Additional+Info+on+Chapter+3

=Analyzing the Marketing Environment= //The marketing environment includes the factors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers. A comprehensive and systematic analysis of a company's environment, objectives, strategies and activities that is conducted by an outside and objective party is called a marketing audit.//


 * Microenvironment:**


 * Macroenvironment:**

A public is any group that has an actual or potential interest in, or impact on, an organization's ability to achieve its objectives. A good example of a public is the Tide Loads of Hope program. Loads of Hope
 * What is a public?**

//Cause-related marketing is a primary form of corporate giving.//

** Demographics refer to the size, density, location, age, and occupation of your target market. Let's explore the 3 largest generational groups: **
How millennial are you? Take a quiz and find out here: Quiz
 * Millennials or Echo Boomers**

//Below are my results://

They are as much defined by their shared experiences as by their age.
 * Generation X**

They are the most affluent Americans. In 1950, women made up under 40% of the workforce; now they make up 59%.
 * Baby Boomers**

Business Journal - Read a blog about the 3 generational groups

** Societal Marketing **
Business legislation has been created for 3 basic reasons:
 * 1) To protect the interests of society
 * 2) To protect customers
 * 3) To protect companies from each other

Firms must strive to deliver value to customers in a way that maintains or improves the consumer's and society's well-being.

The 3 areas of societal marketing that should be balanced are:
 * 1) Consumer wants
 * 2) Societ's interests
 * 3) Company profits

A society's cultural values are expressed in how people view themselves, organizations, society, nature, and the universe. A society's basic values, perceptions, preferences, and behaviors are all part of its cultural environment.



Economics
The economic environment consists of factors that affect consumer purchasing power and spending patterns. The recent rash of business scandals and increased concerns about the environment have created fresh interest in ethics and social responsibility.