment components.

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, including the company itself, suppliers, marketing intermediaries, competitors, and various publics.

Macroenvironment

The larger societal forces that affect the microenvironment, such as demographic, economic, natural, technological, political, and cultural forces.

Demography

The study of human populations, including size, density, location, age, gender, race, occupation, and other statistics.

Generational Marketing

Segmenting people by lifestyle or life stage instead of age, recognizing different characteristics of various generations.

Economic Environment

Factors that influence consumer purchasing behaviors, including economic trends and consumer spending habits.

Natural Environment

The physical environment and natural resources that marketers use as inputs or that are affected by marketing activities.

Technological Environment

The most dramatic force reshaping the marketplace, influencing new product development and market opportunities.

Political-Social Environment

The legal and social aspects of the environment, including regulations that protect consumers and society.

Cultural Environment

The institutions and forces that affect a society’s values, perceptions, and behaviors.

Uncontrollable Forces

Environmental factors that marketers must react and adapt to.

Proactive Approach

Taking aggressive actions to affect forces in the environment.

Reactive Approach

Watching and reacting to forces in the environment.