Chapter 3 Definitions

Chapter 3 Definitions: Marketing Environment - External factors influencing a company's ability to serve customers Microenvironment - Close stakeholders impacting a company's marketing decisions Macroenvironment - Broader social forces affecting a company's marketing strategies Company - Interconnected groups within an organization Suppliers - Entities providing essential resources for a company's operations Marketing Intermediaries - Firms facilitating the promotion and distribution of a company's products Competitors - Rival companies requiring strategic positioning Publics - Groups with an interest in or impact on an organization's objectives Customers - Diverse market segments that a company serves Demographic Environment - Analysis of human populations to understand and target customers Baby Boomers - Generation born between 1946 and 1965, representing a consumer segment Generation X - Generation born between 1966 and 1980, requiring time-sensitive marketing strategies Millennials - Generation born between 1981 and 1997, relying heavily on digital technology Generation Z - Generation born between 1998 and 2016, characterized by tech-savvy consumers Economic Environment - Factors influencing consumer purchasing power and spending patterns Natural Environment - Physical surroundings and resources required by marketers Technological Environment - Influence of new technologies on creating new markets and opportunities Political Environment - Government regulations and policies affecting organizations Cultural Environment - Institutions and forces shaping a society's core values
Proactive Firms - Companies actively changing their marketing environment
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