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Marketing > Marketing Environment > Flashcards

Marketing Environment Flashcards

1
Q

Customer Analysis

A

E.g. exfoliating face wash have small plastic beads but negatively impact environment, customers wanted something for environmentally friendly

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2
Q

• Competitor Analysis

A
  • E.g. competitor drops price = respond by dropping price = price war
    - Or add value to your product
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3
Q

External Analysis

A

Customer Analysis
Competitor Analysis
Market/submarket Analysis
Environmental Analysis

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4
Q

Internal Analysis

A
  • Performance Analysis

* Determinants of strategic options

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5
Q

What do external Analysis and Internal analysis

A
  • Market Strategy Options (does it see threats, opportunities/ read data well/ organisation where innovation is encouraged?)
  • Leads to Preferred marketing strategy and implementation
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6
Q

Helicopter Vision

A
  • Describes the ability to view from on high a situation and to see in sharp outline the right “big picture.”
    - Broader trends and opportunities happening the market which can impact marketing strategies
    • Another analogy way an eagle flies high with extremely keen vision to spot what is really going on at ground level.
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7
Q

SWOT Analysis

A 
Internal
	- Strengths
	- Weaknesses
External
	- Opportunities
	- Threats
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8
Q

PESTLE

Political

A 
Government Policies
Trade Agreements
Corruption
Bureaucracy
Regulation
Governance
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9
Q

PESTLE

Economic

A 
GDP
Cost of living
Inflation
Taxes and Duties
WTO/ Free Trade
Globalization
Finances & credit
Government Policies
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10
Q

PESTLE

Social

A 
Social mobility
Social class
Demographics
Ethics and religion
Education
Lifestyle
Cross-cultural communication
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11
Q

PESTLE

Technological

A 
Changing technologies
Computer calculation speed/power
Internet connectivity
Wireless charging
Contactless payments
Automation
Security in cryptography etc.
Social media
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12
Q

PESTLE

Legal

A
  • Consumer law
    • Discrimination law
    • Copyright law
    • Health and safety law
    • Employment law
    • Fraud law
    • Import/ export law
      Protection of intellectual property
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13
Q

PESTLE

Environmental

A
  • Climate
  • Climate change
  • Weather
  • Pollution
  • Availability of renewable goods
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14
Q

Competitor analysis

Porters Five Forces (1980’s)

A 
Suppliers
New Entrants
Substitutes
Customers
Industry Rivalry
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15
Q

Challenges of stakeholder theory

A
  • To balance the needs of stakeholders
  • To understand power and interest of different stakeholders
  • To create win-win outcomes
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16
Q

Zero-sum competition

A

• To gain market share, have to take it from someone else

17
Q

Stakeholder

A

any group of individuals who can affect or is affected by the achievement of an organizations objectives

Marketing (16 decks)

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