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2-1 Chapter 2 The Dynamic Marketing Environment 2-2 McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter Goals • The concept of environmental monitoring • The effect of external environmental forces on an organization’s marketing • The influence of external factors on a firm’s marketing • The effect of a firm’s nonmarketing resources on its marketing 2-3 McGraw-Hill/Irwin Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved. Levels of External Forces Macro Level Influences that affect all firms Micro Level Influences that affect a particular firm 2-4 External Macroenvironment Forces 2-5 Demographics People Make Markets Characteristics of Populations Size Distribution 2-6 Growth Economic Factors People with Money to Spend and Willing to Spend it Stage of the Business Cycle Inflation 2-7 Interest Rates Competition Rivals for Customers’ Limited Buying Power Brand Competition Substitute Products Differential Advantage 2-8 Every Company Social and Cultural Forces People Make Markets Lifestyles Values Beliefs 2-9 Socio-cultural Patterns Changing Quickly Social and Cultural Changes 2-10 Concern for Natural Environment Quality not Quantity Changing Gender Roles Two Incomes and Balance Premium on Time Convenience Physical Fitness and Health Exercise and Diet Political and Legal Forces Monetary and Fiscal Policies Governmental Relationship with Industries 2-11 Social Legislation and Regulation Legislation Related to Marketing Legislation Affecting Marketing Regulate Competition • Sherman Antitrust Act • Federal Trade Commission Act • Clayton Antitrust Act • State Unfair Trade Practices Acts • Robinson-Patman Act 2-12 • Wheeler-Lea Act • Lanham Trademark • Consumer Goods Pricing Act • Various deregulation laws pertaining to specific industries Legislation Affecting Marketing Protect Consumers • Pure Food and Drug Act • Automobile Disclosure Act • Kefauver-Harris Drug Amendments • National Traffic and Motor Vehicle Safety Act • Fair Packaging and Labeling Act • Cigarette Labeling and Advertising Acts 2-13 • Consumer Credit Protection Act • Consumer Product Safety Act • Consumer Product Warranty Act • FTC Improvement Act • Nutritional Labeling and Education Act • Children’s Television Act Technology Impacts lifestyles, consumption patterns, economic well-being Starting New Industries 2-14 Altering Existing Industries Affects How Marketing is Carried Out Stimulates Markets and Other Industries External Microenvironment 2-15 Internal Environment 2-16 Operating Environment 2-17 Key Terms and Concepts • Environmental Monitoring • Demographics • Baby boomers • Generation X • Generation Y • Economic environment • Business cycle • Inflation 2-18 McGraw-Hill/Irwin • • • • • • • • Interest rates Differential advantage Social and cultural forces Political and legal forces Technology Market Suppliers Marketing intermediaries • Value chain Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved.
