Marketing Macro Environment & Landscape Analysis Flashcards

Flashcards testing core vocabulary, frameworks, and market concepts from the MKTG 201 Macro Environment lecture.

Controllable Variables

Elements of a marketing strategy that a firm can directly alter and manage, specifically the Four Ps of the Marketing Mix: Product, Price, Promotion, and Place.

Uncontrollable Variables

External environmental factors that marketers cannot directly manipulate, including Social, Economic, Technological, Competitive, and Regulatory forces.

Marketing Mix

The set of controllable tactical marketing tools—Product, Price, Promotion, and Place—that a company combines to produce the response it wants in its target market.

SWOT Analysis

A strategic planning framework used to evaluate an organization's internal Strengths and Weaknesses, as well as its external Opportunities and Threats.

Strengths (SWOT)

Internal core competencies, abilities, and capacities that provide a firm with a competitive advantage when meeting customer needs.

Weaknesses (SWOT)

Internal limitations and constraints a firm faces when attempting to deliver value to its customers.

Opportunities (SWOT)

Favorable external conditions and trends that a firm can exploit to its advantage.

Threats (SWOT)

External conditions, trends, and barriers in the market environment that hinder firm performance.

Culture

The shared set of values, attitudes, and practices that shape human behavior within a group or society.

Demographics

The objective characteristics used to describe a human population, such as age, gender, ethnicity, income, and occupation.

Generational Cohorts

Groups of individuals born during the same historical era who share common life experiences, culture, and formative history.

Digital Natives

The first generation of individuals to grow up with the internet and digital technology as an integral part of daily life, characteristic of Generation Z.

Purchasing Power

The total amount of money or financial resources a person or group has available to spend on goods and services.

Gross Income

The total monetary amount earned by an individual, household, or family in one year before taxes or living expense deductions.

Disposable Income

The amount of money left over after paying taxes, used to cover essential living costs such as food, housing, clothing, and transportation.

Discretionary Income

The remaining monetary amount available to a consumer after paying all taxes and basic necessity expenses.

Human Capital

The collective skills, knowledge, or other intangible assets of individuals that can be utilized to create economic value for individuals, employers, or society.

Porter's Five Forces Model

A framework for assessing industry competition and market attractiveness based on Threat of Entrants, Power of Suppliers, Power of Buyers, Threat of Substitutes, and Competitive Rivalry.

Threat of Entrants

The risk that existing firms lose profit potential due to new competitors entering the market.

Power of Suppliers

The leverage held by suppliers to demand higher prices or restrictive terms, reducing profit margins for purchasing companies.

Power of Buyers

The market leverage held by customers demanding lower prices, enhanced product quality, or superior services.

Threat of Substitutes

The danger of firms losing profits to lower-priced or alternative products outside the industry that fulfill the same consumer need.

Competitive Rivalry

The intensity of competitive struggle among existing market players, which can turn industry profitability into a zero-sum game.

Lysol Pro Solutions

The commercial B2B division launched by Reckitt in 2020 to establish major B2B contracts with organizations like Delta, Hilton, and Amtrak to provide certified clean environments.