Class Notes (839,246)
Canada (511,223)
Marketing (28)
MARK1020 (22)
Lecture 3

MARK1012 Week 3

2 Pages
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Department
Marketing
Course Code
MARK1020
Professor
Robert Goode

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Description
Week 3: 9/17/2013 LECTURE Ch. 3 Analyzing the Marketing Environment: Micro 3C and Macro CDSTEP Micro Components: company, competition, corporation profits 1. Company Capabilities - What we are strong at - Apply knowledge to new products - Apple strong in design, manufacturing, promo, and distribution of Mac cpus. o Led to digital audio products: iPod, iPhone, iPad o Transferred core competencies from Mac to other products - Pepsi known for carbonated beverages o Strength in soda but people are becoming more health conscious o Limited growth o Take their skills in this area -> water 2. Analyze Competitors (indirect + direct) - Identify and analyze direct and indirect competitors - Know strengths & weaknesses - Competitive Intelligence (CI) used to collect and synthesize info • Should we compete? • If so, in what markets should we compete? • How should we compete? When Apple intro new cpu, nobody’s surprised b/c they’re well known. 3. Corporate Partners help bring products to markets at right time/price Macro – can’t control but have to monitor it Culture . The shared meanings, beliefs, morals, values, and customs of a group of people. Country. Entails easy-to-spot visible nuances that are particular to a country, such as dress, symbols, ceremonies, language, colours, and food preferences, and more subtle aspects, which are trickier to identify. Regional. The region in which people live in a particular country affects the way they react to different cultural rituals, or even how they refer to a particular product category. Demographics. Characteristics of human populations and segments, especially those used to identify consumer markets, such as age, gender, income, race, ethnicity, and education. - doesn’t give full insight: people are mentally different Generation cohort. Similar purchase behaviour b/c of shared experiences and life stage. o Tweens (age 9-12) food/drink, electronics, clothing, grew up w/ tech o Gen Y (teens-young adults) tech savvy; love digital electronics o Gen X (36-47) less interested in status products o Baby Boomers. (48-66) after WWII – obsessed w/ maintaining youth, leisure is high priority, individualistic o Seniors (>65) conservative spending, like “made in Canada”, value, classic style
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