MKBU 3225 Chapter Notes - Chapter 3: Natural Environment, Marketing Management, Baby Boomers

• School: Fordham University
• Department: Marketing
• Course: MKBU 3225
• Professor: Janet Di Lorenzo

Document Summary

Marketing environment: actors & forces outside marketing that affect marketing management"s ability to build & maintain successful relationships w/ target customers. Marketers can adapt strategies to meet new marketplace challenges & opportunities by carefully studying environment. Marketing success requires building relationships w/ other company departments, suppliers, marketing intermediaries, competitors, various publics & customers. Marketing management takes other company groups (internal environment) into account when designing marketing plans. Marketing managers must watch supply availability & costs b/c problems can cost sales in short run & damage customer satisfaction in long run. Marketing intermediaries: firms that help company to promote, sell & distribute its goods to final buyers (include resellers, physical distribution firms, marketing services agencies & financial intermediaries) Marketers must gain strategic advantage by positioning offering strongly against competitors" offerings in minds of consumers. Public: any group that has actual/potential interest in/impact on an organization"s ability to achieve its objectives.