Marketing Chapter 3 Microenvironment Objective 1 define environmental forces that affect companies ability to serve customers Supplier issues effecting cost sales short term customer satisfaction long term Supply shortages delays labor strikes natural disasters Marketing intermediaries firms that help companies promote sell and distribute goods Resellers distribution channel firms help find customer make sales whole salers retailers Physical distribution firms stock and move goods from origin to destination Marketing se4rvices agencies research firms Advertising media Financial intermediaries banks credit companies finance transactions Public group that has actual p8otential interest in organizations ability to achieve objectives Financial publics obtain funds Media publics Government publics product safety truth in advertising General public attitude toward products Citizen action publics company actions under scrutiny Local publics local community support Internal publics workers volunteers board of directors Objective 2 explain how changes in demographic and economic environments affect market decisions Macroenvironment 6 forces 1 Demographic environment population in size density location age gender race occupation a Most important demographic trend in US is age i Boomers post WW2 wealthiest generation half discretionary spending think younger than are thirst for adventure ii Gen x less materialistic prize experience moving into careers research iii Millennials Gen Y 1997 2000 fluency with technology seek out information products before buy them for marketing 2 Changing American family more divorce more working woman up 40 child day care 3 Geographic shifts in population a Us population shift towards sunbelt states west south growth b People moving to smaller cities 1 c Many people telecommunicating 4 Better educated professional population 5 Increasing diversity a Us more of a salad bowl various groups mixed together b Gay lesbian community account for 7 790 billion buying power c Disability consumers increasing 220 billion spending power Economic environment factors that affect consumer purchasing power and spending patterns 1 Changes in consumer spending 2 Income distribution a After 08 recession spending patterns changed to back to basics a Rich have grown richer middle class shrunk poor remained poor 3 Natural environment 4 resources that are needed as inputs by marketers or affect market activities a Environmental trends i Sustainability running out of water too much polluted air ii iii Increased pollution Increased governmental intervention resource management 5 Technological environment most dramatic force shaping society a Complex tech public need knowledge safe products FDA CPSC higher research costs longer lead times Political laws gov agencies pressure groups Social environment 1 Legislation regulating business a Public policy guides commerce laws regulations limit business for good of society b Reasons to enacted business legislation i To protect companies from each other ii Protect consumers from unfair business practices iii Protect interests of society against unrestrained business behavior 2 Increased emphasis on ethics and socially responsible actions a Socially responsible behavior disconnect b w some claimed ethics and practices i Internet privacy are companies stepping over boundaries b Cause related marketing companies link themselves to worthwhile causes i Value led businesses caring capitalism businesses mission to make world a ii better place Issue cause exploitative marketing idea companies using cause related marketing to increase sales improve image Cultural environment affect society s values perceptions preferences behaviors 1 Persistence of cultural values core beliefs passed on from parents and have high degree of persistence 2 a Secondary beliefs open to change 2 Shifts in secondary cultural values a Peoples views of themselves different ages groups different view00000s b Peoples views of others trend in mass mingling more interaction from communications c Peoples views of Org s sharp decrease in loyalty toward business political orgs d Views of society i Example patriotic e View of nature realization nature is finite and fragile i Businesses made with no artificial flavors organic goods f View of universe increase people not practicing religion i Big move toward spirituality Responding to marketing environment Proactive stance firms develop strategies to change environment o Hire lobbyists to influence legislation Chapter 4 Objective 1 explain importance of information in gaining insights about marketplace customers Marketing information customer insights 1 First step gain insights into what customers want and need 2 There is so much information available marketers need better information not more Customer insights understanding of customer and marketplace value of marketing research is how it is used o Customer insight groups collect customer market information use it to develop important customer insights o Marketing information system people procedures assessing info develop needed info make decisions begins and ends with customer Assessing marketing information needs define marketing info system and discuss its parts MIS must monitor marketing environment to provide decision makers with info they need to better understand customer Developing marketing information can obtain needed info from internal data marketing intelligence market research 1 Internal data electronic consumer market info from data sources within company network a Sources customer service dept sales transactions web site visits accounting dept operations inventories Issues may be incomplete or wrong for marketing decisions b 3 2 Competitive marketing intelligence systematic collection analysis of available information about consumers competitors developments in marketplace a Can show how customers talk and connect with brand b Used to stay ahead of competitors don t fall behind Marketing research systematic design collection analysis reporting of data to specific market situation Can be used for insight in customer motivations purchase behavior satisfaction 1 Defining problem and research objectives hardest step Set 3 research objectives i Exploratory research ii Descriptive research iii Casual research objective gather prelim info help define problem objective describe things market potential attitudes objective test hypothesis about cause effect relationship 2
View Full Document
Unlocking...