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MKTG 301: Week 3 Notes

by: Alicia Polcha

MKTG 301: Week 3 Notes MKTG301

Marketplace > Marketing > MKTG301 > MKTG 301 Week 3 Notes
Alicia Polcha
Penn State
GPA 4.0

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About this Document

These notes cover all of of Week 3, Chapter 3: Analyzing the Marketing Environment.
Intro to Marketing
Dr. Zina Taran
Class Notes
Marketing 301, MKTG 301, MKTG, Business Marketing, Chapter 3 MKTG, Analyzing the Marketing Environment
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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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