MT 219 Marketing Unit Two The Marketing Environment and Marketing Research Note: This seminar will...

MT 219 Marketing Unit TwoThe Marketing Environment and Marketing Research

Note: This seminar will be recorded by the instructor.

Review of Unit One

• How did it go? Questions or concerns?

• Instructor suggestions for Unit 2

Microenvironmental Actors

• The organization itself• Suppliers• Marketing Intermediaries• Competitors• Publics• Customers

The Firm or Organization

• Marketing impacts many areas of an organization

• Different functional areas and their capabilities go into marketing planning

• All areas must realize the need to help in marketing efforts

Suppliers

• Provide the materials and resources that organizations use to provide product

• Resources must be provided in a timely way at a cost and quality level required for the product.

Marketing Intermediaries

• Assist the organization getting products to consumers

• Can be involved in a number of area, including physical distribution, financing, marketing services and reselling

• Importance of developing strong relationships

Competitors

• Almost no one is free of competition

• Need to monitor competitive actions

• Need to develop a systematic approach to competitive evaluation

Publics

• Many times referred to as stakeholders

• Involve any group that may impact the development of an organization’s strategies

• This is the reason why companies often need to be actively engaged in public relations

Customers

• The entire rationale for an organization’s existence

• For most companies, this actor represents its sole source of revenue

• There is a need to establish long-term relationships with this group

The Macroenvironment

• Demographic environment• Economic environment• Natural environment• Technological environment• Political environment• Cultural environment

• Businesses are impacted by ALL of these forces.

Demographic Environment

• Demographics can differ significantly between markets

• Looks at:-Aging of the population-Changes in family structures-How the population shifts geographically-Higher levels of education-Increased or decreased diversity

Economic Environment

• Buying Power disposable incomediscretionary income

• Willingness to spend

• Economic conditions and business cyclerecession vs. expansion

Natural Environment

• Looks at the raw resources and natural world conditions that help or hinder the firm

• Raw resources used in products may be in short supply or what is supplied may be in surplus

• Things like climate, natural disasters and man-made disasters can impact the organization

Technological Forces

• Technology – the application of knowledge and tools to solve problems and perform tasks more efficiently.

-most dramatic force today-enables market fragmentation-Not always digital and computer technology

Political Environment

• Political forces may include working with politicians, public interest groups, unions, political groups.

• It also includes obeying laws and regulations that governments might enact

• Depending on the size of the organization, it may need to consider the local, county, state, national and international political environment

Cultural Environment

• Overall, a way of life• Cultures have core and secondary beliefs and values• Includes:

-How people view themselves-How people view others-How people view organizations and other structures in society

-How people view nature and the universe

The importance of marketing research

• Enables marketers to understand consumers and meet their needs

• Is the connection between marketers and consumers in many ways

Marketing Research Process

• Defining the problem• Designing the research plan• Collecting data• Interpreting the findings from the data• Reporting findings in a timely manner

Secondary Data

• Advantagesreadily availableless expensiveless time consuming

• DisadvantagesMay be oldMay not be in form requiredMay be incorrect

Primary Data Collection Approaches

• Observation• Survey• Experiment

Need to Assure Reliability and Validity as much as possible

Sampling – from a population

• Probability – random, stratified, cluster sampling• Non probability – quota, convenience, judgment• Census- a complete count of the population

Basic Contact Methods

• Mail• Telephone• Online• Personal Interview

Questionnaire Construction – open ended vs. closed ended

Any Questions?

Thank you for attending!

See you next week!