market environment(3)
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Transcript of market environment(3)
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Scanning of MarketEnvironment
Reported by: Jesse-Ann CalzadoraMaria Feliza Parias
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Market Environment
is a marketing term and refers to all of theforces outside of marketing that affectmarketing managements ability to buildand maintain successful relationships withtarget customers.
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Th ree key perspectives on t h e marketingenvironment
- 'internal environment '.- 'micro -environment, ' - 'macro -environment '
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Market Environment C h art
SWOT
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B . Microenvironment
A ll forces that are close to the company and affectits ability to serve its customers.
It includes:
CompanyS uppliersMarketing IntermediariesCustomer MarketsCompetitorsPublics
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Company
A ll departments
S uch as:
- Management- Finance- A ccounting- Research and Development- Purchasing- O perations- Etc.
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S uppliers
- of a company are also an important aspectof the microenvironment because even theslightest delay in receiving supplies canresult in customer dissatisfaction.
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Market Intermediaries
- Resellers - are those that hold and sell the companysproduct.
- Physical Distribution Firms -are places such aswarehouses that store and transport the companysproduct from its origin to its destination.
- Marketing S ervice A gencies - are companies that offer services such as conducting marketing research,advertising, and consulting.
- Financial Intermediaries
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Customer Market
- consumer markets - who buy goods and services for their own personal use or use in their household.
- business markets - include those that buy goods andservices for use in producing their own products to sell.
- reseller markets - which includes businesses that purchasegoods to resell as is for a profit.
- government market - consists of government agencies thatbuy goods to produce public services or transfer goods toothers who need them.
- International markets - include buyers in other countries andincludes customers from the previous categories.
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Competitors
- also a factor in the microenvironment andinclude companies with similar offerings for
goods and services.
- T o remain competitive a company mustconsider who their biggest competitors arewhile considering its own size and position inthe industry.
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Publics
- T he final aspect of the microenvironment is publics, which is any group thathas an interest in or impact on the organizations ability to meet its goals.
- For example:
- Financial publics - can hinder a companys ability to obtain fundsaffecting the level of credit a company has.
- Media publics - include newspapers and magazines that can publisharticles of interest regarding the company and editorials that may influencecustomers opinions.
- Government publics - can affect the company by passing legislation andlaws that put restrictions on the companys actions.
- Citizen -action publics - include environmental groups and minority groupsand can question the actions of a company and put them in the public
spotlight.
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Publics
- Local publics - are neighborhood and communityorganizations and will also question a companys impact onthe local area and the level of responsibility of their actions.
- General public - can greatly affect the company as anychange in their attitude, whether positive or negative, cancause sales to go up or down because the general public isoften the companys customer base.
- Internal publics - include all those who are employed withinthe company and deal with the organization andconstruction of the companys product.
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Demography
- refers to studying human populations interms of size, density, location, age,gender, race, and occupation.
- Each classification has differentcharacteristics and causes they findimportant. T his can be beneficial to a
marketer as they can decide who their product would benefit most and tailor their marketing plan to attract that segment.
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Economy
- T his refers to the purchasing power of potential customers and the ways in whichpeople spend their money. W ithin this areaare two different economies, subsistenceand industrialized.
- S ubsistence economies are based more in
agriculture and consume their ownindustrial output. Industrial economies havemarkets that are diverse and carry manydifferent types of goods.
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Natural Environment Forces
- T his includes the natural resources that acompany uses as inputs and affects their
marketing activities.
- T he concern in this area is the increasedpollution, shortages of raw materials andincreased governmental intervention.
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T echnological Environment
- is perhaps one of the fastest changingfactors in the macroenvironment.
- T his includes all developments fromantibiotics and surgery to nuclear missilesand chemical weapons to automobiles andcredit cards.
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Culture
- is the cultural environment, which consistsof institutions and basic values and beliefs
of a group of people.
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SWOT A N A LYS IS
- (S trength, W eaknesses, O pportunities & T hreats)
- It is a first stage of planning and helps marketers tofocus on key issues.
- S wot analysis is a strategic planning method usedto evaluate S trength, W eaknesses, O pportunitiesand T hreats involved in a project or in a businessventure.
- S wot was introduced by A lbert Humphrey.
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SWOT A nalysis Chart
BENEFICIAL HARMFUL
INTERNALENVIRONMENT
STRENGTH WEAKNESSES
EXTERNALENVIRONMENT
OPPORTUNITIES THREATS
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2 Factors of SWOT A nalysis
Internal environment- things that we can control.- consist of strength and weaknesses
External environment
- things that we cannot control.- consist of opportunities and threats.
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K ey Questions
ST REN GT HW hat advantages do you or your company have?W hat do you better than anyone else?
W hat your people in your market see your strength?
W E AK NE SS ES
W hat could you improve?W hat do you avoid?W hat factors lose your sales?W hat do outside see as your weaknesses?
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K ey Questions
O PP O RTU NIT IESW hat interesting trend you whereof?W hat opportunity might arise from change intechnology, government, policy, economic andsocial?
T HRE A TSW hat obstacles you and your company fail?W hat do your competition doing that you shouldworried about?
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SWOT M A T RIX
matching and converting
S W
O S -O W -O
T S -T W -T
S -O strategies - pursue opportunities that are a good fit to the companysstrength. Finding competitive advantage of the company.W -O strategies overcome weaknesses to pursue opportunities.S -T strategies identify ways that the firm can use its strengths to reduce itsvulnerability to external threats.W -T strategies establish a defensive plan to prevent the firms weaknesses
from making high susceptible to external threats.
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S teps in doing SWOT A nalysis
*W hen you making list be precise and prioritize tothe most important points.
1. List all strength and weaknesses that exist now.B e realistic
2 . List all opportunities and threats that exist in thefuture.
3. Review your SWOT analysis in creating anaction to address each 4 areas.
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Example of SWOT A nalysis
EX. O F SWOT A N A LYS ISW A LM A RT
Internal Environment A . S trength
A 1.Management - are committed in providing state -of -the -arttraining resources and development to help their employeesin achieving their career objective.
- very strong community based initiative. A2 .Marketing - Low Prices
- one stop shop A 3. Finance - W almart is respectable in financialposition so they attract and retain employees.
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Example of SWOT A nalysis
B . W eaknessesB 1. Management societal demand for equity. Fewfemale are in the top management.
B2 . Finance they have asset that they are notused at this point in time.
- collection of doubtful accounts.
B 3. Production/ S ervice slow check out service.
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Example of SWOT A nalysis
External Environment
C. O pportunitiesC1.Economic availability of free trade zone.
C2 . S ocial, Cultural and Environmental anopportunity facing the industry is thatcustomer want ease of shopping.
C3. Political, Legal and Government anopportunity facing the industry is that A sianmarket virtually untapped by the retail world.
C4. T echnological an opportunity facing theindustry is that internet is growing
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Example of SWOT A nalysis
D. T hreatsD1.Economic nowadays the economic growth is slow.
D2 . S ocial, Cultural and Environmental a threat is acustomer theft / employees theft.
D3. Political, Legal and Government A threat is theChinese Regulation. China does not want to openany foreign business in their country.
D4. T echnological a threat is that because of technological advances product that they sell become
obsolete.
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Example of SWOT A nalysis
ST R A T EGIES :
S -O Expansion of business globally.
W -O Create project planning for the unused assets A dditional employees assign to counter department for customer convenience.
S -T B uy CC TV camera to avoid or minimize theft.
W -T O ffer commissions or bonus scheme toemployees.
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T hank you