Marketing 220 term paper

Phillips3717

mkt_220-week_2_lecture_materials.pdf

Home >Business & Finance homework help >Marketing homework help >Marketing 220 term paper

The Global Marketing Environment

Week 2 Notes MKT 220

Charter Oak State College Principles of Marketing Kevin W. Fitzgerald, 2012

Notes based on Marketing, an Introduction by Gary Armstrong & Philip Kotler

Introduction

Week 2 Notes MKT 220

Companies must constantly watch and adapt to the marketing environment in order to seek opportunities and ward off threats. The marketing environment comprises all the actors and forces influencing the companies ability to transact business effectively with its target market.

A microenvironment consists of other actors close to the company that combine to form the company’s value delivery system or which affect its ability to serve its customers. The macroenviromnet consists lf larger societal forces that affect the entire microenviroment.

This Week’s Objectives…

Week 2 Notes MKT 220

At the end of this week you should be able to: 1. Describe the environmental forces that affect the companies

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.

Market Environment

Week 2 Notes MKT 220

The Marketing Environment

Macroenvironment Microenvironment

The Micro Environment Week 2 Notes MKT 220

Company

Suppliers

Intermediaries •Resellers •Physical distribution Firms •Marketing Service Agencies •Financial Intermediaries

Customers

Competition

Publics •Financial •Media •Government •Citizen-action •Local

Internal Environment

Week 2 Notes MKT 220

Company

Example: Distribution

Week 2 Notes MKT 220

Coca-Cola distributes its products to many countries around the world.

While the product itself remains the same, packaging, marketing and distribution are all affected by international expansion and delivery.

Types of Consumer Markets

Week 2 Notes MKT 220

Reseller Markets

Company

Types of Publics

Week 2 Notes MKT 220

Company

The Macro Environment

Week 2 Notes MKT 220

Demographic

Economic

Natural

Technological

Political

Cultural

Macroeconomic Forces

Week 2 Notes MKT 220

Company

Example: Economic Forces

Week 2 Notes MKT 220

Marriott Corporation

The Marriott corporation targets various economic levels with different types of hotels.

High end-

Middle-

Economy-

Key Terms

Week 2 Notes MKT 220

•Baby Boom

•Cultural Environment

•Demography

•Economic Environment

•Engel’s Laws

•Environmental Management Prospective

•Macroenvironment

•Marketing Environment

•Marketing Intermediaries

•Microenvironment

•Natural Environment

•Political Environment

•Public

•Technological Environment

Relevant Websites

Week 2 Notes MKT 220

Federal Trade Commission (FTC) http://www.ftc.gov

Council of Better Business Bureaus’ National Advertising Division (NAD) http://bbb.org/advertising

National Advertising Review Board http://www.bbb.org/advertising/narb.html

European Commission for Advertising/Consumer Law http://eurpoa.eu.int/en/comm/spc/spc.html

Food and Drug Association (FDA) http://ww.fda.gov

Consumer Product Safety Commission (CPSC) http://ww.epse.gov

http://www.ftc.gov/

http://bbb.org/advertising

http://www.bbb.org/advertising/narb.html

http://eurpoa.eu.int/en/comm/spc/spc.html

http://ww.fda.gov/

http://ww.epse.gov/

Marketing Research and Information

Systems

Week 2 Notes MKT 220

Charter Oak State College Principles of Marketing Kevin W. Fitzgerald, 2012

Notes based on Marketing, an Introduction by Gary Armstrong & Philip Kotler

Introduction

Week 2 Notes MKT 220

In today’s complex and rapidly changing environment, marketing managers need more and better information to make effective and timely decisions. This greater need for information has been matched by the explosion of information technologies for supplying information. Using today’s new technologies, companies can now handle great quantities of information, sometimes even too much.

Yet marketers often complain that they lack enough of the right kind of information or have an excess of the wrong kind. In response, many companies are now studying their managers’ information needs and designing information systems to satisfy those needs.

This Week’s Objectives…

Week 2 Notes MKT 220

At the end of this week you should be able to: 1. Explain the importance of information to the company.

2. Define the marketing information system and define its parts.

3. Outline the steps in the market research process.

4. Compare the advantage and disadvantage of various methods of collecting information.

5. Discuss the special issues some marketing researchers face, including public policy and ethical issues.

Marketing Information Systems

Week 2 Notes MKT 220

Assessing Information

Developing Information •Internal Data

•Marketing Intelligence

•Marketing Research

•Information Analysis

Distributing Information

Marketing Research Process

Week 2 Notes MKT 220

Defining the problem and

research objectives

Developing the research

plan for collecting

information

Implementing the research

plan, collecting and analyzing

the data

Interpreting and reporting

the data

Example: Research

Week 2 Notes MKT 220

The biggest disaster in market research – New Coke! The quintessential market research disaster, focus groups picked new coke over old coke, but no one asked if they would BUY the new coke over the old coke.

The researchers forgot to incorporate brand familiarity and thus created a huge disaster.

Soon after they introduced new coke, and eliminated old coke, complaints and protests occurred. The eventually brought back coke, now called Coke Classic, but they have never truly recovered the market share they lost.

Market Research Process

Week 2 Notes MKT 220

Defining the Problem & Research Objectives

•Exploration Research

•Descriptive Research

•Casual Research

Research Plan

Week 2 Notes MKT 220

Determining Specific Information

Gathering Secondary Information

Primary Data Collection

Presenting the Plan

Example: Gathering Data

Week 2 Notes MKT 220

Supermarket scanners

Every day, when you use a supermarket “discount card” and have your products scanned in to the register, marketers are conducting research on your buying habits.

If they see you always buy toothpaste and milk, they will give you coupons for milk the next time you buy toothpaste.

Or if they see most people buy cereal with milk, but you don’t, next time you will get coupons for cereal.

Other Market Research Considerations

Week 2 Notes MKT 220

Small Business & Non-profits

International Public Policy & Ethics

Fitzgerald Fun Fact

Week 2 Notes MKT 220

Focus Groups – more than meets the eye.

A focus group was invited in to a market research project to rate some upcoming commercials. They were given free drinks and snacks to eat while they were working.

Unknown to them, the real research was on the snacks, not the TV shows. This eliminated the unconscious observation bias that might taint a research project.

Key Terms

Week 2 Notes MKT 220

•Casual Research Descriptive Research

•Experimental Research

•Exploratory Research

•Focus Group Interviewing

•Internal Databases

•Marketing Information Systems (MIS)

•Marketing Intelligence

•Marketing Research

•On-line Databases

•On-line (Internet) Marketing Research