mkt chapter 2

Technological & resources (External)

- effective weapon for inflation and recession - reduce productions costs

External ( economic factors )

1. affect consumer buying power and spending patterns. 2. 3 economic areas : consumer income, inflation, recession. i) Consumer income : 1. disposable income increased, more families and inviduals afford the good life. 2. marketers concentrate on : higher quality, higher priced goods and services.

Internal (Public)

1. any group that has an actual or potential interest in or impact on an organization ability to achieve its objectives. 2. 7 types : financial publics, media publics, government publics, citizenaction publics, local publics, general publics, and internal publics.

Internal/Microenvironment

1. company 2. suppliers 3. marketing intermediaries 4. customers 5. competitors 6. public

internal ( competitors )

1. company provide greater customer value and satisfaction than its competitors do 2. marketers must do more than simply adapt to the needs of target consumers.

Social factor (external)

- forecast influence - include our attitudes, values and lifestyles - lifestyle is a mode of living

Competitive factor (externa)

- number of competitors, relative size of competitors, degree of interdependence and mgt has little over the competitive environment confronting a firm.

internal ( supplier )

1. company's overall customer value delivery system 2. provide resources : goods and services 3. supplier problem : supply shortage or delays can affect marketing

external/macroenvironment

1. demographic factors 2. economic factors 3. technological & resources factors 4. political & legal factors 5. competitive factors 6. social factors

Marketing Intermediaries

1. help company to promote, sell and distribute its goods to final buyers 2. they include reseller, physical distribution firms, marketing services agencies and financial intermediaries.

Marketing Environment

1. internal marketing environment 2. external marketing environment

Internal/ microenvironment (company)

1. marketing product 2. different department : finance, accounting, marketing, human resources, purchasing, top management and so on 3. Example : top management sets the company's mission, objectives and policies, marketing manager make decisions within the strategies and plans made by top management.

internal ( customer )

1. provide greater customer value & satisfaction than its competitors. 2. 5 types : consumer markets, business market, reseller market, government market, and international market

External ( demographic environment )

1. study of human population : size, density, location, age, gender, race, occupation and other statistics. 2. demo characteristics : strongly related to consumer buyer behaviour in the marketplace. 3. example : tweens, generation Y, generation X, baby boomers.

external ( economic )

ii) Inflation : - general rise in price without a corresponding increase in wages which results decrease purchasing power. - low inflation, increase profit margins : increase efficiency increase prices and no one will purchase iii) recession - period of economic activities when income production and employement tend to fall and reduce demand for goods and services

Political & Legal Factor (External)

political risk, tariffs, terrorism, and laws/regulations