...5/3/2014 Topic Outline MARKETING ENVIRONMENT Principles of Marketing Lecture 2 Scanning the marketing environment Components of the marketing environment. Impact of the macro-environment. Impact of the micro-environment. Marketing Environment • Scanning the Marketing Environment Companies scan the marketing environment in order to change and adapt their marketing strategies – as it provides opportunities and threats. In doing this companies must be proactive, It is pointless to conduct environmental scanning unless marketing strategies are changed to fit with the environment. A company’s marketing environment consists of the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers. 1 5/3/2014 Components of the Marketing Environment Macro-environment Micro-environment Macroenvironment: Demographic Changing age structure of the population Changing family structure The larger societal forces The forces close to the that affect the whole company that affect its ability to serve its customers: microenvironment: Political Company Economic Competitors Demographic Suppliers Cultural Marketing Intermediaries Technological Customers Natural Publics Increasing diversity Better-educated, more white-collar, more professional population Geographic shifts in population Macroenvironment: Demographic Demography: The study of human population in terms of...
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...Diversification Strategies BUS 508 Contemporary Business Professor Lewis Janisa Carter February 1, 2012 Introduction In today’s highly competitive and challenging business environment many variables are to be considered when it comes to the success or failure of a business. Business firms must consider the worlds fast changing societal needs and appropriately employ the diverse strategies needed to flourish. This paper will compare and contrast two businesses, one successful and the other unsuccessful. By doing so, I will take a closer look at diversification strategies and evaluate the reasons that determine a business’s outcome. I will also discuss the importance of business plans, marketing plans, and strategic plans as they are key elements to the success of a business. And finally, I will offer the failed business new diverse strategies that would help with future success. Compare and Contrast Two Businesses and their outcomes Amazon.com Amazon.com was founded by Jeff Bezos in 1994, and launched in 1995. Amazon.com is an American multinational electronic commerce company. It was one of the first American Ecommerce companies to sell over the internet. Ecommerce has multiple advantages over “brick and mortar” and order catalogues. With Ecommerce customers can...
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...Coca – Cola’s history in brief: Coca-Cola is a carbonated soft drink sold in stores, restaurants, and vending machines in more than 200 countries. It is produced by The Coca-Cola Company of Atlanta, Georgia. Coca-Cola Enterprises, established in 1986, is a young company by the standards of the Coca-Cola system. Yet each of its franchises has a strong heritage in the traditions of Coca-Cola that is the foundation for this company. The Coca-Cola company traces it’s beginning to 1886, when an Atlanta pharmacist, Dr. John Pemberton, began to produce Coca-Cola syrup for sale in fountain drinks. However the bottling business began in 1899 when two Chattanooga businessmen, Benjamin F. Thomas and Joseph B. White head, secured the exclusive rights to bottle and sell Coca-Cola for most of the United States from The Coca-Cola Company. The Coca-Cola bottling system continued to operate as independent, local businesses until the early 1980s when bottling franchises began to consolidate. In 1986, The Coca-Cola Company merged some of its company-owned operations with two large ownership groups that were for sale, the John T.Lupton franchises and BCI Holding Corporation's bottling holdings, to form Coca-Cola Enterprises Inc. The Company offered its stock to the public on November 21, 1986, at a split-adjusted price of $5.50 a share. On an annual basis, total unit case sales were 880,000 in 1986. In December 1991, a merger between Coca-Cola Enterprises and the Johnston...
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...identify the benefits and the risks of implementing these technologies. In order to succeed and grow in today’s ever-changing business environment it is critical to keep up with changes in new technologies. To be competitive and continue advancing in marketing we must ensure that our staff has the competitive advantage by being able to utilize the latest technologies and data management tools that are available. Our goal as a company is to be able to meet the ever-changing demands of the customer by equipping our staff with the latest marketing data, communication data, and reporting data. Having these abilities would allow for us to research any topic effectively and efficiently. We must also have a platform that allows our internal staff to share sales and marketing information across all of the departments, both in office and out in the field. Customer interaction must be optimized through emails, video conferencing and phone calls. In order to accomplish our goals here at Party Plates we have put together the utilization of two wireless options that we think will help increase business in an effective and streamlined way. For the wireless technologies implementation we have choose to implement the Samsung Galaxy 3 tablet and Galaxy 4 smart phone. The reason we chose these two wireless devices is because it is a necessity to stay connected in todays business world. Two ways in which we can...
