W3 - Analysing the environment Flashcards
Who are the actors in the micro-environment?
- The company
- Suppliers
- Intermediaries
- Publics
What are publics?
Any group that has an actual or potential interest in or impact on an organisation ability to achieve its objectives
What is an intermediary?
Business that helps the company to promote, sell and distribute its products to final buyers
What are the types of competition?
- Brand competition (direct competition)
- Product competition (indirect competition)
What are the five types of customer markets?
- Consumer markets
- Business markets
- Reseller markets
- Government markets
- International markets
What does the macro environment shape?
The possible opportunities and threats posed to the organisation
What are the 6 major forces in the macro environment for a business to consider?
- Demographic
- Economic
- Natural
- Technological
- Cultural
Why must marketers by conscious of the environmental aspects?
The environment changes over time and marketers must be dynamic to adapt to the changing market
What stats are best to look at for demographic statistics?
ABS statistics
What does the cultural environment consist of?
The cultural environment is made up of institutions and other forces that affect a society’s basic values, perceptions, preferences and behaviours
What is an important consideration about cultural values?
Primary cultural forces often persist from generation to generation whereas secondary cultural values may swing (eg. vintage shopping)
What is important for marketers to consider when assessing the cultural environment?
People’s view of themselves, society and nature
What does analysis of the environment help do?
It is the first step in building the marketing plan
What is key to keep in mind regarding trends?
The better the trends you identify, the better your ideas are going to be
