ANALYZING THE MARKETING ENVIRONMENT
Chapter outline
The company’s Microenvironment
The company’s Microenvironment
Demographic environment
Economic environment
Natural environment
Technological environment
Political and Legal environment
Cultural environment
Responding to the Marketing environment
The Marketing environment
The actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationship with target customers
Analyzing method of environment
Internal & external environmental analysis
Micro & Macro environmental analysis
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Environmental scanning is the acquisition and use of information about events, trends, and relationships in an organization's external environment, the knowledge of which would assist management in planning the organization's future course of action.
For any business to grow and prosper, managers of the business must be able to anticipate, recognise and deal with change in the internal and external environment. Change is a certainty, and for this reason business managers must actively engage in a process that identifies change and modifies business activity to take best advantage of change. That process is strategic planning.
Environmental scanning is the acquisition and use of information about events, trends, and relationships in an organization's external environment, the knowledge of which would assist management in planning the organization's future course of action.
For any business to grow and prosper, managers of the business must be able to anticipate, recognise and deal with change in the internal and external environment. Change is a certainty, and for this reason business managers must actively engage in a process that identifies change and modifies business activity to take best advantage of change. That process is strategic planning.
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The whole effort is to support and uplift beginners in marketing who search essentials in marketing.
Reference Text - Principles of Marketing, 15th Edition, By Phillip Kotler and Gary Armstrong
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2. Analyzing the Marketing environment
Chapter outline
The company’s Microenvironment
The company’s Microenvironment
Demographic environment
Economic environment
Natural environment
Technological environment
Political and Legal environment
Cultural environment
Responding to the Marketing environment
The Marketing environment
The actors and forces outside marketing that affect marketing management’s ability to build and maintain
successful relationship with target customers
Analyzing method of environment
Internal & external environmental analysis
Micro & Macro environmental analysis
3. The company’s Microenvironment
The actors close to the company that affect its ability to serve its customers- the company, suppliers,
marketing intermediaries, customer markets, competitors and publics
Actors in the micro environment
The company
Top management, finance, R&D purchasing, operation and accounting
Affect the marketing department’s plan
4. Suppliers
Provide resources needed to produce goods and services
Important link in the value delivery system
Marketing intermediaries
Help the company to promote. Sell and distribute its goods to final buyers
Competitors
Those who serve a target market with similar products and services
Company must gain strategic advantage against these organizations
Publics
Groups that has an actual or potential interest in or impact on an organization’s ability to achieve
it’s objectives
Seven types of publics
Customers
Customers are the most important actors in the company’s micro environment
Five types of market
1. Consumer market
2. Business market
3. Reseller market
4. Government market
5. International market
The company’s macro environment
5. Fads, trend and mega trends
Fad- unpredictable, short-lived and without social, economic and political significance
Trend- A direction or sequence of events with momentum and durability, trends are more predictable and
durable than a fad; trends reveal the shape of the future and can provide strategic direction
Mega trends- Large social, economic, political and technological changes (that) are slow to form and once
in place, us for some time between seven and ten years or longer
Demographic Environment
Demography is the study of human population in terms of size, density, location, age, gender,race,
occupation and other statistic
Geographical changes
Age gender
Culture
Trends in demographic environment
Increasing population
Growing middle class
Growth in the rural population
6. A changing family system
The changing role of women
Better educated more white colored more professional population
Increasing diversity
Economic Environment
Economic environment consists of factors that affect consumer purchasing power and spending
patterns
Natural Environment
The natural environment involves the natural resources that are needed as inputs by marketers or that are
affected by marketing activities
Key areas of concern in the natural environment
Shortage of raw materials
Increased pollution
Increased government intervention
Environmental sustainability
Anti-pollution pressures
Increased energy costs
Technological Environment
Forces that create new technologies, creating new product and market opportunities
Technological trends
7. Accelerating pace of change
Unlimited opportunities for innovations
Varying R&D budgets
Increased regulation of technological change
Political-legal Environment
Laws, government agencies and pressure groups that influence and limit various organization and
individual in a given society
Trends in political & legal environment
Legislation regulating business
Increasing legislation
Changing government agency enforcement
New forms of nontariff barriers in trade
Growth of special interest groups
Social-cultural environment
Cultural environment
Institutions and other forces that affect society’s basic values, perceptions, preferences and behavior
Trends in the social-culture environment
Increased emphasis on ethics and socially responsible actions
- Socially responsible behavior
- Cause-related marketing
8. Persistence of cultural values
Shifts in secondary cultural values
Existence of subculture
The major cultural values of a society are expressed in people’s views of themselves and others as
well as in their views of organizations, society, nature and the universe
Marketing audit
Comprehensive, systematic, independence and periodic examines of a company’s marketing
environment objectives, strategic and activities with a view of strength, weaknesses opportunities and
threats and recommending a plan of actions to improve the company’s marketing performance