em session 5 scanning the mktg env class vsn [Autosaved](1)

em session 5 scanning the mktg env class vsn [Autosaved](1)...

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Scanning the Marketing Environment Gary Minkoff
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Objectives Understand the concept-and components of environmental scanning-and describe their impact on marketing strategy and the marketing mix Social Demographic Cultural Technological Economic Macro Micro Competitive Political/Regulatory
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An Alternative “Memory Aid” If you account for “the 5Cs” in your marketing plan…you will have a mechanism to ensure your consideration of the competitive environment In Strategy-the remaining components of the environmental scan are referred to as a PEST analysis: Political Economic Social Technological
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Environmental Scanning-Concept & Components-the forces that affect the organization, its collaborators and customers
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Environmental Scanning What is it? Tracking environmental trends, such as….?
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Environmental Scanning- another look
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Social Factors Demographics-what do these graphs show?
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Social Factors-Demographics Age—COHORTS Baby Boomers-1946-1964 Gen X-1965-1976 Gen Y-19733-1994 Millennials-1995… Is someone missing?-35 million people over the age of 65
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Age Distribution in the US
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Demographics-con’t Which cohort is a target?
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Demographics-cont. Beyond age…evolving family structure…. Marital Status Cohabitation “Blended Family”
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Demographics (cont) Population trends-US geographic shifts-fastest growing-2000-2005 Regions West-8% South-7% States Nevada-20% Arizona-16% Florida-11% Georgia 11%
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Demographics (cont)
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Demographics…still continued IntraState Shifts Urban-54% of US pop. Lives in metro areas with population of 1 million + Suburban Exurban Rural Example New Jersey- http://www.nytimes.com/2011/02/04/nyregion/04jersey.html? partner=rss&emc=rss Pop shifted south-Essex-shrunk—Gloucester/Ocean grew NJ population grew at ½ the national average overall
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Demographics…again Racial/ethnic/cultural diversity NJ-Asian pop + 51%; Hispanic +39% with 2010 census Asian population growth was heaviest in suburban Middlesex County, particularly in Edison, Piscataway, Woodbridge and East Brunswick. The number of Asians in the county jumped more than 50 percent, and by 2010 accounted for 21.3 percent of the population. In Edison, Asians reached 43.1 percent of the population, surpassing whites as the largest group.
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Geo/Demographics What are the marketing implications of These trends ad shifts?
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Did Chevy Get it right this time?
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Social Forces Culture Values-and value-best for least Men and women- in attitudes/roles
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Economic Forces Macro—the “aggregates”… Inflation -rising prices college costs, food, energy Recession -reduced Economic activity fewer jobs, lower spending Index of Consumer Sentiment Now at a 3 year high-but consumers Are worried about rising prices… (U Michigan 9/18/11) Uncertainty? Complexity?
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em session 5 scanning the mktg env class vsn [Autosaved](1)...

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