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Chap 3 - Analyzing the Marketing Environment.docx

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Ryerson University
MKT 100
Rich Ryerson

Chap 3 - Analyzing the Marketing Environment January 24, 2014 11:55 AM • The marketing environment includes actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target consumers Micro • Core competency - existing knowledge, facilities, patents, etc. - new markets and new products • Competitors o Identify and analyze direct and indirect competitors o Know strengths and weaknesses o Competiveness Intelligence (CI) used to collect and synthesize info • CI is the art of defining, gathering, analyzing, and distributing intelligence about products, customers, competitors, individual's, concepts, • Corporate partners o Forms are part of alliances o Align with competitors, supplies o Just in time delivery system Macro • Culture o Culture: the shared meanings, beliefs, morals, values and customs of a group of people o Country Culture: Entails easy to spot visible nuances that are particular to a country (dress, symbols, ceremonies, language, colours and food preferences) o Regional Cultures: the region of a country affects the ways they react to different cultural rituals, product category. • i.e Quebec residents less likely to buy prepared food • Demographics o Provides an easily understood snapshot of the typical consumer • Generational Cohorts o Tweens • 9-12 years of age • Buying power $2.9 billion influence, $20 billion annually • Food, electronics, etc. • Learn about new products from tv shows and friends • Speeders: first generation born after the emergence of internet, technology • Value conscious o Gen Y (Millennial)
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