Download consumers confound marketers - Management Lecture Notes and e

CONSUMERS CONFOUND
MARKETERS
?
Identify all of the environmental
factors that can affect the demand
for consumer durables and assess
the magnitude and direction of their
impact.
DEMOGRAPHIC ENVIRONMENT
•Worldwide population growth
•Population age mix
•Ethnic markets
•Educational groups
•Household patterns
•Geographic population shifts
•Rise of micromarkets
ECONOMIC ENVIRONMENT
• General economic conditions
level of employment
level of income
buying power
Inflation rate
level of spending
level of education
• leisure time availability
• Income distribution
• Savings, debt, and credit availability
• Economic cycle
NATURAL ENVIRONMENT
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Shortage of raw materials
Increased energy costs
Anti-pollution pressures
Changing role of governments
SOCIO-CULTURAL
ENVIRONMENT
• World views that consumers hold of
themselves, others, society, organizations,
nature, and the universe
• High persistence of core values
• Existence of subcultures
• In what ways can a manufacturer of
consumer durables seek to gain a
better understanding of its marketing
environment?
In what ways can a manufacturer of
consumer durables seek to gain a
better understanding of its marketing
environment?
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Marketing environment should be
analysed with:
Consumer perceptions
Past experiences
Personal economic situations
Consumer speculations
• How can a manufacturer of
consumer durables seek to respond
to environmental change as rapidly
as possible?
Responding to environmental change
• Adapt production schedules
• Adapt to changing needs
• Adapt to changing trends
• Review integrated marketing
communication
• Review distribution strategy