Marketing Ch 3 Vocab

Front 1

Marketing Environment

Back 1

the actors and forces outside marketing that affect marketing management's ability to build and maintain relationships with target customers

Front 2

Microenvironment

Back 2

the actors close to the company that affect its ability to serve its customers- the company, suppliers, marketing intermediareies, customer markets, competitors, and publics

Front 3

Macroenvironment

Back 3

larger societal forces that affect the microenvironment- demographic, economic, natural, technological, political, and cultural

Front 4

Marketing Intermediaries

Back 4

firms that help the company promote, sell and distribute its goods to final buyers, they include resellers, physical distribution firms, marketing service agencies and financial intermediaries

Front 5

Public

Back 5

any group that has an actual or potential interest or impact on the organization's ability to achieve its objectives

Front 6

demography

Back 6

study of human populations in terms of size, denstity, location, age, gender, race, occupation and other statistics

Front 7

engel's laws

Back 7

differences noted by Ernst Engel in how people shift their spending across food, housing, health care, etc. as family income rises