Principles of Marketing, 17/e

3 Reviewing and Extending the Concepts

Objectives Review and Key Terms

Objectives Review

In this and the next two chapters, you’ll examine the environments of marketing and how companies analyze these environments to better understand the marketplace and consumers. Companies must constantly watch and manage the marketing environment to seek opportunities and ward off threats. The marketing environment consists of all the actors and forces influencing the company’s ability to transact business effectively with its target market.

Objective 3-1 Describe the environmental forces that affect the company’s ability to serve its customers. (pp 68–72)

The company’s microenvironment consists of actors close to the company that combine to form its value ...