Professional Documents
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Principles of Marketing
Learning Objectives
After studying this chapter, you should be able to: 1. Describe the environmental forces that affect the company s ability to serve its customers 2. Explain how changes in the demographic and economic environments affect marketing decisions 3. Identify the major trends in the firm s natural and technological environments 4. Explain the key changes in the political and cultural environments 5. Discuss how companies can react to the marketing environment
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Chapter Outline
1. 2. 3.
The Company s Microenvironment The Company s Macroenvironemnt Responding to the Marketing Environment
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The marketing environment includes the actors and forces outside marketing that affect marketing management s ability to build and maintain successful relationships with customers
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Demographic environment Economic environment Natural environment Technological environment Political environment Cultural environment
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Generational marketing is important in segmenting people by lifestyle of life state instead of age
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Trends Include:
Ethnicity Gay and lesbian Disabled
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Value marketing involves ways to offer financially cautious buyers greater value the right combination of quality and service at a fair price
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Income distribution
Upper-class consumers Middle-class consumers Working-class consumers Underclass consumers
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Increasing legislation
Protect companies Protect consumers Protect the interests of society
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Socially responsible behavior occurs when firms actively seek out ways to protect the long-term interests of their consumers and the environment Cause-related marketing
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Core beliefs and values have a high degree of persistence, are passed on from parents to children, and are reinforced by schools, churches, businesses, and government Secondary beliefs and values are more open to change
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Proactive
Taking aggressive actions to affect forces in the environment
Reactive
Watching and reacting to forces in the environment
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Dowling College, MBA Georgetown University, BS Business Administration Adjunct Professor, LIM College, NY Adjunct Professor, Long Island University, NY Lecturer, California Polytechnic State University, Pomona, CA President, Walter Heimler, Inc.