MKT 202
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Transcript of MKT 202
CHAPTER 3-THE MARKETING ENVIRONMENT
The environment inside which the firm has to make marketing plans and decisions. The two broad categories are Microenvironment Macroenvironment
The Company itself Management structure-flat vs. tall Management Policies-Fair vs. Unfair Corporate philosophy-Open vs. Rigid
Suppliers Quality of Raw Materials Timely delivery of raw materials Good source of market information Access to priority
Market Intermediaries Resellers Banks/Financial Institutions Market Research Firms Ad agencies Physical distributors
Competitors Direct Indirect Substitute product Complementary product
Customers Individual Corporate/Organizational Government International
Financial PublicLocal PublicCitizen Action PublicGovernment PublicMedia PublicGeneral Public Internal Public
Demographics (Population Factors) Increased population Increased middle class Changing family systems▪ Joint to nuclear families▪ Large to small families▪ Working women
Increasing diversity
Economic Environment Industrial Developing Subsistence
Engel’s Law
Natural Environment Shortage of raw materials Increased pollution Increased government intervention Greater focus on Sustainability
Technological Factors: Summary of the Digital Age in Chapter 1
Cultural Factors: Primary (Core) Beliefs-they will never
change Secondary Beliefs-they may change, so
marketers try to influence them.