Comm 296 - Chapter 4

Comm 296 - Chapter 4 - Comm 296 Chapter 4: Analyzing the...

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Comm 296 Chapter 4: Analyzing the Marketing Environment SITUATION ANALYSIS Marketing environment : the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers - Marketers must be environmental trend trackers and opportunity seekers Microenvironment : actors close to the company that affect its ability to serve its customers – the company, suppliers, marketing intermediaries, customer markets, competitors and publics Macroenvironment : larger societal forces that affect the microenvironment – demographic, economic, natural, technological, political and cultural forces THE COMPANY’S MICROENVIRONMENT - Marketing success depends on relationships with those other than customers The Company - Marketing must work with other company groups (top management, finance, R&D, operations, accounting) that form the internal environment – these sectors have an impact on marketing plans/actions – must “think consumer” Suppliers - Important link in company’s overall customer value delivery system – must treat like partners - Provide resources needed to produce goods and services - Marketing managers must watch supply availability and costs – can affect marketing and customer satisfaction Marketing Intermediaries Marketing intermediaries : firms that help the company to promote, sell and distribute its good to final buyers - Resellers : distribution channel firms that help the company find customers or make sales to them (eg wholesalers, retailers who buy and resell merchandise; Costco, Winners, Future Shop) - Physical distribution firms : help company to stock and move goods from their points of origin to destinations - Marketing services agencies : marketing research firms, advertising agencies, media firms, marketing consulting firms; help company target and promote its products to right markets - Financial intermediaries : banks, credit companies, insurance companies that help finance transactions or ensure against risks associated with buying and selling goods - Company must partner effectively with these marketing intermediaries as they affect value delivery system Competitors - Marketers must gain strategic advantage by positioning their offerings strongly against competitors’ offerings in the minds of consumers not enough to fulfill needs of target consumers - Firms need to adapt suitable competitive marketing strategies based on their size and industry position - 3 types of competition (BMW): o Direct : similar products (Mercedes Benz) o Indirect : not similar, but products that are easily substituted, i.e. fill need in a different way (Driver services) o Marketplace : competing for buyers’ limited discretionary buying power (Cottage) Anything that target consumer may spend their money on Competitive Intelligence - Collect, analyze information about rivals o Analyze their strengths and weaknesses o Predict their new product launches o Anticipate their marketing campaigns and responses to your market programs
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Comm 296 - Chapter 4 - Comm 296 Chapter 4: Analyzing the...

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