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MKT - CH3 - Analyzing the Marketing Environment, Demographics,…
MKT - CH3 - Analyzing the Marketing Environment
Demographics
Median
income
in canada is 72k
Working Class
Middle Class
Upper Class
typical demographics such as age, includes generational cohorts, gender income, race, and ethnicity are readily available for marketing research.
Tweens
Gen Y
Gen X
Boomers
Seniors
Indicate characteristics of human populations and segments, especially those used to identify consumer markets
Education
Gender
Ethnicity
Social/Natural
Social and natural trends govern Canada, US, and the world
Greener consumers, green marketing involves a strategic effort by firms to supply customers with environmentally friendly merch
Marketing to Children
Privacy Concerns
The Time-Poor Society
Health and Wellness Concerns
Political/Legal
political parties
governmental organization
Governmental institutions
Trade laws
Regulations
Economic
Economic situation
Inflation
Forex fluctuations
Interest Rates
Recession
Technology
technological advances, such as 4g, etc
Mobile phones
Internet
social media
Company
Marketers can use an analysis of the external environment, like SWOT analysis, to categorize an opportunity as either attractive or unattractive
if it appears attractive, to assess it relative to the firm's existing competencies
the first factor that affects the consumer is the firm itself
Successful marketing firms focus their efforts on satisfying customer needs that match their core competencies
Competition
The more competitors the more choices, the more influenced the decision of the consumer
It's crucial to understand the competitors SWOT, and marketing activities
CI
, collect and synthesize information about their position with respect to their rivals
Culture
shared meanings, beliefs, morals, values, and customs of a group of people.
the challenge of marketers is to have products and services identifiable by and relevant to a particular group of people
Cultures influence what, why, how, where, and when we buy
Country's culture
easy to spot, visible nuances that are particular to a country, such as dress, symbols, ceremonies, language, colors, and food preferences, and more subtle aspects which are hard to identify
Regional Subcultures
The region in which people live in a particular country affects the way they react to different cultural rituals, or even how they refer to a particular product category
Consumers
Influenced directly by the firm's microenvironment
Influenced indirectly by the firm's macro-environment
Corporate Partners
suppliers, manufacturers, etc
Microenvironment
Macroenvironment