Marketing Environment and Strategies

These flashcards cover key concepts related to marketing environments, strategies, and terms discussed in the lectures.

Marketing Environment

The marketing environment consists of the internal and external factors that affect a company's ability to create value for customers.

Microenvironment

The immediate environment surrounding a company that includes suppliers, customers, competitors, and other entities that directly influence its operations.

Macroenvironment

The broader external factors that impact business operations, including economic, demographic, technological, political, and cultural factors.

Target Marketing

A marketing strategy that focuses on a specific group of consumers within a broader market.

SWOT Analysis

A framework used to identify the Strengths, Weaknesses, Opportunities, and Threats related to a business.

Customer Lifetime Value

The total worth of a customer to a business over the entirety of their relationship.

Social Marketing

Marketing strategies that focus on promoting social good and addressing societal issues.

Market Penetration

A strategy aimed at increasing the market share of an existing product or service within its current market.

Sustainability in Marketing

The approach of promoting products or practices that are environmentally friendly and socially responsible.

Environmental Strategy

Plans developed by a business to improve efficiency and reduce negative environmental impacts while pursuing sustainable growth.