edit done W2-Marketing Env

edit done W2-Marketing Env - TR2201 Entrepreneurial...

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Unformatted text preview: TR2201 Entrepreneurial Marketing KWOK Ying Yao bizkyy@nus.edu.sg CHAPTER 3 The Marketing Environment The Marketing Environment 1. PEST: Political (+ regulatory) Economic Social (+ demographic) Technological 2. COMPETITIVE CUSTOMERS, SUPPLIERS, PARTNERS The external environment of marketing affects the performance of a company - a company engages in Environmental Scanning to maintain its relevance in the market. 3-3 Political Environment 1. Political Risk 2. Laws, Regulations & Guidelines Competition Intellectual Property Consumer Rights Business and Marketing 3. Self Regulation Code of Practice Economic Environment 1. Business and Consumer Expectations Inflation and Recession 2. Income and Buying Power Gross and Disposable Income Taxes Savings and Credit Discretionary Income Social Environment Beliefs, Values and Habits Language and Communications Food and Dressing Fragmentation or Consolidation Roles of Men and Women Time Health Safety Demographic Population Growth Composition and Major Groups Major Shifts Households and Family Structure Size Technological Environment Speed of Change Complexity Convergence of Areas Importance of Internet Environmental Issues (overlap Social) Water & Natural Resources Carbon Emission Data Security & Encryption Government Surveillance Privacy Issues (overlap Social) Competitive Structure One Seller Few Sellers Many Sellers Undifferentiated Product Pure Monopoly Pure Oligopoly Pure Competition Differentiated Product Differentiated Oligopoly Monopolistic Competition Competitive Environment Structural Determinants of Competitive Intensity Potential Entrants Bargaining Power of Suppliers Degree of Market Rivalry Bargaining Power of Buyers Degree of Substitutes Competitive Environment Degree of Market Rivalry No. of players and share distribution Market growth Exit barriers Potential Entrants Government regulations Scale of investment Required competence Degree of Substitutes Similarity of functions or benefits Loyalty or preferences Competitive Environment Bargaining Power of Buyers No. of alternative buyers Switching costs Ease of forward/backward integration No. of alternative suppliers Switching costs Ease of forward/backward integration Relative strength of business partners Networked Alliances Bargaining Power of Suppliers Buyer (Singtel & Starhub) or Supplier (FIFA) Power? Partners & Alliances Trends A trend is a direction or sequence of events that has some momentum and durability Some Key Trends in the Singapore Population growing 3.1% (but expected to slow down in the next few years) People are living longer - Aging population >> fewer young people to support the old & older workforce Changes in family life - Marrying later, having children later in life and increase in divorces Increasing literacy rate, especially among female population Consumerism on the increase (estimate by proxy from mobile subscribers) TRENDS What can marketers do to exploit the trends in their marketing effort? ...
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This note was uploaded on 01/18/2012 for the course TR 3001 taught by Professor Kok during the Spring '08 term at National University of Singapore.

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