MKTG 317 Sept 13, 2012
Analyzing the external environment for trends in the market that might lead to
-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
-Economy: High cost of living, low paying job.
Describe opportunities and challenges for companies in Canada:
-Housing demand will therefore decrease negatively affecting real-estate companies.
-Banks: young adults wont be asking for loans housing
-Fast food restaurants: parents cooking meals now.
-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).
Laws and regulations to safeguard companies and consumers:
-Every aspect of marketing mix
-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
-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.