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...Information systems INF 220 Wiley I Post Christopher Powell Information systems are changing the way we do business around the world; it has helped us communicate with people and corporations around the world. I will be answering the question provided to the best I can. 1. How are information systems transforming business and what is their relationship to globalization? a. Information systems provide real time access of information, this is transforming businesses. Companies are connected to data, and people this is how Information systems are related to globalization this makes information easier to get to. 2. Why are information systems so essential for running and managing a business today? a. An effective and responsible use of information systems by management and businesses is important knowledge needed for workers in today's information society. One of the important components for a business and other organizations is Information systems and technologies. Information systems has become a vital field of study in business administration and management, they are considered a major area in business operations in management. 3. What exactly is an information system? How does it work? What are its people, organization, and technology components? a. Information system as a set of components that work together to collect, process, store, and disseminate information to support decision making in; coordination, control, analysis, and visualization in a...
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...the elements of a company’s marketing environment and why marketers play a critical role in tracking environmental trends and spotting opportunities. a. A company’s marketing environment consists of the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers. Like Xerox, companies constantly watch and adapt to the changing environment. b. More than any other group in the company, marketers must be environmental trend trackers and opportunity seekers. Although every manager in an organization should watch the outside environment, marketers have two special aptitudes. They have disciplined methods-marketing research and marketing intelligence-for collecting information about the marketing environment. They also spend more time in customer and competitor environments. By carefully studying the environment, marketers can adapt their strategies to meet new marketplace challenges and opportunities. 2. List some of the demographic trends of interest to marketers in the United States and discuss whether these trends pose opportunities or threats for marketers. a. Changing Age Structure of the Population Changing American Family Geographic Shifts in Population A better-educated, more white-collar, more professional population Increasing diversity b. The first trend( The changing age structure of the population)...
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...Thoughts of Management Gurus Case Analysis On MARKETING MYOPIA By Theodore Levitt Introduction Marketing myopia is a term used in marketing as well as the title of an important marketing paper written by Theodore Levitt. This paper was first published in 1960 in the Harvard Business Review; a journal of which he was an editor. One of the most important marketing papers ever written was that on ‘Marketing Myopia’ by Theodore Levitt. Some commentators have even gone as far as to suggest that its publication marked the beginning of the modern marketing movement in general. Its theme was that the vision of most organizations was constricted in terms of what they, too narrowly, saw as the business they were in. It exhorted CEOs to re-examine their corporate vision; and redefine their markets in terms of wider perspectives. Myopia means short-sightedness and Levitt claims most failures of firms are due to short-sighted lack of vision in top management. His view of marketing is long-range vision, anticipation of change, and planning for the future. There are numbers of companies and whole industries that went bankrupt or nearly failed due to lack of vision. It was successful in its impact because it was, as with all of Levitt's work, essentially practical and pragmatic. Organizations found that they had been missing opportunities which were plain to see once they adopted the wider view. The impact of the paper was indeed dramatic...
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...Richard A.L. Caldarola, Professor BUS 508: The Business Enterprise Strayer University Summer 2010 Destination CEO: Nordstrom Abstract Given a business situation describing a company’s product and general business strategy, complete the actions below and prepare a 3-4 page report with your recommendations: 1. Since Nordstrom’s (p. 402) competes in the U.S., give an example of each of the marketing environment forces (Political, Legal, and Regulatory; Technological; Social; and Competitive and Economic Forces). 2. Discuss the impact of the forces on marketing the department store (positive or negative). 3. Recommend how the company should take advantage of or respond to each of the marketing environment force examples (Political, Legal, and Regulatory; Technological; Social; and Competitive and Economic Forces). 4. Assume the company is planning to open stores in a new foreign market area, Mexico. Recommend an overall promotional (integrated marketing communication) strategy to support the market entry (major actions, general sequence). 5. Outline at least one marketing (distribution) channel that could be used to reach buyers in this foreign market. Provide supporting rationale. . 1. Since Nordstrom’s (p. 402) competes in the U.S., give an example of each of the marketing environment forces (Political, Legal, and Regulatory;...
