Ch. 15 - The Marketing Environment

True or False: Opportunities and threats are both internally focused.

False

SWOT Analysis

A framework a marketer can use as a tool when environmental scanning

Immediate Environment

Actors (such as companies, people, groups, or organizations) that can directly influence a company's ability to market successfully

Technological Forces

Anything that affects innovation, including technological advances, hardware and software capabilities, and the state of learning in general

Which factor in the external environment includes all factors that influence the wealth or buying power of consumers?

Economic

_____ help get the product to customers and can help fulfill functions such as sales and distribution.

Intermediaries

What includes all the forces that affect a company's ability to do business?

Marketing Environment

What is the first step for scanning the environment?

Observe

What is an example of an external environment force?

Political, Economic, Social (ALL)

Which factor in the external environment IS the customer base?

Social

What are possible sources for external environment scanning?

Social media, trade associations, and magazines, Employee feedback, customer feedback, customer insight research, Industry experts, census data, industry and government reports (ALL)

What are attributes of a company that give it a competitive advantage or superior position?

Strengths

Which external environment factor includes anything that affects innovation?

Technological

External Environment

Uncontrollable forces which affect the company and all actors in the immediate environment and establish the surrounding context in which business is conducted