MKT 100 Chapter Notes - Chapter 3: Baby Boomers, Green Marketing, Millennials
28 Jun 2018
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MKT Chapter 3 - Analyzing the Marketing Environment
Consumers are directly affected by the firm’s microenvironment and indirectly by
the macroenvironment
One of the goals of value-based marketing is to provide greater value to consumers
that competitors offer
Marketing firm is required to look at entire business process through
consumers point of view
Microenvironmental Factors
Company Capabilities
oSatisfying customer needs that match core competencies
oUse analysis of external environment to categorize an opportunity to
asses it relative to the firm’s existing competencies
Competition
oMore competition means more choices for consumers, influences
buying decisions
oCritical firm’s understand their competitors
oCompetitive intelligence (CI) - used by firms to collect and
synthesize information about their position with respect to their
rivals; enables companies to anticipate changes in the market place
rather than merely react to them
Corporate Partners
oParties that work with the focal firm are corporate partners
Macroenvironmental Factors
Culture - the shared meanings, beliefs, values, morals and customs of a group
of people
oChallenge for marketers to have products identifiable by and relevant
to a certain group of people
oCountry culture - entails easy-to-spot visible nuances that are
particular to a country
oRegional subculture - the region in which people live in a particular
country affects the way they react to different cultural rituals or
product category
Demographics - characteristics of human populations and segments,
especially those used to identify consumer markets
oage, gender, income, race, ethnicity, and education
odemographics provide an easily understood ‘snapshot’ of the typical
consumer in a specific target market
oGenerational cohort - a group of people of the same generation -
typically have similar purchase behaviours because they have shared
experiences and are in the same stage of life
find more resources at oneclass.com
find more resources at oneclass.com
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