Food Marketing and Consumer Behaviour Chapter 2 Quiz

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.