principles of marketing mkt 333 chapter 4 evaluating opportunities in the changing marketing...
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Organizational Mission A statement of company purpose. Explains why the organization exists and what it hopes to accomplish. An organizational mission: Sets the direction for the company Defines the business A statement of company purpose. Explains why the organization exists and what it hopes to accomplish. An organizational mission: Sets the direction for the company Defines the businessTRANSCRIPT
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Principles of MarketingMKT 333
Chapter 4Evaluating Opportunities in the Changing Marketing Environment
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Three Basic Objectives Provide Guidelines
Engage in specific activities that will provide a socially and economically useful function
Develop an organization that can carry on the business and implement its strategies
Earn enough profit to survive
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Organizational Mission
A statement of company purpose. Explains why the organization exists and what it hopes to
accomplish.An organizational mission: Sets the direction for the company Defines the business
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Marketing Environments
MarketingMarketingMixMix
DomesticDomesticEnvironmentEnvironment
ForeignForeignEnvironmentEnvironment
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OrganizationOrganization
SocioculturalSociocultural
DemographicDemographic
Politics andPolitics andlawlaw
Science and technologyScience and technology
PhysicalPhysicalenvironmentenvironment
Economic &Economic &competitivecompetitive
Broad societal forces that shape every Broad societal forces that shape every business and nonprofit marketer.business and nonprofit marketer.
The Macroenvironment
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Physical Environment
The environment consisting of natural resources The environment consisting of natural resources and other aspects of the natural world.and other aspects of the natural world.
Includes:Includes: Natural resourcesNatural resources ClimateClimate
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Physical Environment
Green Marketing: Marketing activities beneficial to the physical environment.
“Green” products “Green” packaging
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Competitive Forces
CompetitiveCompetitiveMarketMarketStructuresStructures
Pure competitionPure competition
MonopolisticMonopolisticcompetitioncompetition
OligopolyOligopoly
MonopolyMonopoly
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Competitor Analysis
A tool to help us evaluate the strengths and weaknesses of competitors
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Economic Forces
Economic Measures: Gross Domestic Product (GDP): Total value of
goods and services produced by capital and workers in a country.
Gross National Product (GNP): Total value of goods and services produced by a nation, regardless of location.
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Economic Forces
Interest Rates Inflation
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Science and Technology
Science: Accumulation of knowledge about humans and the environment.
Technology: Application of science to practical purposes.
Includes: Information technology Communications
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Politics and Law
Political environment: Practices and policies of governments.
Legal environment: Laws and regulations and their interpretation.
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How do politics and law affect marketing?
Can limit the actions marketers take
can require certain actions be taken
can prohibit certain actions
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Antitrust Laws
Federal laws which promote competition in U.S. markets.
Sherman Anti-trust Act Clayton Act Federal Trade Commission Act
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Consumer Protection Law
Product Safety Labeling Health standards
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International Law
Legal systems vary tremendously by country
Multinational Marketing Groups
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Sociocultural Environment
The institutions, values, beliefs, and behaviors of a society.
Includes: Culture Social values Beliefs
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Social Environment
Migration Age Income Ethnicity Urbanization Literacy
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1935 1970 2005
13
19
26
Birt
hrat
e25.0
18.7
19.4
14.614.0
16.6
After a peak between 1950 and 1955, U.S. Birthrates declined steadily until 1975. Following a brief rise in rates finishing about 1990, rates have again begun to fall.
4-14
Changes in U.S. Birthrate, 1935-2005
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Insensitive Sensitive
Basiccommodity-typeconsumerproducts
Industrialproducts
Consumerproducts thatare linked to
culturalvariables
Exhibit 4-104-19
Continuum of Environmental Sensitivity
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CustomersNeeds and other
SegmentingDimensions
CompanyObjectives
& Resources
CompetitorsCurrent &Prospective
S.S.W.W.O.O.T.T.
TargetTargetMarketMarket
Product Place
PromotionPrice
External Market EnvironmentTechnological Political & LegalSocial & Cultural Economic
Segmentation& Targeting
Differentiation & Positioning
Narrowing down to focused strategy with quantitative and qualitative screening criteria
Exhibit 18-1
18-4
Overview of the marketing strategy planning process