COMM 223 Chapter Notes - Chapter 3: Economic Forecasting, Marketing Management, Business Process
12 Dec 2016
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Marketing management must take other departments into consideration, such as finance, operations, r&d, etc. Marketing decisions must relate to broader company goals and strategies: the suppliers. Marketers must treat their suppliers in creating and delivering customer value. Marketers must keep an eye on product availability and pricing: marketing intermediaries. Help the company promote, sell and distribute its products to final buyers. It can be for customers, businesses, resellers or governments: the competitors. The study of human populations in terms of size, density, location, age, gender, race and occupations. Marketers analyze changing age and family structures, geographic population shifts, population diversity, education, etc: economic environment. Economic factors that affect consumer purchasing power and spending patterns. Three types of economies that will influence resources to work with: industrial economies: rich markets for different goods, subsistence economies: consume must of their own agricultural and industrial output. There are few market opportunities: developing economies: offer outstanding marketing opportunities for the right kinds of products.
