#3 Market Environment Flashcards
The marketing firm must consider the entire business process from…
consumer’s point of view
In the middle center goes…
Customers
Microenvironmental factors
factors that affects the consumer is the firm itself
1. company’s capabilities
2. corporate partners
3. competition
Macroenvironmental factors
that operate in the external environment
CDSTEP
CDSTEP
- culture
- demographics
- social trends
- technology
- economics
- political/legal
Types of competition
- direct
- indirect
- market place
Direct competition
same product, same need
Coca cola & Pepsi
Indirect competition
different product, same need
Airbnb & Hotel
Market place competition
different product, different need
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The culture influences…
what, why, how, where and when 2 buy things
Culture Blunders
cuando la gente la caga en otro país
Pepsi en Japón
Generational Cohort
same purchase behaviours because they share experiences in the same stage of their lives.
Economic Situation like…
recession, inflation, pandemic
Social trends
are changes in the behaviors, attitudes, and lifestyles of the population that can significantly influence consumer preferences and market demands
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What is green mkt?
Businesses aligning their strategies with environmental concerns
