Sensing Consumer and Organizational Behavior Week2

Sensing Consumer and Organizational Behavior Week2 -...

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Sensing Consumer and Organizational Behavior Environmental Scanning Consumer Behavior Organizational Markets Organizational Buying Process Study Tools Environmental Scanning A key role of marketing is to sense and respond to the opportunities that present themselves in the market. Environmental scanning is the process the organization uses to identify trends impacting its business. All organizations operate in an environment defined by five forces: 1. Social 2. Economic 3. Technological 4. Competitive 5. Regulatory Social trends are described by the demographic characteristics of populations and the culture to which these populations adhere. Economic trends are impacted by the consumers' expectations about the economy, and this expectation influences consumer spending and saving patterns. Technological innovation leads to dramatic changes in consumer behavior, and these changes affect marketing on many levels. Competition exists wherever money is being made, and the more successful a product is, the more likely it is to face new and fierce competitive forces. Finally, government provides a powerful force through its ability to regulate markets, and companies must constantly monitor legislation that may impact their market. Understanding consumer and organizational behavior first requires understanding the environment in which the business operates; this is accomplished through the marketing process of environmental scanning. With a sound understanding of the social, economic, technological, competitive, and regulatory forces acting on a consumer or organization, the marketer is ready to consider the behavioral aspects of marketing. Consumer Behavior Have you ever thought about how you make a decision to purchase something? All consumers follow a distinct process. This process may be completed in a few seconds, as in the case of selecting a brand of toilet paper, or it
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This note was uploaded on 11/27/2009 for the course BUSN 319 taught by Professor Framan during the Summer '09 term at DeVry Cincinnati.

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Sensing Consumer and Organizational Behavior Week2 -...

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