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The Marketing Environment. Chapter 4. Environmental Scanning. What is environmental scanning? “The process of continually acquiring information on events occurring outside the organization.” Why is it important?. Environmental Forces. Social Economic Technological Regulatory

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environmental scanning
Environmental Scanning
  • What is environmental scanning?
    • “The process of continually acquiring information on events occurring outside the organization.”
  • Why is it important?
environmental forces
Environmental Forces
  • Social
  • Economic
  • Technological
  • Regulatory
  • Competitive
social forces
Social Forces
  • Culture
    • Values
    • Attitudes
  • Demographics
    • Who is in the population and what is important to them?
culture values
Culture & Values
  • What Values are Important to Americans?
  • Changing Role of Women
  • Working Longer Hours

Source: http://www.techistan.com

the mature household
The Mature Household
  • Born before 1945
  • 23% of the population
    • 75% of country’s wealth
  • Healthcare is important issue
  • Cautious consumers
baby boomers
Baby Boomers
  • Born between 1946-1964
  • Largest group in population
    • 75 million
  • Want to age gracefully
    • Rise in cosmetic/health products
  • More brand loyal than younger groups

Source: http://www.richprice.com

generation x
Generation X
  • Born between 1965-1980
  • 17 million in U.S.
  • One parent households
  • “A lost generation”
  • “Cut teeth” on technology
  • Value religion, rituals, materialism
  • “Global teens”: Similar experiences across national boundaries

Source: http://banana1015.com

generation y
Generation Y
  • Born after 1976
  • 28% of the population
  • Grew up with technology
  • Sons and daughters of Baby Boomers
    • Politically active
  • Less racially sensitive

Source: http://teachers.net

tweens
Tweens
  • Be“tween” being a child and a teenager
  • Ages 8-12
  • $200 billion annually
  • Brand conscious
    • But not necessarily brand loyal
hispanics buying patterns
Hispanics Buying Patterns
  • Purchasing power: $1.4 trillion
  • Unity through language
  • Brand loyal
  • Influenced by families and peers
  • Also influenced by advertising
  • Highly conservative
  • Common religion
  • Opinion leaders
  • Difficulties
    • Differing backgrounds
    • Language barrier
african americans buying patterns
African-Americans Buying Patterns
  • 12% of population
  • Purchasing power: $1.2 trillion
  • Lower annual income than whites
  • “Younger” subculture
  • Technological focus
  • Increasing media presence
  • Price conscious
  • Unique buying patterns

Source: http://www.thevalueengineers.com

asian buying patterns
Asian Buying Patterns
  • Highly educated
  • Strong family ties
  • Hard working
  • Hesitant to use credit
economic forces
Economic Forces
  • “Deals with the income, expenditures, and resources that affect the cost of running a business or household”
    • Macroeconomic
    • Microeconomic
macroeconomic forces
Macroeconomic Forces
  • Deals with entire market- aggregate of all “players” within it.
    • If consumers feel they will be better off, they will buy more.
    • If consumers feel they will be worse off, they will opt to save money or be hesitant to spend it.

Source: http://www.bookbyte.com

microeconomic forces
Microeconomic Forces
  • Gross income
    • Total amount of money earned annually by an individual
  • Disposable Income
    • Money remaining after paying taxes
  • Discretionary Income
    • Money remaining after paying taxes and for necessities

Source: http://www.principlesofmicroeconomics.net

technological forces
Technological Forces
  • Becoming increasingly important
    • As technology becomes more commonplace, prices fall.
    • Designs new products or improves existing ones
    • Improves systems and flow of information
      • Internet
      • Intranet
      • Extranet
competitive forces
Competitive Forces
  • “Alternative firms that could provide a product to satisfy a specific market’s need”
    • Perfect competition
    • Monopoly
    • Oligopoly
    • Monopolistic competition
competitive forces1
Competitive Forces
  • Porter’s Model
    • Barriers to Entry
    • Buyer Power
    • Supplier Power
    • Degree of Rivalry
    • Substitutes

Source: http://notesdesk.com/notes/strategy/porters-five-forces-model-porters-model/

regulatory forces
Regulatory Forces
  • “Restrictions state and federal laws place on business with regard to the conduct of its activities.”
  • Protect customers & companies
  • Regulatory agencies
    • Consumer Product Safety Commission
    • Food & Drug Administration
    • Federal Trade Commission
regulatory forces1
Regulatory Forces
  • Place-Related Legislation
    • Exclusive dealing
    • Requirement contracts
    • Exclusive territorial distributorships
    • Tying arrangement
  • Promotion-Related Legislation
    • Federal Trade Commission
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