Presentation top top theme: "Chapter 5 evaluating the Marketing Environment"— Presentation transcript:
1 Chapter 5 assessing the Marketing Environment
2 discovering Objectives discovering Objective 5.1 Outline how customers, the company, competitors, and corporate partners affect marketing strategy. Learning Objective 5.2 describe why marketers must think about their macroenvironment as soon as they make decisions. Finding out Objective 5.3 describe the differences among the various generational cohorts. Finding out Objective 5.4 identify various social fads that influence marketing. LO5-1 Outline just how customers, the company, competitors, and corporate partners influence marketing strategy. LO5-2 describe why marketers must take into consideration their macroenvironment once they do decisions. LO5-3 explain the differences among the assorted generational cohorts. LO5-4 identify various social fads that impact marketing. These room the discovering objectives guiding the chapter and will be explored in much more detail in the complying with slides.
3 A Marketing Environment analysis FrameworkIn every marketing activities, the customer is at the center. Anything the affects consumers affects marketers. Any adjust in one of these settings likely needs an adjustment come the that company marketing mix. By identify potential environmental trends, firms frequently can take it proactive steps. Jump to postposition 1 lengthy image description
4 The instant EnvironmentThe immediate environment has the firm and its immediate influences, such as competition and also corporate partners.
6 competitors Know strengths and also weaknesses Proactive fairly than reactive strategy Competition likewise significantly affects consumers in the prompt environment. That is therefore crucial that marketers recognize their this firm competitors, including their strengths, weaknesses, and also likely reaction to the marketing activities.
7 From manufacturing facility to RetailerCorporate partner Firms are part of partnerships Align with competitors, suppliers, etc. Simply in Time distribution Systems (JIT) from factorytoRetailer Firms should work together to produce a seamless mechanism that it is intended goods and services to client when and also where they want them. Many attribute a crucial reason because that Wal-Mart’s success is their close relationships with their suppliers.
8 PROGRESS examine (1 that 2) What space the contents of the instant environment? 1. The company’s capabilities, competitors, and also corporate partners.
9 Macroenvironmental FactorsThis slide have the right to be provided to testimonial this topic instead of the following slides, which provide more in-depth discussions.
10 Culture Country culture Regional CultureSubtler facets can be an overwhelming to navigate Sometimes finest answer is to develop universal appeal within particular identities the country society Regional culture For national and global chains, particularly important to cater to local preferences McDonald’s – slightly different variations the staple food selection We generally define culture as the shared meanings, beliefs, morals, values, and also customs that a group of people.transfer through words, literature, and also institutions, culture is passed down from generation come generation and learned end time. Ours various cultures influence what, why, how, where, and when us buy. 2 dimensions of society that marketers must take right into account as they build their marketing strategies room the culture of the country and also that of a region within a country. Firms regularly remove brand from the market because of their poor as whole sales, but this strategy can backfire as soon as those brands have strong local support. Because that example, the remove of a chowder cracker resulted in such upheaval among Northeastern consumer that the firm hired a high ship to reintroduce the cracker to its new England market, whereby consumers had actually threatened to boycott all assets from the agency if the cracker was no returned.
12 Jump come Appendix 2 long photo descriptionGenerational Cohorts consumer in a generational cohort—a team of people of the very same generation—have similar purchase behaviors because they have actually shared experiences and also are in the same stage that life. Using age as a basis to determine consumers is quite useful to marketers, as long as the is used in conjunction with other consumer characteristics. Four major groups are described in the text: Gen Z, Gen Y (also dubbed Millenials), Gen X, and also Baby Boomers. Team activity: have actually students brainstorm a perform of the defining characteristics of their generation. Asking students: exactly how does your generation different from ahead generations, such together you parents’? What macroenvironmental forces have had the most influence on her generation? video clip Link: jump to appendix 2 long image summary
13 income Purchasing power is tied come income. Plenty of middle class families feeling the decline in purchasing power in current years. The “middle-class squeeze” is a very real worldwide phenomenon. Many arising countries face comparable income inequities to those uncovered in the joined States. Pay gaps also cause problems for many new college graduates who find they can not afford come live on their own and also must move ago in with their parents.
15 Gender Male/female roles have actually been shifting.Marketing has readjusted to reflect these shifts. Firms space careful around gender neutrality in positioning their products. Women now make up more than 60 percent of the university population. Years back gender roles showed up clear, yet those male and also female roles have been blurred. In particular, women this day outperform guys scholastically, earn greater grades on average, and also graduate from both high school and also college at better rates. asking students: how do you think this will affect the workplace in the future? questioning students: execute you think that there space still far-reaching gender differences? What are they?
