MKTG EXAM 1 MKTG ENVIORMENT (week 2 content)

what is the mktg environment

“The actors & forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers.”

Actors in the micro environment

1. The company

2. Suppliers

3. MKTG intermediaries

4. Competitors

5. Publics

6. Customers

1. THE COMPANY characteristics

• All department must “think consumer”

• corporate inter-functionally to provide superior customer value & satisfaction

2. Suppliers’ characteristics

Provide resources needed for productions and innovation.

3. Intermediaries’ characteristics and types of intermediaries

• Help the company promote, sell & distribute the products to end-users

• resellers, physical distribution firms, MKTG Service agencies, financial intermediaries

4. Competitors

• Who might customers choose instead?

• Provide reasonable substitutes to customers

BUZZWORDS

• “COMPETITIVE ADVANTAGE”

• “POINT OF DIFFERENCE”

LAW OF COLOR

A brand should use a color that is opposite of its major competitors

5. Publics

any group that has an interest in or impact on any organization’s ability to achieve its objectives

• financial,media,local,general,gov’t,internal,citizen action

6.Customers

• who buys our products?

• CONSUMER, BUSINESS,RESELLER,GOV’T&NON PROFIT, INTERNATIONAL MARKETS

what are economic forces

consits of factors that affect consumer purchasing power and spending patterns

Forces in the MACROENVIORMENT

• demographic

• economic

• natural

• technological

• political

• cultural