MKTG1001 Lecture Notes - Lecture 3: Starbucks, Natural Environment, Marketing Strategy
Document Summary
Lecture 3: environmental analysis trends and insights: first step of entire marketing process is to analyse the environment. Insights from environment analysis informs the marketing mix: marketing process initiated by situational or environmental analysis. Micro-environment: forces close to the organisation that affect its ability to serve its customers, company, customers, market channel firms, competitors and public, suppliers firm retailers (channels) consumers public (various interest- holders) Macro environment: can impact micro-environment, larger societal forces that affect the whole micro-environment, demographic, economic, natural, technological, political forces, social and cultural, organisation and its suppliers, marketing intermediaries, customers, competitors and. Economic environment: economic environment consists of factors that affect consumer purchasing power and spending patterns. Important because it affects people"s incomes, liveability, disposable income: cost of home ownership, access to finance, consumption patterns, emerging economies and rise of middle class, shift in global economic power, new trade zones, credit card debt. Interest rate levels: employment levels, moment level of income increases = consumption increases.
