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