Marketing Chpt 5 Definitions

Micro-environment

All those other organisations and individuals that, directly or indirectly, affect the activities of the organisation.

Ecological environment

Commonly referred to as 'the environment'—anything from the natural world that will have an effect on the business, be it climate change, the need to avoid polluting, or a flock of birds interfering with power transmission lines

Internal environment

Components of an organisation, such as the employees, physical tools and communication methods, which affect corporate culture.

Birth rate

The number of live births per 1000 people per year

Stakeholders

Everyone who will be affected by the actions of the organisation, or who will be charged with carrying out these actions. This may include suppliers, customers, employees, people who live nearby, and so on.

Business cycle

The periodic fluctuation in levels of economic activity, influencing profitability, output, productivity and employment. The cycle consists of periods of boom, downturn, recession and upturn

Intermediaries

Middlemen, such as wholesalers, resellers or transport agencies. They help large companies to deal with smaller companies, who then deal with consumers individually.

Competitors

Organisations that compete for the same consumer spending, with a directly or indirectly substitutable product

Marketing Environment

The individuals, organisations and forces external to the marketing management function of an organisation that impinge on the marketing management's ability to develop and maintain successful exchanges with customers.

Macro-environment

The larger, wider forces that have influence over companies and economies, including political, social and economic forces

Fertility rate

The number of babies a woman would have in her lifetime were she to have the exact current average number of babies for women her age

Demography

The study of human populations in terms of size, density, location, age, sex, occupation, education and other characteristics

Pressure groups

groups that stand for a cause, sometimes known as lobby or advocacy groups

Shareholders

n effect, the owners of a company. ownership is split into many parts, each for sale on the share market. Shareholders have a range of rights, from a share of profits (that is, a dividend) to control over the company

Disintermediation

removing the middleman, bringing consumers directly in contact with the manufacturer