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chapter four analyzing the marketing environment McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Analyzing the Marketing Environment LEARNING OBJECTIVES LO1 Outline how customers, the company, competitors, and corporate partners affect marketing strategy. LO2 Explain why marketers must consider their macroenvironment when they make decisions. LO3 Describe the differences among the various generational cohorts. LO4 Identify the various social trends. 4-2 A Marketing Environment Analysis Framework 4-3 The Immediate Environment 4-4 Company Capabilities Core competency Existing knowledge, facilities, patents, etc. ©M Hruby applied to New markets, new products, etc. 4-5 Competitors • Know strengths & weaknesses • Proactive rather than reactive strategy Chad Baker/Getty Images 4-6 Corporate Partners From factory ©Lars A Niki Siede Preis/Getty Images D Normark/PhotoLink/Getty Images • Firms are part of alliances • Align with competitors, suppliers, etc. • Just in Time Delivery Systems (JIT) to Retailer 4-7 Macroenvironmental Factors 4-8 Culture Country Culture vs. Regional Culture ©Brand X Pictures/PunchStock PhotoLink/Getty Images 4-9 Demographics Provides an easily understood snapshot of the typical consumer in a specific target market BananaStock/JupiterImages Comstock Images/Alamy U.S. Census Website 4-10 Generational Cohorts 4-11 Income • Purchasing power is tied to income • Many middle class families feel the decline in purchasing power in recent years Courtesy of Hammacher Schlemmer, wwwhammachercom 4-12 Education = ©Fancy Photographer/Veer Brand X Pictures Education is related to income, which determines spending power 4-13 Gender Male/female roles have been shifting Marketing has changed to reflect these shifts Jochen Sand/Digital Vision/Getty Images 4-14 Ethnicity By 2050, minorities will represent 50% of the population. ©2006 Oldemarak, LLC Reprinted with permission The Wendy’s name, design and logo are registered trademarks of Oldemark, Llc and are licensed to Wendy’s International, Inc. Bud Light Commercial 4-15 Social Trends Price Sensitivity Health and Wellness Concerns Privacy Concerns Greener Consumers Time-Poor Society 4-16 Technological Advances • Technology has impacted every aspect of marketing – New products – New forms of communication – New retail channels AP Photo/Ric Feld Stop and Shop Website 4-17 Economic Situation Foreign currency fluctuations Brand X Pictures Combined with inflation and interest rates affect firms’ ability to market goods and services PhotoLink/Getty Images Conference Board Website 4-18 Political/Regulatory Environment Competitive Practice and Trade Legislation 1890: Sherman Antitrust Act 1914: Clayton Act 1914: Federal Trade Commission 1936: Robinson-Putman Act 1938: Wheeler-Lea Act David Hiller/Getty Images 1993: North American Free Trade Agreement (NAFTA) 4-19
