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Marketing chapter 3 January 21.docx

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MARK 1028

Marketing chapter 3 January 21, 2013 The marketing environment  Actors and forces outside marketing that affect the ability to build profitable relationships  Maintain successful relationships with target customers  Must watch and adapt to changing environments Role of SWOT  Complete analysis of the company  How to best serve the customer  Evaluate overall company Microenvironment  Strengths  Weaknesses  Actors close to the company that affect its ability to serve its customers  company,  suppliers,  marketing,  intermediaries  competitors  publics *Build relationships with other company departments, suppliers, intermediaries, customers, competitors and publics *Creating value delivery network Marketing managers help top managers make decisions The company  Finance-finding and using funds to carry out the marketing plan  R&D-designing safe and attractive products  Purchasing-getting supplies and materials  Operations-producing and distributing the desired quality and quantity of products  Accounting-Measure revenues and costs Marketing involves all departments *Think Consumer *work in harmony to provide superior customer value and satisfaction Suppliers  Resources provided to produce goods and services  Partners to provide value  Monitor supply availability, shortages or delays and strikes Intermediaries  Resellers-help find customers or make sales to them  Firms that help the company promote, sell, and distribute goods to final buyers  Physical distribution-help company to stock and transfer goods  Marketing service agencies-marketing research firms  Financial intermediaries-help finance transactions or insure against risks *Partners help to promote product, as well as teach you other aspects of the business Competitors  Can help raise and lower prices  Must provide greater customer value than competitors do  Must gain strategic advantage via positioning against competitors in minds of consumer  No single strategy works for all companies Publics  Can protect company  Group that has an actual or potential interest in or impact on organizations ability to achieve objectives  Stakeholders  Have interest in firms success  Financial, media, government, general etc  Government can regulate air pollution Publics cont’d  Financial Publics-influence companies ability to obtain funds  Media publics-carry news, features, and editorial opinion  Government Publics-government developments  Citizen action Publics-public relations to stay in touch with consumer and citizen groups  Local Publics-neighbourhood residents or community organizations  General Public-general attitude towards product  Internal Publics-workers, managers, volunteers, board of directors *design marketing plan for consumers and publics Customer Markets  Five types of customer markets  Consumer, business, reseller, government, international Macroenvironment  Larger societal forces that affect the microenvironment  Demographics  Economic  Cultural  Natural  Technological  political Demographics  Study of human population  Population size, density, location, age, gender, race  Statistics  Involves people who make up a market *Huge market for children’s education products Trends in Demographics  Age, family structure, geographic population  Education both in school and family life  Populations diversity  Canadian population is getting older Age structure of the population Baby Boomers- 1946-1964  largest force shaping Canadian marketing environment  Earn more than half of all personal income  Reaching peak earnings and spending years  Spending on entertainment and enjoyment Generation X (1965-1976)  High divorce rates  Lie in the shadows of boomers  Cautious economic outlook  Less materialistic  Family comes first  Lag behind on retirement savings  Care about environment and sustainability  Word of mouth marketing- trust reviews from contacts  Skeptical Cont’d  Age 25-40  Impatient  Highly mobile  Like trends not gimmicks  Gravitate to cool and casual Millennials (generation y)  Gen Y or Echo Boomers  Born between 1977 and 2000  tech savvy (fluent with technical areas)  impatient, now oriented  Tweens 8-12  Teens 13-19  Young adults 20’s Generational Marketing  Segment based on lifestyle and life state  Not based on age  Form more precise age specific segments within each group *growing crowded nest syndrome- aged 20-29 live with parents Current Demographics  Divorce increased  Choosing not to marry, or marry later  Reduced children  Increased number of women working  Stay-at-home dads  Crowded nest  Common-law arrangements  Dual income families  Women in the workforce Geographic shifts  Migration towards metropolitan and suburban areas  Telecommute- work at home  SOHO- small office home office * greater educated (white collar) workforce Increased Diversity  Markets becoming more diverse  Immigration internationally  Ethnicity  Gay and lesbian  Disabled 
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