Marketing chapters 1&3

Marketing intermediaries

are firms that help the company to promote, sell, and distribute its goods to final buyers.

baby boomers are the most wealthy people out of generations

born 1946-1964

Publics

Any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives: •Financial publics •Media publics •Government publics •Citizen-action publics •Local publics •General public •Internal publics

what is marketing?

Process by which companies create value to customers and have strong relationships Needs wants and demand

Microenvironment

consists of the actors close to the company that affect its ability to serve its customers—the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.

Macroenvironment

consists of the larger societal forces that affect the microenvironment—demographic, economic, natural, technological, political, and cultural forces.

________ include banks, credit companies, insurance companies, and other businesses that help insure against the risks associated with the buying and selling of goods.

financial intermediaries

Which of the following groups influences the company's ability to obtain funds?

financial publics

Which of the following terms is used to describe the actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers?

marketing environment

Which of the following is a component of a firm's microenvironment?

marketing intermediaries

Sam has been directed to study the demographic, economic, political, and cultural forces that affect an organization. In this instance, Sam has been directed to study the ________ of the organization.

microenvironment

Sparex Inc. is a manufacturer of metal bolts that are used by Boilex Inc. to manufacture heavy machineries. In this instance, Sparex acts as a ________.

supplier

what is the goal of marketing?

to make selling unnecessary

t/f the customer is always right?

true1

Demographic trends

•include changing age and family structures, geographic population shifts, educational characteristics, and population diversity.

Demographic environment

•involves people, and people make up markets.

Demography

•is the study of human populations—size, density, location, age, gender, race, occupation, and other statistics.