Final Review - Final Review Elements of Micro and Macro l....

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Final Review Elements of Micro and Macro l. Micro- All the things a company can change a. Company- look at departments and see how to enter markets b. Suppliers- ex. Gall o Wines c. Marketing intermediaries- all the elements of environment that help the company distribute to the final buyer 1. Physical dist. 2. Marketing service 3. Financial d. Customers- ex. Costco and Jewelry e. Competitors- change environment of competitors f. Publics- any group that has an interest l. Financial- assist comp. in attaining money 2. Government- regulations affecting your firm (Lobbying) 3. Media- news and editorials opinions 4. Citizen act- PR firms) create images/change images 5. Local- chamber of commerce, business bureau etc. 6. General- peoples view of products 7. Internal- employees and management 2. Macro- Markets outside of your control a. Demographics- Age, culture, sex, ethnic background o We have a changing population o Changing in American Family (McD with food on the go) o Shifts in population (old people and cold weather) o Population more sophisticated (more product knowledge) b. Economic- Can't change, but could respond to it o Current recession) warranties, value c. Natural- recognizing trends like natural resources pollution, raw materials d. Technological- Be on the edge to be competitive e. Political- lobbyist, senators o Generally can't control them f. Cultural- Can impact, but not a significant amount o Not confined to physical boundaries (hiphop in Sierra Leon) o Core beliefs- from parent to child, embedded in character . Secondary beliefs- Values that are open to change Steps in Marketing Research 1. Define Problem or Research Objective - Classifications of Research Objectives I . Exploratory Research- Defi ne problem) suggest hypothesis
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This note was uploaded on 09/08/2010 for the course BUS 190 at San Jose State University .

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Final Review - Final Review Elements of Micro and Macro l....

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