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Microenvironmental Actors The organization itself Suppliers Marketing Intermediaries Competitors Publics Customers
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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!