Marketing Chapter 4
Environmental management perspective
A management perspective in which a firm takes aggressive actions to affect the publics and forces in its marketing environment rather than simply watching and reacting to it
Generation X
A generation of 45 million people born between 1965 and 1976; named Generation X because they lie in the shadow of the boomers and lack obvious distinguishing characteristics; other names include "baby busters," "shadow generation," or "yiffies"-young, individualistic, freedom-minded few.
Environmental sustainability
A management approach that involves developing strategies that both sustain the environment and produce profits for the company.
Public
Any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives
Financial intermediaries
Banks, credit companies, insurance companies and other businesses that help finance transactions or insure against the risks associated with the buying and selling of goods
Echo Boomers
Born between 1977 and 1994, these children of the baby boomers now number 72 million, dwarfing the Gen Xers and almost equal in size to the baby boomer segment. Also known as Generation Y.
Millennials (also called Generation Y or the echo boomers)
Born between 1977 and 2000 these children of the baby boomers number 83 million, dwarfing the Gen Xers and larger even than the baby-boomer segment. This group includes several age cohorts: tweens (ages 8 to 12), teens (13 to 18), and young adults (twenty somethings).
Suppliers
Firms and individuals that provide the resources needed by a company and its competitors to produce goods and services
Marketing intermediaries
Firms that help the company to promote, sell, and distribute its goods to final buyers; they include middlemen, physical distribution firms, marketing service agencies, and financial intermediaries
Political environment
Laws, government agencies, and pressure groups that influence and limit the activities of various organizations and individuals in society
Marketing services agencies
Marketing research firms, advertising agencies, media firms, marketing consulting firms, and other service providers that help a company to target and promote its products to the right markets
Baby boomers
The 78 million people born between 1946 and 1964
Marketing environment
The actors and forces outside marketing that affecting marketing management's ability to develop and maintain successful transactions with its target customers
Economic environment
The economic environment consists of factors that affect consumer purchasing power and spending patterns. Markets require both power and people. Purchasing power depends on current income, price, saving, and credit; marketers must be aware of major economic trends in income and changing consumer spending patterns.
Microenvironment
The forces close to a company that affect its ability to serve its customers: the company, market channel firms, customer markets, competitors, and the public
Disintermediation
the elimination of intermediaries
Macroenvironment
the larger societal forces that affect the whole microenvironment: competitive, demographic, economic, natural, technological, political, and cultural forces
Demography
the study of human populations in terms of size, density, location, age, sex, race, occupation, and other statistics