marketing exam 1-chapter 3

includes the “actors” close to a company
involves larger societal forces
environmental forces
-organization (marketing department, other departments, employees)
environmental forcess
-social (demographic shifts, cultural changes)
-economic( macroeconomic conditions, consumer income)
-competitive (alternative forms of competition, types of competition, increasing foreign competition)
-technological (changing technology, ecological impact of technology)
-regulatory (laws protecting competition, laws affecting marketing mix actions, self regulation, consumerism)
actors in microenvironment
marketing-> the company, suppliers, marketing intermediaries, competitors, publics, customers
match game- finance
finds the money to carry out the marketing plan
matching game- accounting
measures revenues and costs and keeps marketing on track with objectives
matching game-management
sets the mission and objectives
match game- operations
produces and distributes the product
match game- purchasing
obtains supplies and materials
match game-R&D
designs the product
microenvironment- suppliers
important link in overall customer value delivery system; provide resources needed to produce goods and services; treated like partners in creating and delivering customer value
modern marketing system
suppliers->company (marketer) and competitors-> marketing intermediaries-> final users
marketing intermediaries
help company promote, sell, and distribute goods to final buyers (resellers, physical distribution firms, marketing services agencies, financial intermediaries)
consumer, business, reseller, government, international
marketers seek to gain strategic advantage against competitive organizations; size of firm and industry position will influence choice of strategy
competitor clusters
fast food- small # of items, low price
fast casual- decent amount # items, decent price
casual dining-various items, medium price
upscale restaurants- middle # items, high price
any group that has an actual or potential interest in or impact on an organization’s ability to achieve its objectives
types of publics
financial, media, government, citizen-action, local, general, internal
actors in the macroenvironment
company->demographic, economic, natural, technological, political, cultural
study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics
demographic trends- age structure
population is getting older
** the single most important demographic trend
demographic trends-family structure
marrying later, fewer children, working women, non-family households
demographic trends-geographic shifts
moving to the sunbelt and suburbs
demographic trends-education level
increased college attendance and white collar workers
demographic trends- ethnic and racial diversity
65% caucasian, 13% black, 16% hispanic, 6% asian & pacific islander
born before 1946
baby boomers
between 1946 and 1964
wealthiest generation in history (50% spending and 3/4 nations financial assets)
think they are young
generation x
between 1965 and 1976
increased parental divorce rates
more employed mothers
less materialistic
most educated
spend carefully, face economic pressures (many in debt or behind in saving for retirement)
Schwab’s “talk to chuck” (approach to savings)
generation y (boomlet, echo-boomer, millenials)
after 1976
tweens, teens, young adults
ethnically diverse
fluent digital technology
personalization and product customization
factors that affect buying and spending of consumers
developed/emerging/subsistence economics, inflation/recession, index of consumer sentiment, income trends, engels law, share of spending
natural environment key trends
shortages of raw materials, increased pollution, increased government intervention
technological environment
technology is the most dramatic force shaping our destiny; changes rapidly (creating new markets and opportunities/threats) gov. ban unsafe products and set safety standards (higher costs, longer time to make)
political environment
laws, gov. agencies, and pressure groups that influence or limit various organizations and individuals;
increasing legislation, changing gov. agency enforcement, increased emphasis on ethics & socially responsible behavior
cultural environment
core beliefs and values are passed on from parents to children and are reinforced by schools, churches, businesses, and government; secondary beliefs and values are more open to change
key cultural trends-view of themselves
identify with brands for self-expression
key cultural trends-view of others
shift from me to we attitudes, less materialism, and self indulgence
key cultural trends- view of organizations
decline in trust and loyalty to companies
key cultural trends- view of socity
increasing patriotism
key cultural trends- view of nature
trend toward coexistence with environment
key cultural trends- view of universe
diminishing religious observance; increasing spirituality
responding to marketing environment
reactive vs. proactive management
proactive responses
hiring lobbyisys, running advertorials, pressing lawsuits, filing complaints with regulators, forming agreements to control channels

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