Donovan Spivey 1/2/13
Marketing Environment:
Consists of actors and forces outside of the organization that affect management’s ability to build and maintain relationships with target customers.
Microenvironment- Actors close to the company that affects its ability to serve its customers.
Macroenvironment- Larger societal forces that affect the microenvironment.
The Microenvironment:
· Company Itself
· Suppliers
· Marketing Intermediaries
· Customers:
Five types of markets that may purchase a company’s goods and services.
I. Consumer
II. Business
III. Reseller
IV. Government
V. International
· Competitors
· Publics:
Any group that has an interest in or impact on an organization’s ability to achieve its objectives.
I. Financial Public
II. Media Public
III. Government Public
IV. Citizen-Action Public
V. Local Public
VI. General Public
VII. Internal Public
The Macroenvironment:
Forces in the macroenvironment can be categorized as:
· Demographic
· Economic
· Natural
· Technological
· Political
· Cultural
Baby Boomers:
· 78 million born (1946-1964)
· 30% of population
· Spend $2.3 trillion annually, hold ¾ of the nation’s financial assets
· Spend $30 billion annually on anti aging products and services; strong market for financial services, new housing, travel, etc.
· Likely to postpone retirement
Generation X:
· 49 million born (1965-1976)
· Defined by shared experiences:
I. Increased parental divorces rates and more employed mothers made generation x the first of the latchkey kids.
II. Gen x developed a more cautious economic outlook due to recessions and downsizing that were common when they grew up.
· Cares about the environment
· Prizes experience, not acquisition
· Family comes first, career second
· Skeptical of marketing messages; researches purchases carefully, uses communities to share information
· Represents close to $1.4 trillion in annual purchasing power.
Millennials:
· 83 million born (1977-2000) larger than baby boomers segment.
· Includes tweens, teens, and young adults
· Ethnically diverse
· Fluent with computer and digital technology
· Personalization and product customization are key to marketing success.
Geographic shifts in population:
· 14% of U.S. residents move down south each year
· Better educated population
· Increasing white collar population
· Increasing diversity
Responding to the Environment:
· Reactive responses: Many firms simply react to changes in the marketing environment
· Proactive responses: Some firms attempt to manage the marketing environment via aggressive actions designed to affect the publics and forces in the marketing environment.
Marketing Environment:
Consists of actors and forces outside of the organization that affect management’s ability to build and maintain relationships with target customers.
Microenvironment- Actors close to the company that affects its ability to serve its customers.
Macroenvironment- Larger societal forces that affect the microenvironment.
The Microenvironment:
· Company Itself
· Suppliers
· Marketing Intermediaries
· Customers:
Five types of markets that may purchase a company’s goods and services.
I. Consumer
II. Business
III. Reseller
IV. Government
V. International
· Competitors
· Publics:
Any group that has an interest in or impact on an organization’s ability to achieve its objectives.
I. Financial Public
II. Media Public
III. Government Public
IV. Citizen-Action Public
V. Local Public
VI. General Public
VII. Internal Public
The Macroenvironment:
Forces in the macroenvironment can be categorized as:
· Demographic
· Economic
· Natural
· Technological
· Political
· Cultural
Baby Boomers:
· 78 million born (1946-1964)
· 30% of population
· Spend $2.3 trillion annually, hold ¾ of the nation’s financial assets
· Spend $30 billion annually on anti aging products and services; strong market for financial services, new housing, travel, etc.
· Likely to postpone retirement
Generation X:
· 49 million born (1965-1976)
· Defined by shared experiences:
I. Increased parental divorces rates and more employed mothers made generation x the first of the latchkey kids.
II. Gen x developed a more cautious economic outlook due to recessions and downsizing that were common when they grew up.
· Cares about the environment
· Prizes experience, not acquisition
· Family comes first, career second
· Skeptical of marketing messages; researches purchases carefully, uses communities to share information
· Represents close to $1.4 trillion in annual purchasing power.
Millennials:
· 83 million born (1977-2000) larger than baby boomers segment.
· Includes tweens, teens, and young adults
· Ethnically diverse
· Fluent with computer and digital technology
· Personalization and product customization are key to marketing success.
Geographic shifts in population:
· 14% of U.S. residents move down south each year
· Better educated population
· Increasing white collar population
· Increasing diversity
Responding to the Environment:
· Reactive responses: Many firms simply react to changes in the marketing environment
· Proactive responses: Some firms attempt to manage the marketing environment via aggressive actions designed to affect the publics and forces in the marketing environment.