Lesson 4: The Marketing Environment and Managing Marketing Information CHPT 3 – Analyzing the Market Environment CHPT 5 – Managing Marketing Information to Gain Customer Insights 1. differentiate between the marketing microenvironment and macroenvironment. (textbook, p. 72) Marketing Environment – consists of the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers. Microenvironment – consists of the actors close to the company that affect its ability to serve its customers – the company, suppliers, marketing intermediaries, customer markets, competitors and publics. 2. describe the environmental forces that affect an organization’s ability to serve its customers. (textbook, pp. 72–76) The Microenvironment 1) Company – interrelated groups that form the internal environment 2) Marketing intermediaries – help the company promote, sell, and distribute its products to its final customers 3) Publics – any group that has an actual or potential interest in or impact on an organizations ability to achieve its objectives. Seven (7) Types of Publics: 1. Financial publics – banks, investment analysts, and stockholders 2. Media publics – news, features, and editorial opinion (newspapers, magazines) 3. Government publics – product safety, truth in advertising 4. Citizen-action publics – environmental groups 5. Local publics – neighbourhood residents, community organizations 6. General public 7. Internal publics – workers, managers, volunteers and the board of directors *Customers are the most important actors in the company’s microenvironment 3. explain how changes in the demographic environment affect marketing decisions. (textbook, pp. 76–85) Macroenvironment – consists of larger societal forces that affect the microenvironment – demographic, economic, natural, technological, political and cultural forces. Demography – the study of human populations in terms of size, density, location, age, gender, race, occupation and other statistics The single most important demographic trend in Canada is the changing age structure of the population – it is getting older
Baby boomers – 1947 – 1966 Generation X – 1967 – 1976 Generation Y (the Millennials) – 1977 – 2000 Notion of generational marketing The changing household – “crowded nest” syndrome – 42% ages 20 – 29 living w/parents Fewer families having children Dual income families – 72% of women in the workforce have children Demographic shifts in population – less inter-provincial migration Better Educated, More Professional Population Increasing Diversity 4. summarize trends in economic, natural, technological, political, and cultural environments that have an impact on marketing.
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