16 Ethnicity by 2050, decimal will represent 50% that the population. Almost 30% will certainly be hispanic Hispanic buying power was projected to reach $1.3 sunshine in 2015, a cumulative increase of roughly 25 percent contrasted with The 50 million Hispanic consumer in the united States have actually increasing influences on tendency U.S. Culture. asking students: What steps can and also should marketers require to respond come the an altering ethnic mix that the united States? many marketers already have adjusted their marketing mix to accomplish the needs of ethnically diverse segments better. This YouTube video is for a Carlos Mencia Bud irradiate superbowl ad about teaching English. YouTube link:
17 Social fads Health and Wellness involves Greener consumers Privacy comes to This graphics introduces far-ranging social trends. Video: “What"s Hot and also Not in Celebrity newspaper Covers” asking students: Why are timeless celebrities not capturing consumers’ attention? asking students: how are tabloids walk to continue to attract readers come buy their content? Celebrity newspaper Covers
18 Technological AdvancesTechnology has impacted every facet of marketing brand-new products brand-new forms of communication new retail channels Arguably the single most important change in the means we live is the arrival of brand-new technology. Consumers have constant access to the Internet everywhere through solutions such together wifi, cell phone hotspots, 4G, and also LTE. Smartphones utilizing the iOS and also Android systems enable for higher computing, data storage, and communication. These examples of advanced modern technology make consumers significantly dependent ~ above the help they obtain from the providers of the technology. Wireless payments v mobile applications (m-wallets) and the use of radio frequency identification machine (RFID) technology are 2 additional technical developments having an affect on marketing. Questioning students: What brand-new technologies have you checked out at retailers? AP Photo/Ric Feld
20 Political/Regulatory Environment: vain Practice and Trade Legislation1890: Sherman Antitrust plot 1914: Clayton action 1914: Federal profession Commission 1936: Robinson-Putman act This list consists of the significant legislation designed come ensure a compete marketplace and clearly demonstrates the U.S. Government’s long background of enacting legislations that protect fair trade.
21 PROGRESS examine (2 that 2) What are the six key macroeconomic factors?Differentiate in between country society and regional culture. What space some crucial social trends shaping consumer values and also shopping behavior? Culture, demographics, social trends, technological advances, financial situation, and political/regulatory environment. Country culture is the entire country yet regional society is based upon the an ar or area in ~ the country. Health and wellness concerns, eco-friendly marketing, and also privacy concerns.
23 Glossary-1 Country culture involves visual nuances the a country’s society such together artifacts, behavior, dress, symbols, physics settings, ceremonies, language differences, colors and also tastes, and food preferences, as well as language. Country society involves visual nuances of a country’s society such as artifacts, behavior, dress, symbols, physics settings, ceremonies, language differences, colors and also tastes, and food preferences, and also language. Go back to slide
24 Glossary-2 culture is the common meanings, beliefs, morals, values, and also customs that a group of people. Culture is the mutual meanings, beliefs, morals, values, and also customs of a group of people. Go back to slide
25 Glossary-3 Demographics show the features of human populations and also segments, particularly those supplied to identify consumer markets. Demographics show the characteristics of human being populations and segments, particularly those used to identify consumer markets. Go back to slide
26 Glossary-4 A generational cohort is a group of civilization of the exact same generation—typically have similar purchase behaviors because they have actually shared experiences and also are in the exact same stage the life. A generational cohort is a group of world of the very same generation. Return to slide
27 Glossary-5 The political/regulatory environment comprises political parties, government organizations, and legislation and laws. The political/regulatory atmosphere comprises politics parties, government organizations, and legislation and laws. Go back to slide
28 Glossary-6 Regional society involves the region in which world live in a specific country. Regional society involves the an ar in which people live in a particular country. Go back to slide
29 Image descriptions Appendix
30 Appendix 1 A Marketing Environment analysis FrameworkConsumers room in the facility surrounded by the prompt environment, which consists of company, competition, and also corporate partners. This consequently is surrounded by the macroenvironment, which consists of demographics, social, technology, economic, political/legal, and culture. Go back to slide
31 Appendix 2 Generational CohortsGen Z to be born in between 2001 and also Age in 2017 to be 0 come 15 year old. Gen Y was born between1977 and Age in 2017 to be 16 to 39 year old. Gen X to be born between1965 and also Age in 2017 was 40 to 51 year old.
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Baby Boomers was born between 1946 and also Age in 2017 was 52 to 70 year old. Return to slide