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MGMA01H3 (184)
Chapter 3&5

Chapter 3&5.docx

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Department
Management (MGM)
Course
MGMA01H3
Professor
Alison Jing Xu
Semester
Fall

Description
Chapter 3 Xerox: the world had quickly gone digital and Xerox had not kept up. While Xerox was busy perfecting copy machines, customers were looking for more sophisticated document. Even the most dominant companies can be vulnerable to changing marketing environments. Marketing environment: the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationship with target customers Microenvironment: the actors close to the company that affects its ability to serve its customers The company, suppliers, marketing intermediaries, competitors, publics, customers Microenvironment: the larger societal forces that affect the microenvironment Demographic, economic, natural, technological, political, and cultural forces Demographic: baby boomers (9.8m, born 1946-1964, a third of population, 40% workforce, half of income, creating a diverse set of target segments for business Generation X (49m, born 1965-1976) Generation Y (20% of population, 1977-1994) Responding to the marketing environment Marketing environment is uncontrollable and companies have to react and adapt to it. Being proactive: taking actions to affect the public and forces in their marketing environment\ Some of the demographic trends of interest to marketers in Canada: 1. The changing age structure of the population 2. The changing Canadian family 3. Geographic shifts in population 4. More white-collar, more professional population 5. Increasing diversity For example, the changing age structure of the population may be an opportunity for industries such as health care, financial services, and recreational vehicles because older Canadians experience a greater need and demand for these types of products and services. Conversely, the trend toward an older population poses a threat to organizations and businesses catering to a younger demographic, such as day-care centers, schools, and the entertainment industry. Economic environment: for example, a high Canadian dollar is good for Canadians travelling abroad, but a threat for Canadian manufacturers who find they are having trouble being price competitive in foreign markets. Chapter 5 Marketing information system: people and procedures for assessing information needs, developing the needed information, and helping decision makers to use the information to generate validate actionable customer and market insights Internal database: elec
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