Lecture 3 - Marketing Environment Flashcards
What is the marketing environment?
The actors and forces internal and external to marketing management function.
-Affects ability to maintain successful transactions with target customers
-Constantly changing
Marketing managment needs to constantly monitor environment
Two types of marketing environments
Micro-environment - immediate - close forces/actors
Macro-Environment - distant actors or forces
Examples of Micro-Environemnt
Company Suppliers Marketing Intermediaries Physical Distribution Firms Marketing Service Agencies Financial Intermediaries Customers Competitors Publics
Micro Environment: Company
Manamgenet, finance, R&D
Goals/concerns
Strengths weaknesses
Micro Environment:Suppliers
What price will they charge Quality of materials? Are materials available Where located Dependable? One or more suppliers?
Micro Environment: Marketing intermediaries
Wholesalers/retailers
Who has power?
Reputation?
How easy to get shelf space?
Micro Environment: Physical distribution firms?
Warehouses Cost for storage Fast delivery? Where located? Products Safe?
Micro Environment:Marketing Service Agents
Research and advertising agencies Experience/reputation? Services cost? Serve competition? Do internally?
Micro Environment: Financial intermediaries
Provide financing
Cost of borrowing/insurance?
Micro Environment: Customers
Who are they Needs/Wants? Who does purchasing? Who influences decision? Where do they prefer to purchase? How do they prefer to purchase? How make purchase decision?
Micro Environment: Competitiors
Direct competitors? Indirect competitors? How big are they? What are their strengths and weaknesses? How much of a threat? What will be their marketing efforts?
Micro Environment:Publics
Group that has an actual potential impact on our ability to achieve marketing objectives
Examples of Macro-Environment
Demographic Environment Geographic Environment Economic Environment Natural Environment Technological Environment Political/Legal Environment Social/Cultural Environment
Macro-Environment: Environment
What changes in local/regional/national/international populations are taking place?
Macro-Environment: Geographic Environment
Are their changes in the location of our present potential target markets?
Macro-Environment: Economic Environment
What is the state of the present and future economy
Macro-Environment: Natural environment
what is cost of raw materials How reliable is source of raw materials Are there other sources of raw materials What is cost of energy Will marketing efforts harm the natural environment
Macro-Environment: Technological environment
What changes happening with tech?
How fast is change?
Macro-Environment: Political Environment
How stable is political climate?
Will there be change in government?
Will a change in gov affect marketing efforts?
Our industry regulated?
Macro-Environment: Social/Cultural Environment
Have Societal/cultural values changed?
Will they change?
Are there subcultures?
Different social/cultural values in different regions/countries?
What is SWOT analysis?
Strengths
Weaknesses
Opportunities
Threats
SWOT:Strengths
Internal to company
What do we do well in
Internal competencies
SWOT: Weaknesses
Internal to company
What do we do poorly/weak in?
SWOT:Opportunities
External to company
Usually have little to no control over this
Happening in environment
Take advantage of this opportunity
SWOT:Threats
External
Little to no control
What is happening in environment that can be a threat to our marketing efforts
