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CH 3.docx

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University of Toronto Scarborough
Management (MGM)
Tarun Dewan

CH 3: Analyzing the Marketing Environment  Marketing Environment- The actors and forces outside marketing that affect marketing management„s ability to build and maintain successful relationships with target customers.  Marketers have 2 disciplined methods to track environmental trends and opportunities- marketing research and marketing intelligence- for collecting information about the marketing environment.  Marketing environment  made up of microenvironment & macroenvironment  Microenvironment- The actors close to the company that affect its ability to serve its customers- the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.  Macroenvironment- The larger societal forces that affect the microenvironment- demographic, economic, natural, technological, political, and cultural forces.  Opportunities and threats.  Marketing Intermediaries- Firms that help the company promote, sell, and distribute its goods to final buyers. Ie. Distribution firms, marketing service agency, financial intermediaries  Reseller: distribution channel firms that help the company find customers or make sales to them  Public- Any group that has an actual or potential interest in or impact on an organization‟s ability to achieve its objectives. 1. Financial Publics: influences the company‟s ability to obtain funds 2. Media Publics: carries news, features, and editorial opinion 3. Government Publics: marketers must often consult the company‟s lawyers on issues of product safety, truth in advertising, and other matter. 4. Citizen-action publics: Company‟s public relations department must deal with consumer organizations, environmental groups, minority groups, etc. 5. Local Publics: neighbourhood residents and community organizations community relations officer 6. General Public: public image 7. Internal Publics: workers, managers, volunteers and board of directors.  Customers: 5 markets 1. Consumer markets individuals and households that buy goods and services for personal consumption 2. Business markets for further processing or for use in their production process 3. Reseller markets resell at a profit 4. Government markets to produce public services or transfer goods and services to those who need it. 5. International markets buyers of other countries, including consumers, producers, resellers, gov.  Demography- The study of human populations in terms of size, density, location, age , gender, race, occupation, and other statistics.  Track changing age and family structure, geographic population shifts, educational characteristics, and population diversity.  Baby boomers- The 9.8 million Canadians born during the baby boom following World War II and lasting until the mid- 1960s.  Lucrative market for financial services, new housing and home remodelling, travel and entertainment, eating gout, health and fitness products  Generation X- The 7 million Canadians born between 1967 and 1976 in the “birth dearth” following the baby boom.  More cautious economic outlook  Behind in saving for retirement  Family comes first, career second  Millennials (or Generation Y)- The 10.4 million children of the Canadian baby boomers, born between 1977 and 2000.  Diverse group know technology really well  Growing number of non-traditional families  Geographic shifts in population interprov
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