MKTG 301: Week 3 Notes
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This 3 page Class Notes was uploaded by Alicia Polcha on Thursday January 28, 2016. The Class Notes belongs to MKTG301 at a university taught by Dr. Zina Taran in Spring 2016. Since its upload, it has received 22 views.
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Date Created: 01/28/16
MKTG 301: Chapter 3: Analyzing Marketing Environment 1. Marketing Environment: actors/forces outside marketing affecting management’s ability to build and maintain successful relationships with target customers a. Includes: i. Microenvironment: forces that are close to company that affect ability to serve customers ii. Macroenvironment: consists of broader forces that affect the actors in the microenvironment 2. Company’s Microenvironment: Internal Environment (Accoutning, Sales Dept.) a. Suppliers b. Marketing Intermediaries i. Firms that help the company to promote, sell, and distribute its goods to final buyers 3. Macroenvironment a. Major Forces in the Company’s Macroenvironment i. Demography 1. The study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics a. Changing Age Structure i. Population is aging ii. Generations X, Y, Z iii. Generation X 1. 49 million people (19651976) iv. Generation Y 1. 83 million people (19772000) v. Generation Z 1. People born after 2000 a. Kids, teens, and tweens b. Changing American Family i. Later marriages ii. Fewer children iii. Working women iv. Nontraditional households c. Geographic Shifts i. To the Sunbelt, suburbs, “micropolitan areas” d. BetterEducated & More WhiteCollar i. Increased college attendance e. Increasing Diversity f. On exam: What are the business opportunities with these sort of changes/trends? ii. Economic 1. Economic factors that affect consumer purchasing power and spending patterns 2. Industrial Economies: constitute rich markets for many different kinds of goods 3. Subsistence Economies: consumer most of their own agricultural and industrial output and offer few market opportunities 4. Developing Economies: can offer outstanding marketing opportunities for the right kinds of products iii. Natural 1. Natural Environment: the physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities a. Unexpected happenings in the environment, like weather and natural disasters 2. Environmental Sustainability: developing strategies and practices that create a world economy that the planet can support indefinitely 3. Example: The prices of gas, oil, and oil derivatives a. Because of environmental changes, prices fluctuate, what you can sell, how you can sell, ect. iv. Technological 1. Forces that create new technologies, creating new product and market opportunities v. Political 1. Laws, government agencies, and pressure groups that influence and limit various organizations and individuals in a given society 2. Government developed public policy a. Set of laws and regulations that limit business for the good of society as a whole b. Protects Companies & Consumers c. Protects the interest of society vi. Cultural 1. Cultural Environment: institutions and other forces that affect society’s basis values, perceptions, preferences, and behaviors a. Core Beliefs: passed on from parents to children and are reinforced by schools, businesses, religious institutions, and government b. Secondary Beliefs: values that are more open to change vii. Trend vs General State 1. Two different things 2. Trends: how it changes a. Example i. Demographics 3. General State: Political
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