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BBA303
Principles of Marketing Today’s Topics
The Macroenvironment Demographic Demographic
Cultural Cultural Economic Economic Forces Forces that that Shape Shape Opportunities Opportunities and and Pose Pose Threats Threats to to aa Company Company Political Political Natural Natural
Technological Technological Demographic
Demographic - monitors population in terms of
age, sex, race, occupation, location and other statistics. Key The 78 million people born Generations during the baby boom, following World War II and lasting until the Baby Boomers early 1960’s Generation X Generation Y The 45 million people Key Generations Born between 1965 and 1976 Baby Share new cultural Boomers concerns Generation X
Generation Y Born between 1977 and 1994
Key Generations 72 million strong; almost
as large a group as their baby boomer parents Baby Boomers New products, services, and media cater to GenY Generation X Challenging target for Generation Y marketers Key Demographic Trends – Changing household – Geographic population shifts – Better-educated, more white-collar workforce – Increasing Diversity Economic Environment
Economic Environment - factors that affect
consumer buying power and spending patterns. Economic Economic Changes Changes Development Development in in Income Income Key Key Economic Economic Concerns Concerns for for Marketers Marketers
Changes Changes in in Consumer Consumer Spending Spending Patterns Rapid Change Interest Rates Inflation Global Economy Natural Environment
Natural environment- natural resources needed as inputs
by marketers or that are affected by marketing activities. Shortage of raw materials Increased pollution Government intervention Technology Environment
Technological environment- forces that create new
technologies, creating new product and market opportunities. Computers and computing power Communications capabilities – cellular communications – the internet Virtual reality Rapid Rapid Pace Pace of of High High R R&&DD Change Change Budgets Budgets
Issues Issues in in the the Technological Technological Environment Environment
Focus Focus on on Minor Minor Increased Increased Improvements Improvements Regulation Regulation Main Problem: It can make your product obsolete. Political Environment
Political environment- laws, government agencies and
pressure groups that influence or limit marketing actions. Increased Increased Changing Changing Legislation Legislation Enforcement Enforcement
Key Key Trends Trends inin the the Political Political Environment Environment
Greater Greater Concern Concern for for Ethics Ethics Cultural Environment
Cultural environment- forces that affect a society’s basic
values, perceptions, preferences, and behaviors. Of Oneself Of Of the Universe Others Views Views That That Express Express Values Values Of Of Nature Organizations Of Society Responding to the Marketing Environment
Reactive: Passive Acceptance and Adaptation
– Companies design strategies that avoid threats and capitalize upon opportunities.
Proactive: Environmental Management – Use of lobbyists, PR, advertorials, lawsuits, complaints, and contractual agreements to influence environmental forces. Identifying Potential Markets
Money – Relative buying power Growth – Rate of growth Concentration – Population density Literacy – Communication concerns Enough for today. . . Summary
The Macroenvironment Demographic Demographic
Cultural Cultural Economic Economic Forces Forces that that Shape Shape Opportunities Opportunities and and Pose Pose Threats Threats to to aa Company Company Political Political Natural Natural
Technological Technological Next…. Analyzing Marketing opportunities and developing strategies-MIS The Marketing Information System Marketing Marketing managers Marketing Information System environment
Developing information Test
Analysis markets Assessing Internal Marketing Planning information Marketing needs records intelligence channels Implemen- tation Competitors
Control Marketing Publics Distributing decision Marketing information support research Macro- analysis environment forces
