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Chapter 1 Marketing Management

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1. An organization’s microenvironment is made up of actors, which are close to the company and affect the organization’s ability to serve it’s customers. Customers are actually one of the actors in a microenvironment. Marketers develop and market messages to appeal to a organization’s individual customer needs. Marketing Intermediaries are also an actor in an organization’s microenvironment. An intermediary like advertising or a transportation company could potentially increase or decrease customer satisfaction. Publics are also an actor. These publics are groups that may significantly impact marketing activities that are meant to contribute to a customers’ satisfaction with a product. 2. Demography is the study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics. The demographic environment is so important to marketers because these environments involve people, and people are what make up markets. 3. Millennials are people who were born from 1977-2000. They are of much interest to marketers because of how big of a market they create for now and the future. All of these Millennials embrace technology as a way of life, which creates more opportunities to market through social media. This marketing technique is effective because all of these Millennials understand how to use technology. 4. A trend that marketers must be aware of in the natural environment is the growing shortages of raw materials. Companies are working on practices and strategies that are environmentally sustainable in order to create a world can run without the use of as many raw materials. Another environmental trend is increased pollution. Marketers are responding to this trend by marketing products that are more environmentally friendly. These are products that are recyclable or more energy efficient. 5. Core beliefs or

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