marketing ch 3 and 19

marketing environment

made of controllable and uncontrollable factors

swot analysis

strengths, weaknesses, opportunities, threats

macroenvironment

the larger societal factors that affect the microenvironment (demographic, economic, natural, political, technological, cultural forces)

microenvironment

the company, suppliers, marketing intermediaries, competitors, publics, customers

publics

any group that has actual/potential interest or impact on an organizations ability to achieve its objectives (banks, media, advocacy groups)

standardized global marketing

uses the same marketing strategy and mix in the companys global markets

adapted global marketing

adjusts strategy and mix to each global target market

indicators of market potential (PESTLE)

political, economic, sociocultural, technology, legal, environment

global product and communication strategies are

straight, product, communication, dual adaption, product invention

straight extension

dont change product or communications

communication adaptation

dont change product, adapt communications

product adaptation

dont change communications, adapt product

dual adaptation

adapt communications and product

product invention

develop new product