MKT 100 Lecture Notes - Labour Law, Consumer Confidence, Disposable And Discretionary Income

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24 Apr 2012
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- A business has a problem
o Root causes > symptoms
o Look for the root cause instead of attempting to rid yourself of the symptoms or else
they will recur
- Problem or Symptoms of the Problem
o No New Products
Smaller existing orders
Low employee morale
No new orders
Outdated equipment
Ineffective advertising
- Analyzing the situation 5 C
o Company
o Collaborators
o Customers
o Competitors
o Climate
- Analyzing the company
o Products
o Image
o Experience
o Culture
o Goals
You don’t have to follow a certain order, these should just be consider
- Analyzing Collaborators
o Distributors
o Suppliers
o Alliances
- Analyzing Customers
o Market size, growth, trends
o Segments and benefits sought & decision process
o Frequency, Quantity, Motivation
- Analyzing Competitors
o Actual or potential
o Direct or indirect
o Products
o Positioning
o Market Share
- Political Legal
o Government policies, structures, and regulations
o Political trends
o Taxation issues
o Current domestic legislation
o Future legislation
o Environmental regulations
o Employment law
o Consumer protection
o Industry specific regulations
o Competitive regulations
o Shareholder/stakeholder needs/demands
- Economic
o Domestic economic trends
o Global economic trends
o Taxation issues
o Market and trade cycles
o Market distribution trends
o Disposable income
o Job growth/unemployment
o Inflation
o Consumer confidence index
o Internal finance
o Internal cash flow
Pest
Politiics
Economics
- Socio Cultural
o Consumer values, attitudes, and opinions
o Media views
o Laws affecting social factors
o Brand company technology image
o Consumer buying patterns
o Demographics
o Lifecycle changes
o Population shifts
o Education
o Trends / Fads
o Living standards
- Technological
o Competing technology development
o Research funding
o Associated/dependent technology
o Replacement technology/solutions
o Maturity of technology
o Manufacturing maturity and capacity
o Information and communications
o Consumer buying mechanisms/technology
o Technology legislation
o Technology access/licensing/patents
o Intellectual property issues
o Rate of obsolescence
o Software innovations and changes