MAR 301 Lecture 3: CHAP 3
Document Summary
Includes the actors and forces outside marketing that affect marketing management"s ability to build and maintain successful relationships with customers: micro-environment. Consists of the actors close to the company that affect its ability to serve its customers, the company, suppliers, marketing intermediaries, customer markets, competitors, and publics: macro- environment. The study of human populations in terms of size, density, location, age, sex, race, occupation, and other statistics. Demographic environment is important because it involves people, and people make up markets. Demographic trends include age, family structure, geographic population shifts, educational characteristics, and population diversity. Important in segmenting people by lifestyle of life state instead of age. Includes all factors which influence consumer buying power and spending patterns. Offering financially cautious buyers greater value - the right combination of quality and service at a fair price. For example, in the post- recession era of more sensible consumer spending, value has become the marketing watchword.
