MARK 1028 Lecture Notes - Baby Boomers, Swot Analysis, Global Warming

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Published on 8 Feb 2013
Department
Course
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
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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
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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
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