Is the institutions and other forces that affect a societys basic values perceptions preferences and behaviors?

Chapter 3 Vocabulary

Marketing Environment: The actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers.

Microenvironment: The actors close to the company that affect its ability to serve its customers- the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.

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

Marketing Intermediaries: Firms that help the company to promote, sell, and distribute its goods to final buyers.

Public: Any group that has an actual or potential interest in or impact on an organizations ability to achieve its objectives.

Demography: The study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics.

Baby Boomer: The 78 million people born during the Baby Boom following World War II and lasting until 1964.

Generation X: The 45 million people born between 1965 and 1976 in the "birth dearth" following the baby boom,.

Millenials (or Generation Y): The 83 million children of the baby boomers, born between 1977 and 2000.

Economic Environment: Factors that affect consumer buying power and spending patterns.

Engel's Law: differences noted over a century ago by Ernst Engel in how people shift their spending across food, housing, transportation, health care, and other goods and services categories as family income rises.

Natural Environment: Natural resources that are needed as inputs by marketers or that area affected by marketing activities.

Technological Environment: Forces that create new technologies, creating new product and market opportunities.

Political Environment: Laws, government agencies, and pressure groups that influence and limit various organizations and individuals in a given society.

Cultural Environment: Institutions and other forces that affect society's basic values, perceptions, preferences and behaviors.

Which is made up of institutions and other forces that affect society's basic values perceptions and behaviors?

The cultural environment consists of institutions and other forces that affect society's basic values, perceptions, preferences, and behaviors.

Which term refers to any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives?

Public. A public is defined as any group that has an actual or potential interest in, or impact on, an organization's ability to achieve its objectives.

Which environment consists of factors that affect consumer purchasing power and spending patterns?

Economic environment consists of factors that affect consumer purchasing power and spending patterns.

What includes the natural resources that a company uses as inputs that affects their marketing activities?

The natural environment is another important factor of the macro-environment. This includes the natural resources that a company uses as inputs that affects their marketing activities. The concern in this area is the increased pollution, shortages of raw materials and increased governmental intervention.

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