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Department
Marketing
Course
MKT 300
Professor
Frank Miller
Semester
Fall

Description
Chapter302142013Chapter3AnalyzingtheMarketingEnvironmentMicroenvironmentalFactors1CompanyCapabilitiessuccessfulcompaniesshouldworktosatisfycustomerneedsthatmatchtheircorecompetenciesusingaSWOTanalysistorecognizetrendsamongconsumers2CompetitiongreatercompetitionmeansmorebuyingpowerforconsumersmoreoptionscompetitiveintelligenceCIusedbyfirmstocollectandsynthesizeinfoabouttheirpositionwithrespecttorivalsenablescompaniestoanticipatechangesinthemarketplaceratherthanmerelyreacttothemreviewpublicmaterialswebsitespressreleasesindustryjournalsannualreportsetcinterviewcustomerssupplierspartnersformeremployeesanalyzearivalsmarketingtacticsdistributionpracticespricingandhiringneeds3CorporatePartnerspartiesthatworkwiththefocalfirmareitspartnersieFordusessuppliersofsheetmetaltiremanufacturersunionstransportcompaniesetcsocialtrendslikegoinggreencanpromptcompaniestoworkmorecloselywiththeirpartnerstoinnovateexNauMacroenvironmentalFactors1Culturesharedmeaningsbeliefsmoralsvaluesandcustomsofagroupofpeoplecomprisedofnationalculturesregionalsubculturesworkplaceschoolculturesandfamilyculturalheritagemarketingmustbetailoredtoacompaniestargetmarketacrossvariousdifferentcountryculturesietakeintoaccountlanguagedifferences2DemographicscharacteristicsofhumanpopulationsandsegmentsespeciallythoseusedtoidentifyconsumermarketsieagegenerationalcohortgenderincomeraceethnicityprovideaneasilyunderstoodsnapshotofthetypicalconsumerinaspecifictargetmarketbuyingpowervaluesandtrendsdifferacrossdifferentdemographicshugebuyingpowerspendonfoodelectronicsandclothingstillconsultparentswhenmakingTweenspurchasestechnologyisnotanoveltyforthemrequireinnovativemarketingtoengageecoboomgenerationmorebrandawareskepticalaboutmediainternetandtechsavvystrongGenYemphasisonlifeworkbalanceage3647firstgenerationtogrowupwithtwoworkingparentsexperiencedeconomicrecessionGenXmorelikelytobeunemployedhavedebttraveltheworldandmovefarawayfromtheirparentslargespendingpowermorecynicalandlessinterestedinshoppingbestmarketingforthemcomesfromwordofmouthage4866individualisticleisuretimeisahighpriorityfeeleconomicallysecureBabyboomersobsessionwmaintainingtheiryouthbothattitudeandappearanceage65likelytocomplainandneedspecialattentionspendtimebrowsingbeforebuyingSeniorsspendontravelluxurycarselectronicequipmentinvestmentshomefurnishingsandclothinghaventembracedecommerceprefertobuyqualityoverquantity3SocialTrendsconsumersareconcernedabouteverythingfromthepurityofairandwatertothesafetyofbeefgreenandsalmongoodopportunitiesforcompaniestobesociallyresponsibleandimplementgreeninitiativesnewproductsmadeofrecycledmaterialsarebeingdevelopedandmarketedconcernsaboutchildhoodobesitymarketingtochildrennewrestrictionsandregulationsaboutwhatfoodadvertisementscancontainandwhentheyareallowedtobeairedienotallowedtolinkunhealthyfoodswcartooncelebrityfiguresexBurgerKingandSpongebobSquarePantsconsumersthinktheyreexperiencingalossofprivacyprivacyconcernsnewmarketforcreditcardandidentitytheftprotectionprogramsbusyschedulesallowlesstimetoreachconsumerstimepoorsocietyconsumershavemorefreedomtoprogramandrecordshowswithPVRsetcandcannowfastforwardthroughcommercialsmoremultitaskingmeansconsumersarepayinglessattentiontothemessagesmarketersaretryingtosendthereforemarketersmustinnovateandfindnewandmorecreativewaysofreachingtheirtgtmarkets4TechnologicalAdvancesimprovedvalueofproductsandservicesincreasingthequalityoflifeforconsumersbettertrackingsystemsintheretailindustryhelpindetermininginventoryneedsandcommunicationbetweenallareasofthesupplychainnewproductsandtechnologyplatformsiesocialmediaprovidenewopportunitiesandchannelsformarketerstoutilizetoreachconsumers5PoliticalLegalEnvironmentpoliticalpartiesgovtorganizationslegislationandlawsthatpromoteorinhibittradeandmarketingactivitiespromotionoffairtradeandcompetitiontoprohibittheformationofmonopoliesthatcoulddamageacompetitivemarketplacelegislationhasbeencreatedtoprotectconsumersagainstfalseadvertisinghazardousmaterialsinproductsLECTUREingroupsresearchwhatthingshaveanimpactontheSmartphoneindustryPrulesregulationsEeconomicSmillennialgrowthratesfastestgrowingportionofthepopulationaffectingtheSmartphoneindustryTtechissuesandtrendsimpactingtheSmartphoneindustry
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