Marketing Environemnt Flashcards
Micro (porters)
Five forces
Threat of new entrants - barriers to entry, gov policy, capital requirements, switching costs
Bargaining power of suppliers- amount of buyers compared to suppliers, differentiation of products, how important the industry is to the suppliers,suppliers threaten to integrate forward, do not threaten to integrate back
Bargaining power of suppliers - amount of sellers to buyers, standardisation of products, industry is not a key supplier group for buyers, threaten to integrate back , do not threaten to integrate forward
Threat of substitutes- buyers willingness to substitute, relative price and performance of substitutes, cost of switching to subs
Threat of industry competitors- structure of comp, structure of costs, degree of differentiation, switching costs, strategic objectives, exit barriers
Micro the company
Senior management Finance R&D Purchasing,procurement Manufacturing and distribution Accounting and taxation
Micro
Suppliers- Monitor supply shortage and delays and changes in raw mat prices, build relationship with suppliers, integrating within organisational structure
Intermediaries- resellers, physical distribution firms m, marketing agencies, financial intermediaries (banks)
Customers- consumer markets, business markets,reseller market, institutional markets, international markets
Competitors - offer customer value and satisfaction more than the closest competitors, create and sustain comp adv, position offerings in minds of consumers
Publics- financial(banks, shareholders etc), media, gov, local,internal, citizen action)
Macro
PESTLE
Industry analysis
How attractive is an industry or sector to enter
How easy is it for a business to exit an industry or sector
How intense is the competition in the industry
How attractive is the prospect of making profits or building market share in the industry
What is an industry
A group of firms that market products that are close substitutes
