FEG AISNE Fall 2011 Fiduciary Responsibility of Committees Final Slides
Fall 2011 chapter 7 slides
description
Transcript of Fall 2011 chapter 7 slides
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Chap
ter 2
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The Market in Marketing
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Chapter Objectives
1. What are the components of the marketing environment? How do those elements affect marketing strategy?
2. What are consumer markets?
3. How are business markets similar to consumer markets? How are they different?
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Objective 1
What are the components of the
marketing environment? How do those
elements affect marketing strategy?
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DEFINED
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The Marketing Environment is a
set of forces, some controllable and
some uncontrollable, that influence the
ability of a business to create value and
attract and serve customers.
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EXPLAINED
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Organization
Micro Environment
Macro Environment
Economy
Political
Technology
Social
Buyers
Suppliers
Competitors
Internal Environment
ExternalEnvironment
Loss of Control
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APPLIED
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Marketing Environment
External Environment
Micro- Environment
Macro- Environment
CustomersCompetitors
SuppliersPartners
TechnologyPolitical
Social / CulturalLegal
Economic
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APPLIED
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Microenvironment
Bargaining power of
customers
Threat of substitute products
Bargaining power of suppliers
Threat of new
entrants
Competitive rivalry within
an industry
Porter’s Five Forces
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APPLIED
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Macroenvironment
Economic
Social / Cultural
Competitive
LegalPolitical
Technological
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Objective 2
What are consumer markets?
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DEFINED
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Consumer Markets are the end
user of the product or service and
include individuals and
households that are
potential or actual buyers
of products or services.
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EXPLAINED
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Consumer Markets
$10 Trillion
ID
AZ
UT
MT
WY
NM
CO
AL
FL
SC
TN
KY
INOH
NC
SD
KS
NE
MN
WI
IA
IL
MO
AR
MS
OK
ND
OR
CA NV
WA
AK
PA
ME
VA
NY
CT
WV
MDNJ
VT
NH
MA
DE
RI
HI
LA
MI
GA
TX
4 states account for 1/3rd of buying power:
CaliforniaTexasFloridaNew York
U.S. Consumer Buying Power in 2007
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APPLIED
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Consumer Markets
Heavily influenced by promotion
Brand names used to convey value
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Objective 3
How are business markets similar to
consumer markets? How are they different?
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THINK
ABOUT
IT
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Consumer / Business Markets
Consumer Market
Business Market
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DEFINED
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Business Markets include individuals
and organizations that are potential or
actual buyers of goods and services that are
used in, or in support of,
the production of other
products or services that
are supplied to others.
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EXPLAINED
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Business Markets
Manufacturers
Intermediaries
Universities
Governments
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THINK
ABOUT
IT
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NAICS
Level Code Description
Sector 51 Information
Subsector 513 Broadcasting and telecommunications
Industry Group 5133 Telecommunications
Industry 51332 Wireless telecom carriers (except satellite)
U.S. Industry 513321 Paging
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EXPLAINED
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Buying Classifications
• New Task
• Modified Rebuy
• Straight Rebuy
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APPLIED
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Business vs. Consumer Markets
Characteristic Business Markets Consumer Markets
Demand Organization Individual
Purchase Volume Larger Fewer
# of Customers Fewer Many
Location of buyers Concentrated Dispersed
Distribution Direct Indirect
Nature of buying Professional Personal
Buying Influence Multiple Single
Negotiations Complex Simpler
Reciprocity Yes No
Leasing Greater Lesser
Promotion Method Personal Selling Advertising
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