Principles of marketing: Lecture 10

Principles of marketing: Lecture 10 provide students with knowledge about: the macro-environment; forces that shape opportunities and pose threats to a company; key demographic trends; changing household; geographic population shifts;... Please refer to this lesson for details!

MGT301 Principles of Marketing Lecture­10 Summary of   Lecture­9 The Marketing Environment Demographic Company Cultural Publics Economic Suppliers Company Political Competitors Customer s Intermediaries Technological Natural The Microenvironment Company Company  Suppliers  Suppliers Publics Publics Forces Affecting a  Forces Affecting a  Company’s Ability to  Company’s Ability to  Serve Serve Customers Customers Competitors Competitors Intermediaries Intermediaries Customers Customers Today’s Topics The Macroenvironment Demographic Demographic Cultural Cultural Forces that Shape Forces that Shape Opportunities  Opportunities  and Pose Threats and Pose Threats to a Company to a Company Political Political Economic Economic Natural Natural Technological Technological Demographic   Demographic ­ monitors population in terms of age,  sex, race, occupation, location and other statistics Key Generations    Baby Boomers Generation X Generation Y The 78 million people born  during the baby boom,  following World War II and  lasting until the early 1960’s Technology Environment Technological environment­ forces that create new technologies,  creating new product and market opportunities  Computers and computing power  Communications capabilities – cellular communications – the internet  Virtual reality Rapid Rapid Pace Pace of of Change Change High High R R& &D D Budgets Budgets Issues Issues in in the the Technological Technological Environment Environment Focus Focus on on Minor Minor Improvements Improvements Increased Increased Regulation Regulation Main Problem: It can make your product obsolete Political Environment Political environment­ laws, government agencies and pressure  groups that influence or limit marketing actions Increased Increased Legislation Legislation Changing Changing Enforcement Enforcement Key Key Trends Trends in in the the Political Political Environment Environment Greater Greater Concern Concern for for Ethics Ethics Cultural Environment Cultural environment­ forces that affect a society’s basic values,  perceptions, preferences, and behaviors Of Oneself Of the Universe Of Nature Views Views That That Express Express Values Values Of Others Of Organizations Of Society Responding to the Marketing  Environment  Reactive: Passive Acceptance and Adaptation  – Companies design strategies that avoid threats and  capitalize upon opportunities    Proactive: Environmental Management – Use of lobbyists, PR, advertorials, lawsuits, complaints, and  contractual agreements to influence environmental forces Identifying Potential Markets     Money – Relative buying power Growth – Rate of growth Concentration – Population density Literacy – Communication concerns Enough for today. .  Summary The Macroenvironment Demographic Demographic Cultural Cultural Forces that Shape Forces that Shape Opportunities  Opportunities  and Pose Threats and Pose Threats to a Company to a Company Political Political Economic Economic Natural Natural Technological Technological Next… Analyzing Marketing opportunities and developing strategies­ MIS The Marketing Information System Marketing managers Marketing Information System Developing information Analysis Planning Assessing information needs Internal records Marketing intelligence Implementation Marketing environment Test markets Marketing channels Competitors Control Distributing information Marketing decision support analysis Marketing research Marketing decisions and communication Publics Macroenvironment forces MGT301 Principles of Marketing Lecture­10 ... perceptions, preferences, and behaviors Of Oneself Of the Universe Of Nature Views Views That That Express Express Values Values Of Others Of Organizations Of Society Responding to the Marketing ... research Marketing decisions and communication Publics Macroenvironment forces MGT301 Principles? ?of? ?Marketing Lecture? ?10 ...Summary of? ?  Lecture? ?9 The Marketing Environment Demographic Company Cultural Publics Economic Suppliers Company