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Chapter 2 : Marketing Environment & Marketing Ethics - Coggle Diagram
Chapter 2 :
Marketing Environment & Marketing Ethics
defined the marketing environment as the actors and forces outside marketing that affect marketing management 's ability to develop the maintain successful transactions with its target customes.
marketing environment
microenvironment
the company's immediate environment that affect its ability to serve its customers.
macro-environment
societal forces that affect all the actions in the company's microenvironment.
The External Marketing Environment
(macro-environment)
Demographic Factor - the study of people's vital statistics, such as their age, race and ethnicity, and location.
TWEENS
•age 8 to 14
•29M population
•$39billion of purchasing power
•the richest generation
GENERATION Y
•1979-1994
•60M population
•$200 billion purchasing power
•word of mouth marketing
GENERATION X
•1965-1978
•40M population
•expertise and pessimistic consumers
•entering their money-making years
BABY BOOMERS
•77M population
•$1trillion spending power
•income will continue grow
Social and Cultural Factor
consists the demographic characteristics, customs and values of the population within which the marketing firms are operating (the aim of every business to succed and make profits)
Economic Factor
Economy determin the size and strength of demand for various kind of goods and services
rising consumer income
inflation
recession
Technological and resource factors
knowledge of how to accomplish tasks and goals
start an entirely new industry
radically alter or virtually destroy existing industries
stimulate other markets and industries not related to the new technology
natural resources
impacts on the overral decision of the marketer
Political and Legal Factors
general monetary and fiscal policies
broad social legislation and policies set by regulatory agencies
government relationship with individual industries
laws affecting marketing itslef
Competitive Factors
exist everywhere in market place
competition for market share and profits
global competition
Etical Behavior in Businwss
definition; refers to the moral principles or value that generally govern the conduct of an individual or a group
involve moral values in society
practices that carefully needs to deal with
false and misleading advertisement
misleading products or service warranty
price discrimination
unsafe products or services
unfair remarks about competitors and their products
Corporate social responsibilities
definition of CSR
business's obligation, and concern for society's welfare practiced by business managers taking into consideration the best interest of society and the well beongs of the company