What is the combination of controllable and uncontrollable forces that affect a marketing decision
Marketing environment
True/False: Micro-environment is anything in the environment that directly affects or is directly affected by the marketing manager’s decision sometimes referred to as the internal environment
True
What is a macro environment
Environment that includes general trends the company does not directly influence sometimes referred to as external environment
Seven main components of micro environment
Market
Customers
Company
Competitors
Suppliers
Intermediaries
publics
True or false is a collection of buyers and sellers interested in making similar and related exchanges
True
What are the two types of markets and explain
Establish markets are markets with relatively stable, competitors, and customers
Evolving markets and markets that are changing rapidly, and therefore do not have stable competitors or customers
Customer is a person or organization that buys goods or services true or false
Yes
What’s is the difference between end consumers and resellers?
End consumers customers who buy the product for personal use, and resellers are customer who buy the product to exchange it with others
What is a market share?
Measurement of cells of one brand divided by the total sales in the market
Represents the proportion of cells one company or brand typically has relative to the rest of the markets
What are the three types of competitors
1) primary competitor- brands in the same markets targeting the same customer group
2) secondary competitor-brands offering different products that could be substituted from the original product
3) unexpected competitor-brand that offers the same core benefits, but with an entirely different product
Who is a supplier?
Suppliers are companies that provide materials or components that are used in the final product the company exchanges.
Companies that perform functions that help connect a client company to the customer in some way is called
Intermediaries
Who is publics
Public’s are third parties who have interests in the company market or exchange
What are the five main components of macro environment
Social/ cultural
Political/Regulatory/Legal
Economic/Financial
Natural/Environmental
Technological
