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CHAPTER 2: MARKETING ENVIRONMENT After completing this chapter, student should be able to understand: 1. Environmental scanning 2. Macroenvironment 3. Microenvironment 4. Responding to the marketing environment Marketing Environment Marketing Environment- consists of the actors and forces outside marketing that affect marketing management’s ability to develop and maintain successful relationships with its target customers. Includes: Microenvironment - forces close to the company that affect its ability to serve its customers. Macroenvironment - larger societal forces that affect the whole microenvironment. The Marketing Environment Demographic Company Economic Cultural Publics Company Suppliers Customers Competitors Natural Political Intermediaries Technological The Microenvironment Company Publics Forces Affecting a Company’s Ability to Serve Its Customers Suppliers Intermediaries Competitors Customers The Company’s Microenvironment Company’s Internal Environment- functional areas such as top management, finance, and manufacturing, etc. Suppliers - provide the resources needed to produce goods and services and are an important link in the “value delivery system”. Marketing Intermediaries - help the company to promote, sell, and distribute its goods to final buyers. The Company’s Microenvironment Customers - five types of markets that purchase a company’s goods and services. Competitors - those who serve a target market with similar products and services against whom a company must gain strategic advantage. Publics - any group that perceives itself having an interest in a company’s ability to achieve its objectives. The Macroenvironment Demographic Cultural Forces that Shape Opportunities and Pose Threats to a Company Political Economic Natural Technological The Company’s Macroenvironment Demographic - studies populations in terms of age, gender, race, occupation, location and other statistics. Economic - factors that affect consumer purchasing power and spending patterns. Natural - natural resources needed as inputs by marketers or that are affected by marketing activities. Economic Environment Economic Development Key Economic Concerns for Marketers Changing Consumer Spending Patterns Changes in Income Environment Shortages of Raw Materials Increased Pollution Governmental Intervention Factors Affecting the Natural Environment The Company’s Macroenvironment Technological - forces that create new technologies, creating new product and market opportunities. Political - laws, agencies and groups that influence and limit organizations and individuals in a given society. Cultural - institutions and other forces that affect a society’s basic values, perceptions, preferences, and behaviors. Technological Environment Rapid Pace of Change Unlimited Opportunities Issues in the Technological Environment Increased Regulation Practical, Affordable Products Political Environment Some Trends in the Political Environment Include: Increasing Legislation Designed to Protect Groups Changing Government Agency Enforcement Increasing Emphasis on Ethics and Socially Responsible Actions