MARK301 Study Guide - Midterm Guide: Kyoto Protocol, Baby Boomers, Millennials

• School: University of Alberta
• Department: Marketing
• Course: MARK301
• Professor: Peter Popkowski

Document Summary

Marketing environment the factors and forces outside marketing"s direct control that affect. Microenvironment marketing management"s ability to develop and maintain successful transactions with target customers. Actors close to the company that affect its ability to serve its customers. Unique to the company and can be influenced by the company. Intermediaries include transport companies, warehouses, banks, retailers, wholesalers, insurance companies, etc. Large societal forces that affect the microenvironment. Considered to be beyond the control of the organization. Increased speed of adoption of technology leads to shorter product life cycles. Watch and react: analyze and accept environmental forces, adapt strategies to avoid threats and take advantage of opportunities. Manage it: some things are uncontrollable, so watch and react, other things are changeable, so take aggressive action to shape the environment. Aging and generational shifts (baby boomers generation x generation y) All factors that affect consumer buying power and spending patterns. Income levels and distribution, inflation, interest rates, employment: business cycle (growth, recession)