Week_2a_-_Marketing_environment_micro-st

Week_2a_-_Marketing_environment_micro-st - Marketing...

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Unformatted text preview: Marketing Environment I "Marketing does not operate in a vacuum but rather in a complex and changing environment". -Armstrong & Kotler, p. 63 Announcements Please read through the entire syllabus. Comments on extra credit: It is optional. You are rewarded for doing extra credit, but not penalized if you don't (e.g., can't make it to class). Inclass extra credit days will often be consistent across sections, but not always. If there are no marketing studies offered before an exam, we will offer other ways for you to earn maximum extra credit (e.g., more inclass extra credit activities). BA 303/ Coupland Week 2.1/Marketing Environment I 2 Quote of the Day "Marketing does not operate in a vacuum but rather in a complex and changing environment". -- Armstrong & Kotler, p. 63 BA 303/ Coupland Week 2.1/Marketing Environment I 3 The Domain of Marketing Marketing environment Product Price Customers Place Promotion S T R A T E G Y BA 303/ Coupland Week 2.1/Marketing Environment I 4 Today's Agenda Define Marketing Environment Microenvironment The company Suppliers Marketing Intermediaries Customers Competitors Publics Macroenvironment (start) Next Class Week 2.1/Marketing Environment I 5 BA 303/ Coupland A Simple Model of the Marketing Process Figure 11 Weeks 14: Market environment ; Marketing information; consumer behavior BA 303/ Coupland Weeks 56: Segmentation Targeting & Positioning Weeks 713: The Marketing Mix (4 P's) Week 2.1/Marketing Environment I 6 Marketing Environment "The actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers." Armstrong & Kotler, p. 65 Studying the environment allows marketers to: Understand the constraints they operate under Learn of opportunities Reveal to avoid or combat BA 303/ Coupland Week 2.1/Marketing Environment I 7 Actors in the Microenvironment Figure 31 BA 303/ Coupland Week 2.1/Marketing Environment I 8 1. The Company All departments must: "think consumer" cooperate interfunctionally to provide superior customer value and satisfaction BA 303/ Coupland Week 2.1/Marketing Environment I 9 Departments Represented in BA 303 50 87 11 190 114 48 17 13 230 Accounting Actuarial Science AgriBusiness Economics Finance Management Mgmt Info Systems Marketing Supply Chain BA 303/ Coupland Week 2.1/Marketing Environment I 10 Company "Match Game" Marketing cooperates with other functions: Finance Accounting Management Operations Purchasing R&D A. Sets the mission and objectives B. Designs the product C. Obtains supplies and materials D. Produces and distributes the product E. Measures revenues and costs, and keeps marketing on track with objectives F. Finds the money to carry out the marketing plan Week 2.1/Marketing Environment I 11 BA 303/ Coupland 2 & 3. Suppliers & Mktg Intermediaries Suppliers provide resources needed for production and innovation. Intermediaries help the company promote, sell, and distribute the products to end users. BA 303/ Coupland Week 2.1/Marketing Environment I 12 Elements of a Modern Marketing System Figure 12 BA 303/ Coupland Week 2.1/Marketing Environment I 13 Partnering with Intermediaries Resellers Physical distribution firms Marketing services agencies Financial intermediaries BA 303/ Coupland Week 2.1/Marketing Environment I 14 4. Customers Who buys our products? Five basic types of buyers: Consumer Reseller Government and nonprofit International markets BA 303/ Coupland Week 2.1/Marketing Environment I 15 5. Competitors Who might the customer choose instead? Provide reasonable substitutes to customers Buzzwords: "Competitive advantage" "Point of difference" BA 303/ Coupland Week 2.1/Marketing Environment I 16 The Law of Color "A brand should use a color that is the _______ of its major competitors" BA 303/ Coupland Week 2.1/Marketing Environment I 17 Analyzing Competition BA 303/ Coupland Week 2.1/Marketing Environment I 18 Analyzing Competition BA 303/ Coupland Week 2.1/Marketing Environment I 19 Competitor clusters Upscale Restaurants Price Casual Dining Fast Food Number of menu items BA 303/ Coupland Week 2.1/Marketing Environment I 20 6. Publics Any group that has an interest in or impact on an organization's ability to achieve its objectives. Types of Publics: Financial Media Government Citizenaction Local General Internal BA 303/ Coupland Week 2.1/Marketing Environment I 21 Forces in the Macroenvironment Figure 32 BA 303/ Coupland Week 2.1/Marketing Environment I 22 Next Class: Macroenvironment Soak in the rest of Ch. 3 Study tips: BA 303/ Coupland Week 2.1/Marketing Environment I 23 ...
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