Bmgt 205 chapter5

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Bmgt 205 chapter5

  1. 1. BMGT 205: Chapter 5 Analyzing the 
 Marketing Environment
  2. 2. Learning Objectives LO1 LO2 LO3 LO4 Outline how customers, the company, competitors, and corporate partners affect marketing strategy. ! Explain why marketers must consider their macroenvironment when they make decisions. ! Describe the differences among the various generational cohorts. ! Identify various social trends that impact marketing.
  3. 3. A Marketing Environment 
 Analysis Framework Culture Social Trends Company Consumers Demographics Political/
 Legal Immediate Environment Competition Economic Corporate
 Partners Macroenvironment Technology
  4. 4. A Marketing Environment 
 Analysis Framework Company Consumers Immediate Environment Competition Corporate
 Partners
  5. 5. Successfully Leveraging 
 Company Capabilities Core competency Existing knowledge, 
 facilities, patents, etc. applied to New markets, 
 new products, etc.
  6. 6. Aqaufina Launches Flavorsplash Targeting Teens http://adage.com/article/cmo-strategy/ aquafina-introduces-products-targetingteens/244473/
  7. 7. Competitors Know strengths & weaknesses Proactive rather than reactive strategy
  8. 8. Corporate Partners Firms are part of alliances Align with competitors, suppliers, etc. Just in Time Delivery Systems (JIT) From factory to Retailer
  9. 9. Soap and Diapers . com (Quidsi, Inc) http://www.youtube.com/watch? v=6zXOW6v0c8s
  10. 10. CHECK YOURSELF 1. What are the components of the immediate environment?
  11. 11. Macroenvironmental Factors Culture Social Trends/Issues Economic Demographics Consumers Political/
 Legal Technology
  12. 12. 1. Culture Country Culture vs. Regional Culture
  13. 13. 2. Demographics Provides an easily understood snapshot 
 of the typical consumer in a specific target market
  14. 14. Generational Cohorts The Greatest Generation, Born 1901-1924 (early) 1924-1943 (later):  Grew up, and frequently were defined by their experiences growing up, during The Great Depression and World War 2. Baby Boomers, 1946-1964: They're rapidly getting older and retiring, and not all of them have saved up enough to be able to do so. The fact that many in this generation led the institutions that caused the current financial crisis didn't help.  Gen X, 1965-1981: Gen Xers are more likely to be independent and value their own career over organizations. They value autonomy and freedom at their jobs, and are not as work-centric as older generations.  Millennials, 1982 - 2004: Grew up during a time of economic prosperity, then many entered the workforce during a recession. Surrounded by the rapid advance of technology, particularly the Internet.
  15. 15. http://www.census.gov/acs/ www/
  16. 16. Income Purchasing power is tied to income Many middle class families feel the decline in purchasing power in recent years
  17. 17. Education Education is related to income, 
 which determines spending power
  18. 18. Gender Male/female roles have been shifting Marketing has changed to reflect these shifts
  19. 19. The Changing American Family http://familiesproject.bettycrocker.com
  20. 20. Ethnicity By 2050, minorities will represent 50% of the population.
  21. 21. Thrift Health and Wellness Concerns Privacy Concerns Greener Consumers Time-Poor Society 3. Social Trends
  22. 22. Additional Trend: Sharing
  23. 23. 4. Political/Regulatory Environment: 
 Competitive Practice and Trade Legislation 1890: Sherman Antitrust Act 1914: Clayton Act Sherman: Protected against monopolies and anti competition 1914: Federal Trade Commission 1936: Robinson-Putman Act 1938: Wheeler-Lea Act 1993: North American Free Trade Agreement (NAFTA) Clayton: Supplemented Sherman, and included pricing protection FTC: Principle Mission is to Protect Consumers
  24. 24. 4. Political/Regulatory Environment: 
 Competitive Practice and Trade Legislation 1890: Sherman Antitrust Act 1914: Clayton Act 1914: Federal Trade Commission Robinson-Putnan: Price Descimination Wheeler-Lea: Further Protection to Consumers, including protection from deceptive ads 1936: Robinson-Putman Act 1938: Wheeler-Lea Act 1993: North American Free Trade Agreement (NAFTA) NAFTA: Eliminated Barriers of Trade between the US, Canada, and Mexico
  25. 25. 5. Economic
  26. 26. Economic
  27. 27. 6. Technology
  28. 28. 1. 2. 3. 4. What are the six key macroeconomic factors? Differentiate between country culture and regional culture. Identify the different generational cohorts. What are some important social trends shaping consumer values these days?
  29. 29. Key Terms to Know
  30. 30. Key Terms Country culture involves visual nuances of a country’s culture such as artifacts, behavior, dress, symbols, physical settings, ceremonies, language differences, colors and tastes, and food preferences, as well as language. Culture is the shared meanings, beliefs, morals, values, and customs of a group of people.
  31. 31. Key Terms Demographics indicate the characteristics of human populations and segments, especially those used to identify consumer markets.Culture is the shared meanings, beliefs, morals, values, and customs of a group of people. A generational cohort is a group of people of the same generation. The political/regulatory environment comprises political parties, government organizations, and legislation and laws.

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