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Marketing Environment: M.N.M. Nismi Senior Lecturer Topic Outline

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Marketing Environment: M.N.M. Nismi Senior Lecturer Topic Outline

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Questions and Answers

What is the definition of Marketing Environment?

The set of forces that influence a business's ability to create value and serve customers (correct)

The controllable and uncontrollable forces that affect a firm’s financial status

The uncontrollable forces that impact a firm’s ability to produce and distribute products

The actors and forces that affect a firm’s ability to build and maintain successful relationships with suppliers

What are the two main aspects of the Marketing Environment?

Economic environment and Political environment

Micro environment and Macro environment (correct)

Natural environment and Technological environment

Cultural environment and Demographic environment

According to the Porter's Five Forces Model, which force refers to the power of customers to negotiate prices and terms?

Threat of substitute products

Bargaining power of customers (correct)

Competitive rivalry within an industry

Threat of new entrants

What does the Microenvironment consist of?

Actors close to the company that affect its ability to serve its customers Signup and view all the answers

Which aspect of the Marketing Environment includes factors like population size, age, gender, and income distribution?

Demographic Marketing Environment Signup and view all the answers

What is the main focus of the Macro environment in the Marketing Environment?

External factors that impact the company's operations but are beyond its control Signup and view all the answers

What do marketing intermediaries help the company with?

Promote, sell, and distribute products to final buyers Signup and view all the answers

Which group influences a company's ability to obtain funds?

Financial publics Signup and view all the answers

Who are considered as part of the internal publics for a company?

Workers, managers, board of directors, shareholders Signup and view all the answers

What is the role of suppliers in the micro environment of a company?

Provide resources to produce goods and services Signup and view all the answers

What do marketing services agencies help the company with?

Targeting and promoting products to the right markets Signup and view all the answers

What do publics refer to in a company's micro environment?

Groups that have an interest in or impact on an organization's ability to achieve its objectives Signup and view all the answers

What is the purpose of financial intermediaries for a company?

Finance transactions or insure against risks associated with buying and selling of goods Signup and view all the answers

What is the role of competitors in a company's micro environment?

Firms must gain strategic advantage by positioning their offerings against competitors’ offerings Signup and view all the answers

What is the significance of watching supply availability for marketing managers?

Can cost sales in the short run and damage customer satisfaction in the long run Signup and view all the answers