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...A brief summary of marketing and how it works Marketing and the 7Ps: A brief summary of marketing and how it work “ Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably.” 2 Marketing and the 7Ps – © CIM 2015 Marketing and the 7Ps: A brief summary of marketing and how it work 01 is marketing? What Every product we buy, every store we visit, every media message we receive and every choice we make in our consumer society has been shaped by the forces of marketing. CIM (The Chartered Institute of Marketing) offers the following definition for marketing: “ The management process responsible for identifying, anticipating and satisfying customer requirements profitably.” Sometimes people assume marketing is just about advertising or selling, but this is not the whole story. It is a key management discipline that ensures producers of goods and services can interpret consumer desires and match, or exceed them. The marketing process is central to the business performance of companies, both large and small, because it addresses the most important aspects of the market. It is about understanding the competitive marketplace and ensuring you can tap into key trends, reaching consumers with the right product at the right price, place and time. Clever marketing has led to many recent business success stories - from pharmaceuticals to airlines, sports brands to food and...
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...‘The only good is knowledge and the only evil is ignorance’.-Socrates .Management and organization is changing. Knowledge in management is very important. Good managers are becoming leaders not bosses, they are using knowledge to build learning organization and stimulates cultural change and innovation. The world is changing, what has been taught in business schools could become no longer relevant in future business word. In the traditional world of work the job of the manager was to control and limit people, seek for stability and productivity, but the way we work is overdue for change. Businesses wants to increase productivity and efficiency, attract the best people with specific skills for the job. Using the new technology companies wants to cut cost and create a greater freedom for their employees. Today, the need to encourage innovation and achieve high productivity, which has different skills, we need to engage employees hearts and minds as well as their work - the need to build trust, inspire commitment, lead changes, harness human creativity and enthusiasm, seek common visions and values sharing information and power. Teamwork, cooperation, participation and learning as guiding principles. Managers need to focus on developing, rather than control. Management is very complex job and requires a whole range of skills. Young people are most innovative and creative and the most suitable to bring new ideas. This is why education is very important...
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...THE CHANGING ROLE OF THE MARKETING PROFESSIONAL IN A COMPETITIVE CAREER DRIVEN MARKET A research report presented to IMM Graduate School of Marketing In partial fulfilment of the Postgraduate Diploma By Gerhardus Francois Nel Student Number: N67513 July 2012 Supervisor: Dr Sidney Shipham Executive Summary The marketing profession worldwide has for the last decade been under pressure to show its worth. Marketers are finding it harder to show value and at an executive level, this is even more pronounced. The lack of being able to show clear return on investment in their activities has meant that many marketers and indeed marketing departments are being questioned as to their role in the fulfilment of the business strategy. In the light of all this negative attention, marketers themselves have not branded themselves as strategically important and through the ever increasingly complex role of a marketer today, the gap between how marketers are viewed by their counterparts and how they view themselves, has begun to show. In an effort to establish how marketers view themselves, their perceptions of their value and how that impacts on their career advancement and acceptance at an executive level, the research aims to highlight the need for a professional marketing standard in which marketers can gain a positive impression of themselves and the profession in general. Simply having a recognised qualification will obviously not be the only solution but the subsequent understanding...
