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Principles of Marketing Chapter 3
Philip Kotler Fourteenth Edition
15
Marketing
Undergraduate 1
02/11/2012

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Term
Marketing environment
Definition
actors and forces outside marketing that affect managements ability to build and maintain relationships with target customers
Term
Microenvironment
Definition
actors close to company that affect its ability to service customers
company, suppliers,marketing intermediaries, customer markets, competitors, and public's
Term
Macroenvironment
Definition
larger societal forces that affect microenvironment
demographic, economics, natural, technological, political, and cultural forces
Term
Marketing Intermediaries
Definition
Firms that help the company to promote, sell and distribute goods
Term
Public
Definition
any group that has actual/potential interest in or impact on an organization's ability to achieve its objectives
Term
Demography
Definition
Study of human populations
Term
Baby boomers
Definition
78 million people born during years following WWII
Term
Generation X
Definition
45 million people born in the "birth dearth" following the baby boom
Term
Millennials (generation Y)
Definition
83 million children of the baby boomers
Term
Economic environment
Definition
economic factors that affect consumer purchasing power and spending patterns
Term
Natural environment
Definition
natural resources that are needed as inputs by marketers or that are affected by marketing activities
Term
Environmental sustainability
Definition
developing strategies and practices that create a world of economy that the planet can support indefinitely
Term
Technological environment
Definition
forces that create new technologies, creating new product and market opportunities
Term
political environment
Definition
pressures that influence and limit various organizations and individual in a given society
Term
Cultural environment
Definition
institutions and other forces that affect society's basic values, perceptions, preferences, and behaviors
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