Summary principles of marketing chapter 3

Marketing

Chapter 3

Marketing environment:
- Actors and forces outside marketing that affect marketing management’s ability to
build and maintain successful relationships with customers

 Microenvironment: actors close to the company
o The company:
 Top management, finance, R&D, purchasing, operations, accounting
o Suppliers
o Marketing intermediaries
 Resellers
 Physical distribution firms
 Marketing services agencies
 Financial intermediaries
o Competitors
o Publics
 Financial, media, government, citizen-action, local, general, internal
o Customers
 Consumer, business, government, international

 Macroenvironment: larger societal forces that affect the microenvironment

o Demographic: involves people and people make up markets. Age, family,
geographic population, educational, characteristics
- Generational marketing = important in segmenting people by lifestyle of life state
instead of age.
- More people are divorcing or separating, choosing not to marry, marry later, no
children, increasing number of working women, increasing number stay-at-home
dads
- Migration, move from rural to metropolitan, change in where people work, changes
in the workforce: more educated and more white collar
- Market are becoming more diverse: international and national
- Ethnicity, gay and lesbian, disabled

 Baby boomers: 1946-1964, most affluent Americans
 Generation X: 1965-1976, high divorce rates, less materialistic, family
comes first
 Millennials (Y): 1977-200, comfortable with technology, tweens, teens
and young adults
 Generation Z: > 2000, digital in their DNA