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Busi 141 external environment ppt

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A presentation on the external environment and competitor analysis.

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Busi 141 external environment ppt

  1. 1. THE EXTERNAL ENVIRONMENT Principles of Marketing BUSI 141 | Professor Conrad Solomon, M. B., Marshall, G. W., & Stuart, E. W. (2016). Marketing: Real People, Real Choices (8th ed.). Boston: Pearson Education, Inc.
  2. 2. WHAT WE WILL DISCUSS TODAY • Economic Environment • Competitive Environment • Technological Environment • Political and Legal Environment • Sociocultural Environment 2
  3. 3. THE ECONOMIC ENVIRONMENT PAGES 39 – 42 • Overall health of development • Gross Domestic Product (GPD) • Foreign Exchange Rate • Overall level of development – Standard of Living • Least developed country (LCD) • Developing countries • Developed countries • Stage of business cycle 3
  4. 4. 4
  5. 5. THE COMPETITIVE ENVIRONMENT PAGES 43 – 44 • Analyze the market and competition • Microenvironment • Discretionary income • Product competition • Brand competition • Macroenvironment • Monopoly • Oliogopoly • Monopolistic competition • Perfect competition 5
  6. 6. THE TECHNOLOGICAL ENVIRONMENT PAGES 44 • Internet is the biggest change • Social Media usage • Automated inventory control (RFID) Continuously search for ideas and trends 6
  7. 7. SOCIOCULTURAL ENVIRONMENT PAGES 47 – 49 • Demographics • Cultural Values • Collectivist cultures • Individualist cultures • Social Norms • Language • Consumer Ethnocentrism 7
  8. 8. THIS WEEK’S ASSIGNMENTS • Journal Entries #3 and #4 • Competitor analysis • Identify 2 - 3 competitors in your city • Organization • Location • Products and services • Check newspapers, websites and more • SWOT Analysis • For your store and product • List at least for each part of the SWOT • MML Simulation – Consumer Behavior (Wait until next week) 8

A presentation on the external environment and competitor analysis.

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