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Lecture 3

MKT 300 Lecture 3: MKT 300 Chapter 3 Notes

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MKT 300
Susan Fant

Marketing 300 Chapter 3 Notes First Stop: Microsoft: Adapting to the Fast-Changing Digital Marketing Environment • The success of Windows increased Microsoft’s revenues, profits, and stock price • A lag occurred after the millennium from the decreased PC sales growth ➢ People moved on with new digital devices and technologies • Transformation – released new, improved, or acquired digital products and services Marketing Environment • Outside forces that affect marketing management’s ability to build and maintain successful relationships with target customers • Microenvironment: actors close to the company that affect its ability to serve its customers • Macroenvironment: larger societal forces that affect the microenvironment Actors in the Microenvironment • The company • Suppliers • Marketing intermediaries • Competitors • Publics • Customers Major Forces in the Company’s Macroenvironment • Demographic • Economic • Natural • Technological • Political • Cultural Demographic Environment • Demography: study of human populations in terms of size, density, location, age, gender, rare, occupation, and other statistics • Marketers analyze: ➢ Changing age and family structures ➢ Geographic population shifts ➢ Educational characteristics ➢ Population diversity Economic Environment • Economic factors that affect consumer purchasing power and spending patterns: ➢ Industrial economies ➢ Subsistence economies ➢ Developing economies • Changes in consumer spending • Differences in income distribution Natural Environment • Physical environment and natural resources needed as inputs by marketers or affected by marketing activities ➢ Environmental sustainability concerns have grown steadily over the past three decades • Trends: ➢ Shortages of raw materials ➢ Increased pollution ➢ Increased government intervention Technological Environment • New technologies create new markets and opportunities ➢ Radio-frequency identification (RFID) is technology to track products through various points in the distribution channel • Government agencies investigate and ban potentially unsafe products Political Environment • Forces that influence and limit various organizations and individuals in a society ➢ Laws, government agencies, and pressure groups • Goals of enacting business legislation: ➢ Protect companies from each other ➢ Protect consumers from unfair business practices ➢ Protect the interests of society against unrestrained business behavior Major U.S. Legislation Affecting Marketing • Sherman Antitrust Act (1890): ➢ Prohibits monopolies and activities that restrain trade or competition in interstate commerce • Federal Food and Drug Act (!906) Food and Drug Administration (FDA): ➢ Forbids the manufacture or sale of adulterated or fraudulently labeled foods and drugs • Clayton Act (1914): ➢ Prohibits types of price discrimination, exclusive dealing, and typing clauses • Federal Trade Commission Act (1914) Federal Trade Commission (FTC): ➢ Monitors and remedies unfair trade methods • Robinson-Patman Act (1936): ➢ Establishes limits on quantity discounts ➢ Forbids some brokerage allowances ➢ Prohibits promotional allowances except when made on proportionately equal terms • Wheeler-Lea Act (1938): ➢ Makes deceptive, misleading, and unfair practices illegal ➢ Places advertising of food and drugs under FTC jurisdiction • Lanham Trademark Act (1946): ➢ Protects and regulates distinctive brand names and trademarks • National Traffic and Safety Act (1958): ➢ Provides for the creation of compulsory safety standards for automobiles and tires • Fair Packaging and Labeling Act (1966): ➢ Provides for the regulation of the packaging and labeling of consumer goods ➢ Requires that manufacturers state what the package contains, who made it, and how much it contains • Child Protection Act (1966): ➢ Bans the sale of hazardous toys and articles ➢ Sets standards for child-resistant packaging • Federal Cigarette Labeling and Advertising Act (1967): ➢ Requires that cigarette packages contain a warning statement • National Environmental Policy Act (1969): ➢ Establishes a national policy on the environment • Consumer Product Safety Act (1972) consumer product safety commission
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