Class Notes (835,108)
Canada (508,934)
Marketing (28)
MARK 1028 (1)
Lecture

Marketing chapter 3 January 21.docx

8 Pages
60 Views
Unlock Document

Department
Marketing
Course
MARK 1028
Professor
W I L L I A M R O S E
Semester
Winter

Description
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 
More Less

Related notes for MARK 1028

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit