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MKTG 317- Notes Jan, 2013.docx

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University of Calgary
MKTG 317
D.Lynne Ricker

MKTG 317 Sept 13, 2012 External environment: Environmental scanning: Analyzing the external environment for trends in the market that might lead to potential opportunities. -Helps to explain the 4P’s (marketing mix) -Provides data for segmentation (who is your market, potential segments, potential segments, consumer group.) Ex. More young adults than ever are moving back home to live with their parents. -The bar for entry-level jobs goes up. People go for education, salary and money are therefore lower. Reasons: -Economy: High cost of living, low paying job. Describe opportunities and challenges for companies in Canada: Challenges: -Housing demand will therefore decrease negatively affecting real-estate companies. -Travel companies -Banks: young adults wont be asking for loans housing -Fast food restaurants: parents cooking meals now. Opportunities: -Education institutions benefit for the highly specialization and further education after degree program. -Contracting companies for parents renovating houses to rehouse their children. -Clothing, Electronic stores because of young adults increase in disposable incomes (not spending on groceries or rent). Political-Legal Environment: Laws and regulations to safeguard companies and consumers: -Every aspect of marketing mix Self-Regulation: -Industries taking steps to police themselves. This is good since it is cheaper for society since government does not have to police industries less taxes. E.g. Better Business Bureau Competition Act: -Misleading pricing and advertising. E.g. Rogers’ Chatr Campaign: Misleading advertising Ethics and Morality: Three stages of Moral Character and Ethical Development: Pre-conventional: punish vs reward E.g. stores had to be closed on Sundays. $250 fine. Some stores paid the fine and stayed open anyways because of REWARD.
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