Identify trends in the firms natural and technological environments
Identify trends in the firms natural and technological environments
Identify trends in the firms natural and technological environments
BY Joel Jacob Mathew Learning Goals 1. Understand environmental forces 2. Learn how demographic and economic factors affect marketing 3. Identify trends in the firms natural and technological environments 4. Explore key changes in political and cultural environments 5. Realize how companies react to the marketing environment 3-1 Case Study McDonalds Challenges and Reactions ??? Challenges Shifting consumer lifestyles Low ratings of food and service quality Atmosphere not upscale Image of being unclassy, uncultured and uncool to younger target markets ??? Marketing Initiatives Focus on core competency of consistent products and reliable service Upscale alternative including McCafe and Bistro Gourmet Healthier food options with elimination of supersize and introduction of Go Active! Adult Happy Meal 3-2 The Marketing Environment ??? Marketing Environment: ??? The actors and forces outside marketing that affect ??? ??? ??? ??? marketing managements ability to build and maintain successful relationships with target customers Microenvironment Includes the actors close to the company Macroenvironment Involves larger societal forces Goal 1: Understand environmental factors 3-3 Microenvironment Actors 1. The company ??? Marketing must consider other parts of the organization including finance, R&D, purchasing, operations and accounting ??? Marketing decisions must relate to broader company goals and strategies Goal 1: Describe environmental factors 3-4 Microenvironment Actors 1. The company 2. Suppliers ??? Marketers must watch supply availability and pricing ??? Effective partnership relationship management with suppliers is essential Goal 1: Describe environmental factors 3-5 Microenvironment Actors 1. The company 2. Suppliers 3. Marketing intermediaries ??? Help to promote, sell and distribute goods to final buyers ??? Include resellers, physical distribution firms, marketing services agencies and financial
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