Basics of marketing/ uncontrollable factors

Production Era

1920 Quality sells itself (made it try to sell it)

Marketing concept era

1950 consumer is king (research to see what they want to make it)

Sales era

1950 creative economy of scale ( we can build a lot for a good price but people don't want it)

Relationship Era

2000s long-term relationships lead to success (value)

Services

Activities or benefits offered essentially intangible do not result in ownership of anything

Products

Anything that can be offered for. That might satisfy a need or want

People marketing

Celebrities endorsing products

Demographic trends

Changing age structure of population, changing households, increasing cultural diversity

Competitors

Company wants to provide greater customer value or satisfaction (mirco)

Customers

Consumer, business, reseller, government, international ( micro )

Experience

Create, stage, and market brand experiences (attending live theater music concert)

Demography

Density, location, age, sex, race. People buy certain things and certain ages (macro)

Place marketing

Destination for tourists or companies to locate ( vancouver olympics )

Cultural

Forces that affect society's basic values perceptions preferences and behavior ex. Woman in work place, men buying groceries

Demands

Human wants backed by buying power unlimited wants meet limited resources

Designing marketing strategy

In understanding needs, wants, and demands is important for

Economy

Income, cost-of-living, interest rates, affect buying power and spending patterns

Political

Increasing legislation to protect companies from each other and consumers from unfair business practices

What is marketing?

Marketing is a set of business practices designed to plan for and represent an organizations products or services in ways that build affective customer relationships

Uncontrollable factors

Microenvironment: customers, competitors Macroenvironment: demography, demographic trends, economy, technology, political, cultural

Technology

Most dramatic for shaping our future. creates new markets cds to cassettes

Idea marketing

Not smoking, recycling

Need

PHYSICAL needs for food, water, shelter SOCIAL needs for belonging, and affection

Marketing mix

Product place price promotion

History

Production Era, sales era, marketing concept era, relationship Era

Wants

Shaped by culture and individual personality, consumers learn how to satisfy needs

Management

The total system of business activities designed to plan price promote and distribute something of value (basically a way of doing things)

Marketing myopia

You can't see the forest for the trees is Canucks sports or entertainment