The Marketing Environment Chapter 3 Learning Goals 1

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The Marketing Environment Chapter 3

The Marketing Environment Chapter 3

Learning Goals 1. Understand environmental forces 2. Learn how demographic and economic factors affect

Learning Goals 1. Understand environmental forces 2. Learn how demographic and economic factors affect marketing 3. Identify trends in the firm’s natural and technological environments 4. Realize how companies react to the marketing environment 2

The Marketing Environment p Marketing Environment: n p Microenvironment n p The actors and

The Marketing Environment p Marketing Environment: n p Microenvironment n p The actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers Forces close to the company that affect its ability to serve its customers. Macroenvironment n Larger societal forces that affect the microenvironment. 3 Goal 1: Understand environmental factors

Microenvironment Actors 1. The company 2. Suppliers 3. Marketing intermediaries 4. Customers 5. Competitors

Microenvironment Actors 1. The company 2. Suppliers 3. Marketing intermediaries 4. Customers 5. Competitors 6. Publics n n Marketing must consider other parts of the organization including finance, R&D, purchasing, operations, accounting etc. that form the internal environment. Marketing decisions must relate to broader company goals and strategies. 4 Goal 1: Describe environmental factors

Microenvironment Actors 1. The company 2. Suppliers 3. Marketing intermediaries 4. Customers 5. Competitors

Microenvironment Actors 1. The company 2. Suppliers 3. Marketing intermediaries 4. Customers 5. Competitors 6. Publics n n n Provide the resources needed to produce goods and services and are an important link in the “value delivery system”. Marketers must watch supply availability and pricing Effective partnership relationship management with suppliers is essential 5 Goal 1: Describe environmental factors

Microenvironment Actors 1. The company 2. Suppliers 3. Marketing intermediaries 4. Customers 5. Competitors

Microenvironment Actors 1. The company 2. Suppliers 3. Marketing intermediaries 4. Customers 5. Competitors 6. Publics n n n Help to promote, sell and distribute goods to final buyers Include resellers, physical distribution firms, marketing services agencies and financial intermediaries Effective partner relationship management is essential 6 Goal 1: Describe environmental factors

Microenvironment Actors 1. The company 2. Suppliers 3. Marketing intermediaries 4. Customers 5. Competitors

Microenvironment Actors 1. The company 2. Suppliers 3. Marketing intermediaries 4. Customers 5. Competitors 6. Publics n The five types of customer markets p Consumer p Business p Reseller p Government p International 7 Goal 1: Describe environmental factors

Microenvironment Actors 1. The company 2. Suppliers 3. Marketing intermediaries 4. Customers 5. Competitors

Microenvironment Actors 1. The company 2. Suppliers 3. Marketing intermediaries 4. Customers 5. Competitors 6. Publics n Those who serve a target market with similar products and services against whom a company must gain strategic advantage. n Conducting competitor analysis is critical for success of the firm n A marketer must monitor its competitors’ offerings to create strategic advantage 8 Goal 1: Describe environmental factors

Microenvironment Actors 1. The company 2. Suppliers 3. Marketing intermediaries 4. Customers 5. Competitors

Microenvironment Actors 1. The company 2. Suppliers 3. Marketing intermediaries 4. Customers 5. Competitors 6. Publics n n A group that has an actual or potential interest in or impact on an organization Type of public: p Financial p Media p Government p Citizen-action p Local p General p Internal 9 Goal 1: Describe environmental factors

The Macroenvironment Major forces in the company’s Macroenvironment 10 Goal 1: Describe environmental factors

The Macroenvironment Major forces in the company’s Macroenvironment 10 Goal 1: Describe environmental factors

The Macroenvironment p Demographic - The study of human populations in terms of size,

The Macroenvironment p Demographic - The study of human populations in terms of size, density, location, age, gender, race, occupation and other statistics p Economic - factors that affect consumer purchasing power and spending patterns. p Natural Environment - Involves the natural resources that are needed as inputs by marketers or that are affected by marketing activities 11 Goal 2: Learn how demographic & economic factors affect marketing

The Macroenvironment p Technological - Forces that create new technologies, creating new product and

