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Flashcards in Marketing environment Deck (21)
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1

The selling concept

Design - Production - Selling and Promotion - Profits through volume

2

The marketing concept

Target customer - Identify Needs - Integrated Marketing - Profits through satisfaction

3

Objective

What do we want to achieve? Quantified and SMART

4

Strategy

How will you get there? What direction will you take?

5

Key action

What are the main, critical things what need to be done?

6

Market research

- Qualitative vs Quantitative.
-Not just about customer: competitors; trends, habits and segments.
-Primary vs Secondary

7

The Environment (6)`

Political
Environmental
Economic
Legal
Social
Technological

8

The macro environment

-At a broad level
-All encomposing
-External to the company or their competitors control

9

Environmental

Awareness of environmental issues has had a profound effect on purchasing habits in many market sectors and can change attitudes. What could be the environmental impact of the customer, particularly their CSR (Corporate Social Responsibility) or on customer preference?

10

Technological

What is the impact of new technology on society? How will this technology affect the customer? How can the development of new materials, processes and information systems affect the customer?

11

Economic

Macro and micro economic issues can have a strong influence on society. What effects could changes of inflation rates, changes in national, regional or local fiscal policy, interest rates and salary levels have on the Company? Buying patterns?

12

Social

What demographic trends - such as the changes in the population age structure, multi-racial/multi-cultural society and the increasing levels of education - that can have an impact on the customer?

13

Political and legal

What regulation changes or government policy could lead to stabilising or de-stabilising national and international markets?

14

Pestle

-Political
-Economic
- Social
-Technological
-Environmental

15

Porters 5 forces

1.) Suppliers
2.) Substitutes
3.) Buyers
4.) Potential Entrants
5.) Industry Competitors

16

Porter - suppliers

Differentiation of inputs
Switching costs
Concentration
Importance of volume to supplier
Cost relative to total purchases in the industry
Threat of forward integration

17

Porter - Substiutes

Relative price performance of substitutes
Switching costs
Buyer propensity to switch

18

Porter - Buyers

Buyer vs. industry concentration
Buyer Volume
Buyer Switching costs
Ability to backward integrate

19

Porter - Potential entrants

Economies of Scale
Proprietary differences
Brand identity
Switching costs
Capital requirements
Access to distribution
Government policy
Expected retaliation

20

Porter - Industry Competitors

Industry growth
Fixed costs
Intermittent over capacity
Exit barriers
Corporate stakes
Degree of commoditisation
Switching costs
Concentration

21

Conclusions of market environment

- All good marketing strategy starts with good marketing data
- These tools are virtually universal in their usage
- Just ticking boxes doesn’t work – looking for insight.