Identify trends in the firms natural and technological environments
BY Joel Jacob Mathew Learning Goals 1. Understand environmental forces 2. Learn how demographic and economic factors affect marketing 3. Identify trends in the firms natural and technological environments 4. Explore key changes in political and cultural environments 5. Realize how companies react to the marketing environment 3-1 Case Study McDonalds Challenges and Reactions ??? Challenges Shifting consumer lifestyles Low ratings of food and service quality Atmosphere not upscale Image of being unclassy, uncultured and uncool to younger target markets ??? Marketing Initiatives Focus on core competency of consistent products and reliable service Upscale alternative including McCafe and Bistro Gourmet Healthier food options with elimination of supersize and introduction of Go Active! Adult Happy Meal 3-2 The Marketing Environment ??? Marketing Environment: ??? The actors and forces outside marketing that affect ??? ??? ??? ??? marketing managements ability to build and maintain successful relationships with target customers Microenvironment Includes the actors close to the company Macroenvironment Involves larger societal forces Goal 1: Understand environmental factors 3-3 Microenvironment Actors 1. The company ??? Marketing must consider other parts of the organization including finance, R&D, purchasing, operations and accounting ??? Marketing decisions must relate to broader company goals and strategies Goal 1: Describe environmental factors 3-4 Microenvironment Actors 1. The company 2. Suppliers ??? Marketers must watch supply availability and pricing ??? Effective partnership relationship management with suppliers is essential Goal 1: Describe environmental factors 3-5 Microenvironment Actors 1. The company 2. Suppliers 3. Marketing intermediaries ??? 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 Goal 1: Describe environmental factors 3-6 Microenvironment Actors 1. The company 2. Suppliers 3. Marketing intermediaries 4. Customers ??? The five types of customer markets ??? Consumer ??? Business ??? Reseller ??? Government ??? International Goal 1: Describe environmental factors 3-7 Microenvironment Actors 1. The company 2. Suppliers 3. Marketing intermediaries 4. Customers 5. Competitors ??? Conducting competitor analysis is critical for success of the firm ??? A marketer must monitor its competitors offerings to create strategic advantage Goal 1: Describe environmental factors 3-8 Microenvironment Actors 1. The company 2. Suppliers 3. Marketing intermediaries 4. Customers 5. Competitors 6. Publics ??? A group that has an actual or potential interest in or impact on an organization ??? Seven publics include: ??? Financial ??? Media ??? Government ??? Citizen-action ??? Local ??? General ??? Internal Goal 1: Describe environmental factors 3-9 The Macroenvironment Macroenvironmental Forces ??? Demographic ??? Technological ??? Economic ??? Political ??? Natural ??? Cultural Goal 1: Describe environmental factors 3 – 10 Demographic Environment ??? Demographic Environment: ??? The study of human populations in terms of size, density, location, age, gender, race, occupation and other statistics Goal 2: Learn how demographic & economic factors affect marketing 3 – 11 Demographic Environment Changing age structure of the U.S. population is the single most important demographic trend Baby boomers, Generation X, and Generation Y are the key groups Goal 2: Learn how demographic & economic factors affect marketing 3 – 12 Demographic Environment Key Generations Baby Boomers Born between…; BY Joel Jacob Mathew Learning Goals 1. Understand environmental forces 2. Learn how demographic and economic factors affect marketing 3. Identify trends in the firms natural and technological environments 4. Explore key changes in political and cultural environments 5. Realize how companies react to the marketing environment 3-1 Case Study McDonalds Challenges and Reactions ??? Challenges Shifting consumer lifestyles Low ratings of food and service quality Atmosphere not upscale Image of being unclassy, uncultured and uncool to younger target markets ??? Marketing Initiatives Focus on core competency of consistent products and reliable service Upscale alternative including McCafe and Bistro Gourmet Healthier food options with elimination of supersize and introduction of Go Active! Adult Happy Meal 3-2 The Marketing Environment ??? Marketing Environment: ??? The actors and forces outside marketing that affect ??? ??? ??? ??? marketing managements ability to build and maintain successful relationships with target customers Microenvironment Includes the actors close to the company Macroenvironment Involves larger societal forces Goal 1: Understand environmental factors 3-3 Microenvironment Actors 1. The company ??? Marketing must consider other parts of the organization including finance, R&D, purchasing, operations and accounting ??? Marketing decisions must relate to broader company goals and strategies Goal 1: Describe environmental factors 3-4 Microenvironment Actors 1. The company 2. Suppliers ??? Marketers must watch supply availability and pricing ??? Effective partnership relationship management with suppliers is essential Goal 1: Describe environmental factors 3-5 Microenvironment Actors 1. The company 2. Suppliers 3. Marketing intermediaries ??? 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 Goal 1: Describe environmental factors 3-6 Microenvironment Actors 1. The company 2. Suppliers 3. Marketing intermediaries 4. Customers ??? The five types of customer markets ??? Consumer ??? Business ??? Reseller ??? Government ??? International Goal 1: Describe environmental factors 3-7 Microenvironment Actors 1. The company 2. Suppliers 3. Marketing intermediaries 4. Customers 5. Competitors ??? Conducting competitor analysis is critical for success of the firm ??? A marketer must monitor its competitors offerings to create strategic advantage Goal 1: Describe environmental factors 3-8 Microenvironment Actors 1. The company 2. Suppliers 3. Marketing intermediaries 4. Customers 5. Competitors 6. Publics ??? A group that has an actual or potential interest in or impact on an organization ??? Seven publics include: ??? Financial ??? Media ??? Government ??? Citizen-action ??? Local ??? General ??? Internal Goal 1: Describe environmental factors 3-9 The Macroenvironment Macroenvironmental Forces ??? Demographic ??? Technological ??? Economic ??? Political ??? Natural ??? Cultural Goal 1: Describe environmental factors 3 – 10 Demographic Environment ??? Demographic Environment: ??? The study of human populations in terms of size, density, location, age, gender, race, occupation and other statistics Goal 2: Learn how demographic & economic factors affect marketing 3 – 11 Demographic Environment Changing age structure of the U.S. population is the single most important demographic trend Baby boomers, Generation X, and Generation Y are the key groups Goal 2: Learn how demographic & economic factors affect marketing 3 – 12 Demographic Environment Key Generations Baby Boomers Born between…
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