252-lecture2.pptVIP

* * Business, personal, seniors, west, east. * Business, personal, seniors, west, east. * See table 3-1 in the text. Focuses on “how to do it” details. Your term project, and the essay on both exams will be to do one of these for a company. Memorize, eat, sleep, dream, and master these 8 steps. * * * * * * * * * * * * * * * * * * * * * * * Good sources include: The Wall Street Journal, The Globe and Mail and other newspapers Business Week and other magazines Statistics Canada Harvard Business Review Sloan Management Review Library books on marketing or your product Financial Post. Canadian Demographics 2002 Canadian Media Directors’ Council. Media Digest 2001-2002 Many, many, many others The External Environment macro forces are factors over which the company has no short-term control micro forces operate at the firm level the external macroenvironment affects different firms in different ways the better we understand the changing marketing environment and its effects, the better we can develop effective marketing programs Figure 2-1 Relationship-Insensitive External Environmental Forces Demographic Change most obvious change is the aging population; impact of seniors, boomers and their kids smaller families; more single-person households smaller, non-traditional households more part-time workers,dual-income households changing patterns of immigration; ethnic mix Economic Conditions consider the effect on consumers and on businesses of: recession (business cycle) changes in interest rates inflation unemployment how are consumers likely to respond? they often shop around more; store and brand loyalty suffer when consumers are uncertain about the future. Competition competition takes place at three levels: directly at the brand or store level at the level of substitute products/services other demands upon our buying power Could be from international (e.g. outsourcing). Social and Cultural Forces lifestyles, values and beliefs greater emphasis on quality of l