MKTG7 IE Ch04 PPT 1 Essay

Submitted By gbovo
Words: 1602
Pages: 7

The Marketing
Environment

Chapter 4
Lamb, Hair, McDaniel
2012-2013

1

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1

Discuss the external environment of marketing, and explain how it affects a firm

2

Describe the social factors that affect marketing 3

Explain the importance to marketing managers of current demographic trends

4

Explain the importance to marketing managers of growing ethnic markets
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2

5

Identify consumer and marketer reactions to the state of the economy

6

Identify the impact of technology on a firm

7

Discuss the political and legal environment of marketing

8

Explain the basics of foreign and domestic competition (C) 2014 Cengage Learning Inc. All Rights Reserved

3

The External
Marketing Environment

Discuss the external environment of marketing, and explain how it affects a firm 4

(C) 2014 Cengage Learning Inc. All Rights Reserved

1

Target Market
A defined group most likely to buy a product • Changes as consumers age
• External elements change consumers’ desires

1
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5

The External Environment
Unless marketing managers understand the external environment, the firm cannot intelligently plan for the future.

Environmental Management is… when a company implements strategies that attempt to shape the external environment within which it operates. 1
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6

Social Factors

Describe the social factors that affect marketing

2
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Social Factors
Attitudes
Attitudes

Values
Values

Lifestyle
Lifestyle
2
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8

American Values
Core American
Values

Emerging Trends

Self-Sufficiency
Self-Sufficiency

Getting
Getting off off the the grid grid Upward
Upward Mobility
Mobility

Meaningful
Meaningful green green Work
Work Ethic
Ethic

EcoTechMed
EcoTechMed

Conformity
Conformity
2
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9

The Influence of
Values on Buying Habits
Ranked Characteristics of Product Quality
Reliability
Durability
Easy maintenance
Ease of use
Trusted brand name
Low price
2
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10

Component Lifestyles
The practice of choosing goods and services that meet one’s diverse needs and interests rather than conforming to a single, traditional lifestyle.
Today’s consumers want multifunctional products 2

No longer defined only by occupation
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11

The Role of Social Media in
Communication
Social Media allow the creation and exchange of user-generated content and include several formats that allow for:
•One-to-one communication
•One-to-many communication
•Many-to-many communication

2
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12

Demographic Factors

Explain the importance to marketing managers of current demographic trends

3
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Demographic Factors
People are the basis for any market
• Demographic characteristics relate to buyer behavior
• Demographic cohorts have their own needs, values, and consumption patterns. 3
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14

Tweens
 Pre- and early adolescents, age 8

to 12
 Population of 20 million
 Directly spend about $50 billion annually  Parents spend $150 billion on tweens annually
 View TV ads as “just advertising”
3
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15

Teens
 Population of about 25 million
 93 percent of U.S. Teens are on the Internet
 View shopping as a social sport

 50 million teens around the world are on Facebook
 The average teen spends about
$45 per week
3
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Generation Y
• Born between 1979 and 1994
• Surpassed population of baby boomers
• Two Stages: 1) Those born in 1994 fit closer to the Teen cohort. 2) Those born…