The Macroenvironment p Technological - Forces that create new technologies, creating new product and market opportunities. p Political - laws, agencies and pressure groups that influence and limit organizations and individuals in a given society. p Cultural - institutions and other forces that affect a society’s basic values, perceptions, preferences, and behaviors. 12 Goal 3: Identify trends in natural and technological environments

Demographic Trends Changing Age Structure Changing Family Late marriage, fewer children, working women Geographic

Demographic Trends Changing Age Structure Changing Family Late marriage, fewer children, working women Geographic Shifts Moving to the suburbs, “micropolitan areas” 13 Goal 2: Learn how demographic & economic factors affect marketing

Changing Consumer Spending Patterns Engel’s laws p As family income rises p The percentage

Changing Consumer Spending Patterns Engel’s laws p As family income rises p The percentage constant, p The percentage that devoted to p spent food declines, spent on housing remains about spent on most other categories and savings increase. 14

Technological Environment p Changes rapidly p Creates new markets and opportunities p Challenge to

Technological Environment p Changes rapidly p Creates new markets and opportunities p Challenge to make practical, affordable product p Safety regulations result in higher research costs 15 Goal 3: Identify trends in natural and technological environments

Natural Environment Shortages of Raw Materials Environmentally Sustainable Strategies Factors Affecting the Natural Environment

Natural Environment Shortages of Raw Materials Environmentally Sustainable Strategies Factors Affecting the Natural Environment Increased Pollution Governmental Intervention Goal 3: Identify trends in natural and technological environments 16

Responding to the Marketing Environment “There are three kinds of companies: those who make

Responding to the Marketing Environment “There are three kinds of companies: those who make things happen, those who watch things happen, and those who wonder what’s happened. ” Passive acceptance p Proactive stance p 17 Goal 4: Realize how companies react to the marketing environment

MARKETING ENVIRONMENT THE MARKETING ENVIRONMENT The Marketing EnvironmentMARKETING ENVIRONMENT THE MARKETING ENVIRONMENT The Marketing Environment
MARKETING ENVIRONMENT Marketing environment Marketing environment is definedMARKETING ENVIRONMENT Marketing environment Marketing environment is defined
ENVIRONMENT ENVIRONMENT Define environment ENVIRONMENT Environment the socialENVIRONMENT ENVIRONMENT Define environment ENVIRONMENT Environment the social
Analyzing Marketing Environment ENVIRONMENT Macro Environment Micro EnvironmentAnalyzing Marketing Environment ENVIRONMENT Macro Environment Micro Environment
MARKET ENVIRONMENT Marketing Environment The marketing environment consistsMARKET ENVIRONMENT Marketing Environment The marketing environment consists
3 The Marketing Environment Marketing Environment The marketing3 The Marketing Environment Marketing Environment The marketing
MARKETING Marketing MARKETING Learning Intentions To introduce marketingMARKETING Marketing MARKETING Learning Intentions To introduce marketing
CHAPTER 3 THE GLOBAL MARKETING ENVIRONMENT MARKETING ENVIRONMENTCHAPTER 3 THE GLOBAL MARKETING ENVIRONMENT MARKETING ENVIRONMENT
Chapter 3 The Marketing Environment 1 Marketing EnvironmentChapter 3 The Marketing Environment 1 Marketing Environment
Chapter 2 Analyzing the Marketing Environment Marketing EnvironmentChapter 2 Analyzing the Marketing Environment Marketing Environment
CHAPTER 2 MARKETING ENVIRONMENT Definition Marketing Environment DefinedCHAPTER 2 MARKETING ENVIRONMENT Definition Marketing Environment Defined
BUSINESS ENVIRONMENT BUSINESS ENVIRONMENT What is Environment EnvironmentBUSINESS ENVIRONMENT BUSINESS ENVIRONMENT What is Environment Environment
CHAPTER 13 MARKETING WHAT IS MARKETING Marketing MarketingCHAPTER 13 MARKETING WHAT IS MARKETING Marketing Marketing
The Marketing Environment Chapter 3 Learning Goals 1The Marketing Environment Chapter 3 Learning Goals 1
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The Marketing Environment THE MARKETING ENVIRONMENT The externalThe Marketing Environment THE MARKETING ENVIRONMENT The external