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Analysing the Marketing Environment, Conscious Marketing, Corporate Social…

- - - - Depends on
        
        Inflation
        
        Consumer confidence
        
        Supported by
        
        http://bit.do/Consumer-s-confidence
        
        Where
        
        Consumer have higher purchasing power when they feel confident in the economy
    - - Political environment
        
        Have
        
        Regulation that may limit/influence marketing actions
        
        Comprises of
        
        Government organisations
        
        Laws
        
        Legislation
        
        Political parties
      - Regulatory environment
        
        Consists of
        
        Protecting competition
        
        Pricing-related legislation
        
        Product-related legislation
    - - Examples
        
        Health and wellness concerns
        
        Greener consumers
        
        Privacy concerns
        
        Example
        
        http://bit.do/Apple-Privacy
        
        Elaboration
        
        Its contractors are able to listen to Siri's recording
        
        Makes consumer felt unsafe
        
        Apple had invaded people's privacy
    - - Impacted every aspect of marketing
        
        New products
        
        New forms of communication
        
        New retail channels
      - Examples
        
        Chatbot
        
        Supported by
        
        http://bit.do/Examples-of-Chatbots
        
        Elaboration of how Sephora is using Chatbots
        
        Sephora's chatbot allows customers to pick a colour from an image and find a match from its beauty products.
        
        Customers can engage with Sephora regarding relevant service provide
        
        With chatbots available, there is an increase in their booking rates thus increasing in company's sales.
        
        Speech Recognition
        
        AR/VR
    - - Variables
        
        Gender
        
        Income
        
        Supported evidence
        
        http://bit.do/Maserati-cars
        
        Elaboration
        
        Maserati targets richer audience due to its high price
        
        Maserati is using Sky's targeted TV technology to target their advertisement to specific individual
      - Indicates
        
        Characteristics of human populations and segments
    - - Is
        
        Shared beliefs, values of a group of people
      - Categorized into
        
        Country culture
        
        Example
        
        Dress
        
        Supported by
        
        http://bit.do/Impact-of-country-culture
        
        1 more item...
        
        Taste
        
        Symbols
        
        Supported by
        
        http://bit.do/Impact-of-country-culture
        
        1 more item...
        
        Regional culture
        
        Where
        
        Region in which people live in affects many aspects of people's life
  - - - Where
        
        Firms have to understand competitors well
    - - Where
        
        Companies work with partner to create an efficient manufacturing system.
    - - Which
        
        Focus on satisfying customer needs and wants that match their core competencies.
- - - - Where
        
        Firm's leaders are dedicated to the proposition of being conscious at all levels of the business
    - - Where
        
        Decisions are made on sound marketing ethnics
    - - Where conscious marketing should appeal to
        
        Employees
        
        By
        
        Ensuring a safe working environment
        
        Taking care of their well-being and health
        
        Customers
        
        Conscious Markeing allow
        
        Increase consumer awareness of firm
        
        Better brand equity
        
        Increase sales
        
        *Conscious marketing must take into account
        
        Privacy
        
        Health
        
        Current trends
        
        Environment
        
        Marketplace
        
        Where
        
        One firm in the industry lead the way towards conscious marketing and others have no choice but to follow
        
        Society
        
        Where
        
        Companies should act responsibly
        
        Example
        
        http://bit.do/google-article
        
        1 more item...
      - must be
        
        Sustainable
    - - Where
        
        Marketers recognise that the purpose of business is more than making profits
        
        Supported by
        
        http://bit.do/BengWhoCaresFoundation
        
        Elaboration
        
        They spare free food for people who cannot afford to buy food
        
        Raising awareness to the public that there are people who needs help during the period of Covid-19
  - - - The ethical situations that are specific to the domain of marketing
    - - Sale of products that damage environment
      - Child labor
    - - Decisions on how products are made can impact society and environment.
  - - - Voluntary actions taken by company to address ethical, social and environmental impacts of business operation and concerns of its stakeholders
- - - - Ethical firm not involved with the larger community
  - - - Questionable firm practices but donates a lot to the community