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Questions and Answers
What are the five components of the marketing environment?
What are the five components of the marketing environment?
Economic forces, structural forces, political forces, social forces, technological forces
Which types of forces are considered as uncontrollable factors in the marketing environment?
Which types of forces are considered as uncontrollable factors in the marketing environment?
External, exogenous forces
What impact do the components of the marketing environment have?
What impact do the components of the marketing environment have?
They have an impact on individual firms, competitors, and the whole industry.
What are the five 'forces' in the marketing environment?
What are the five 'forces' in the marketing environment?
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What are SWOT components?
What are SWOT components?
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Give an example of an internal factor according to the text.
Give an example of an internal factor according to the text.
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What is the purpose of a SWOT grid?
What is the purpose of a SWOT grid?
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What is a criticism of SWOT analysis according to the text?
What is a criticism of SWOT analysis according to the text?
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What is the main message behind the 'Boiled Frog Syndrome'?
What is the main message behind the 'Boiled Frog Syndrome'?
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What are some examples of social values/factors mentioned in the text?
What are some examples of social values/factors mentioned in the text?
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What are some examples of technological forces mentioned in the text?
What are some examples of technological forces mentioned in the text?
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What are the economic forces mentioned in the text?
What are the economic forces mentioned in the text?
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What are qualities of unattractive industry
What are qualities of unattractive industry
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Study Notes
Marketing Environment
- The marketing environment consists of five components: internal, micro, macro, global, and external.
Internal Environment
- Internal factors are considered controllable, meaning they can be influenced by the organization.
- An example of an internal factor is the company's culture.
External Environment
- The external environment consists of micro, macro, and global components.
- Micro environment includes suppliers, customers, and competitors.
- Macro environment includes demographic, economic, natural, technological, and social forces.
- Global environment includes global market trends and global competition.
Forces in the Marketing Environment
- The five 'forces' in the marketing environment are: social, technological, economic, political, and natural.
- These forces are considered uncontrollable, meaning they cannot be influenced by the organization.
SWOT Analysis
- SWOT stands for Strengths, Weaknesses, Opportunities, and Threats.
- The purpose of a SWOT grid is to identify and analyze these components to develop a marketing strategy.
- SWOT analysis is a tool used to examine the internal and external environments of an organization.
Criticism of SWOT Analysis
- A criticism of SWOT analysis is that it is too simplistic and does not provide a comprehensive understanding of the marketing environment.
Boiled Frog Syndrome
- The main message behind the 'Boiled Frog Syndrome' is that gradual changes in the environment can go unnoticed until it's too late, and organizations must be aware of these changes to adapt.
Social Forces
- Examples of social values/factors mentioned in the text include aging population, changing lifestyles, and increasing concern for health and wellness.
Technological Forces
- Examples of technological forces mentioned in the text include advancements in digital technology, artificial intelligence, and the Internet of Things.
Economic Forces
- Economic forces mentioned in the text include inflation, recession, and changes in consumer spending patterns.
Industry Attractiveness
- Qualities of an unattractive industry include low growth rates, intense competition, and low profit margins.
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Description
Test your knowledge on Chapter 2: The marketing environment of food marketing and consumer behaviour. This quiz covers the external and uncontrollable factors that affect the marketing environment in which companies operate.
