Textbook Notes (369,198)
Canada (162,457)
Management (865)
MGT252H5 (9)
Chapter 3

MGT252 - Chapter 3 Notes.doc

5 Pages
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Department
Management
Course Code
MGT252H5
Professor
Matthew Osborne

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Description
Chapter 3 • 3.1 • Marketing env. The actors and forces outside marketing that affect marketing management’s • ability to build and maintain successful relationships with target customers. • Microenvironment • Consists of the actors close to the company. Microenvironment Company Suppliers • Watch for supply availability and costs • Supply shortages, delays, strikes etc. can cost sales in S-R and damage customer satisfaction in L-R. • Rising supply costs may cause price increase --> decrease sales volume Marketing Intermediaries • Firms that help the company promote, sell and distribute its goods to final buyers. Resellers • Distribution channel firms that help the company find customers or make sales to them. E.g. wholesalers and retailers Physical distribution firms • Help the company stock and move goods from points of origin to destinations. Marketing services agencies Financial intermediaries • Banks, credit companies, insurance companies etc. that help finance transactions or insure against the risks associated with the buying and selling of goods. Competitors • Gain strategic adv. by positioning their offerings strongly against competitors’ offerings in the minds of consumers. Microenvironment Publics • Any group that has an actual or potential interest in or impact on org.’s ability to achieve its objectives. Financial publics • Influences the company’s ability to obtain funds. Media publics Government publics • Management must take gov. developments into account. • Marketers must often consult with lawyers on issues such as product safety, truth in advertising etc. Citizen-action publics (activists) Local publics • Neighborhood residents and community org. General publics Internal publics • Workers, managers, volunteers, board of directors etc. Customers Consumer markets • Ind. and households that buy g+s for personal consumption Business markets • Buy g+s for further processing or for use in their production process Reseller markets • Buy g+s to resell at a profit Government markets • Govt. agencies that buy g+s to produce public services or transfer the g+s to others who need them. International markets • All of the above but in foreign country. • 3.2 • Demography • The study of human populations in terms of size, density, location, age, gender, race, occupation etc. Demography Baby Boomers • Canada’s: 1947-1966; USA’s: 1946-1964 • Not a worldwide phenomenon, e.g. Europe and Japan • Not phasing out, as they are retiring later and working more after retirement. Generation X • 1967-1976 (“birth dearth”) • Lie in the shadow of the boomers and lack obvious distinguishing characteristics. • First generation of latchkey kids: high parental divorce rates and unemployment • Grown up during recession and corp. downsizing --> cautious eco. outlook Skeptical bunch --> less receptive to overt marketing pitches • • Behind in retirement saving • Despite debts or tight budgets, they can’t think about saving. • Care about env. and socially responsible companies. • Ambitious, but less materialistic; prefer experience to acquisition Family oriented • Generation Y / Millenials • 1977-2000 • Includes tweens, teens and young adults • Racially diverse Fluency with technology • • Consumers for communication gadgets Generational Marketing • Economic env. • Factors that affect consumer buying power and spending patterns
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