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...Statement: “Our mission is to achieve or enhance clear leadership, worldwide, in the existing or new core consumer product categories in which we choose to compete”. SWOT ANALYSIS: Strengths: * They are undisputed market leader as they have the greatest market share all over the world. * They have been performing for more than hundred years so they have very sound goodwill in the market. * They have a very big distribution system. Their products are sold all over the world and people purchase their products by asking the name of Gillette. * Their research and development centers are very efficient and effective. They are very innovative. All the time they are introducing new differentiated products with high quality and more customer satisfaction. * Their adve0rtising campaigns are very attractive and customer attention seeking. * They are very much concerned about their customers. * They have diversified business with 85 product categories that reduces risk and increases profitability. * Good displays and presentation of their products in Retail Stores make them prominent among their competitors. * They upgrade their products according to the changing environment keeping in view their customer’s need. For example, they launched shaving foams, dry shaving systems which are time efficient and easy to use. * They take maximum social responsibilities for environment and society. In this way, they contribute a lot to the society. They are...
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...Global Marketing Case Study | AbstractThe confectionary industry is becoming intensely competitive and so, the Hershey Company needs to continue to strengthen brand loyalty to stay competitive in a growing and changing global market. Hershey’s has increased the value proposition of chocolate and snacking in the minds of consumers by producing a variety of flavors and product choices that are marketed to targeted audiences in targeted segments through specific channels of communication. The company’s strategic focus on aligning marketing strategies with changing consumer preferences has led Hershey’s to expand their integrated marketing communications plan into social media channels and produce innovative new products for the health-conscious consumers. Rebecca Simmons MBA FP-6012 Assessment 5 | The Hershey Company An Integrated Global Marketing Case Study | AbstractThe confectionary industry is becoming intensely competitive and so, the Hershey Company needs to continue to strengthen brand loyalty to stay competitive in a growing and changing global market. Hershey’s has increased the value proposition of chocolate and snacking in the minds of consumers by producing a variety of flavors and product choices that are marketed to targeted audiences in targeted segments through specific channels of communication. The company’s strategic focus on aligning marketing strategies with changing consumer preferences has led Hershey’s to expand their integrated marketing communications...
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...chapter 1 Marketing in a Changing World: Creating Customer Value and Satisfaction ROAD MAP: Previewing the Concepts Fasten your seat belt! You’re about to begin an exciting journey toward learning about marketing. To start you off in the right direction, we’ll first define marketing and its key concepts. Then, you’ll visit the various philosophies that guide marketing management and the challenges marketing faces as we move into the new millennium. The goal of marketing is to create profitable customer relationships by delivering superior value to customers. Understanding these basic concepts, and forming your own ideas about what they really mean to you, will give you a solid foundation for all that follows. After studying this chapter, you should be able to 1. define what marketing is and discuss its core concepts 2. explain the relationships between customer value, satisfaction, and quality 3. define marketing management and understand how marketers manage demand and build profitable customer relationships 4. compare the five marketing management philosophies 5. analyze the major challenges facing marketers heading into the next century Our first stop: Nike. This superb marketer has built one of the world’s most dominant brands. The Nike example shows the importance of — and the difficulties in — building lasting, value-laden customer relationships. Even highly successful Nike can’t rest on past successes. Facing “big-brand backlash,” it must now learn how to be both big...
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...5 Ways to Succeed in Today’s Technology-Driven World I have learned some valuable considerations about marketing by leveraging technological advancements while reading the article “5 Ways to Succeed in Today’s Technology-driven World” by Bart Foster posted on August 6th on the website Mediapost.com. His article outlines how technology is changing the face of the healthcare industry by way of data digitalization, mobile applications, and self-service customer platforms. He argues that healthcare companies should pay attention to the importance of technology driven marketing not only for the benefits of aiding their clients/patients but also so they can ride the tide of the social media and data cloud technology. Conventional marketing techniques are becoming outdated and, according to a source of the article, chief marketing officers will be budgeting more for technology than Chief Information Officers by the year 2017. According to Mr. Foster’s article, healthcare companies must take full advantage of their technology by reaching the following five goals. First, professionals need to get technical with their understanding so as to ensure a full understanding of the possibilities of the benefits of technology rather than only relying on their technology department to serve in this capacity. Secondly, executives need to embrace collaboration. Chief marketing officers and chief information officers are working more and more together in a daily operational setting with...
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