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Chapter_3_-_Environments

Chapter_3_-_Environments - Study Guide for Marketing 431...

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Study Guide for Marketing 431 Summer 2009 Chapter 3 – Environmental Scanning Why environmental scanning Definition Gathering information about the environment, analyzing it and predicting the impact Macro – affects all companies Micro – affects your company External – beyond your control Internal – within your control Defense against “Marketing myopia” (Levitt, 1960) Every major industry was once a growth industry The reason growth stops is a failure of management Study Guide for Chapter 3 – Environments Page 1 Marketing 431, Summer 2009 © 2009
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Narrow conception of the business Failure to change in light of changing circumstances Technology Customer needs According to Bruce In marketing, there is no such thing as a good decision or a bad decision at the time you make it. You find that out later There are only “defensible” decisions An environmental scan is a systematic approach to understanding the world Helps make your decisions defensible The point The environmental scan is the first chance you have to make a difference The better your environmental scan, the better your strategic planning Study Guide for Chapter 3 – Environments Page 2 Marketing 431, Summer 2009 © 2009
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This is you best chance to avoid being “blindsided” External Macroenvironment Socio-cultural Demographic characteristics of the population and its values Demographics Describing a population according to characteristics such as age, gender, ethnicity, income, and occupation Basis for segmentation It is easier to succeed when your segment is important and growing Demographics Population Generational cohorts Households Population shifts Diversity Culture Population
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