Session v Marketing Environment

8/7/2019 Session v Marketing Environment

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INDUSTRY ANALYSIS


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Industry Analysisy Its a market strategy tooly Its is used by businesses to determine if they want to enter a

product or service markety

Its an analysis of various factors that affects the business


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The Environment


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INTERNAL ENVIRONMENTy Organisational Resources

y Physicaly Financialy

Humany Visiony Missiony Goaly Objectivey Plany Policies and Procedure


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External Environment

MICRO ENVIRONMENT MACRO ENVIRONMENTy Customersy

Competitorsy Suppliersy Bankersy Creditorsy Shareholders

y Socialy

Politicaly Economicy Culturaly Technologicaly Legaly Demographic


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COMPETITIVE ENVIRONMENTy A company has to identify and

define the scope of businessand competitors with whom it islikely to compete in the market.

y A competitive environment

allows marketers to plan well inadvance about future marketingstrategy.

y The competitive environmentoften determines the success orfailure of a product.

y If the level of competition isstrong and the competitor'sproduct is better in the market,the chance of success inbusiness is low.


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Demographicy D emography is the study of population and its

characteristics.y Marketers are always interested in population related

growth indices because eventual market growth ratein the long run depends largely on growth of population.y Gendery Income


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PEST ANALYSIS

TECHNOLOGICA L

SOCIO - CULTURA L

ECONOMICPOLITICA L


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Politicaly Ecological/Environmental issuesy Current legislation home markety Future legislationy Government policies, Term and changey Trading policiesy Funding, grants and initiatives


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Economicaly Home economy situationy Home economy trendsy Taxation specific to product/servicesy Seasonality/weather issuesy Market and trade cyclesy Specific industry factors

y Market routes and distribution trends


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Socialy Social environment has maximum direct effect on

consumers. Social forces shape consumption habit of people.

y Lifestyle trendsy Consumer attitudes and opinionsy Media viewsy Brand, company, technology imagey Consumer buying patternsy Fashion and role modelsy Major events and influencesy Buying access and trendsy Ethnic/religious factors


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CULTURALy Cultural factors influence consumer's beliefs, values and norms.y Culture is the complex whole that includes knowledge, belief, art,

morals, laws, custom and any other capabilities and habits acquired bya consumer as a member of the society.

y Its a distinct way of life of a group of people and their complete designof living.

y People are using products and services, which are mostly western.y These are reflected in our food habits, dressing patterns, choice of

fashion garments and also in the way of living.y The degree of permissibility has increased substantially after the

opening up of economy and the younger generations are found to bemore westernized than the older generations.

y Growth of multiplexes, large shopping malls, beauty parlors, discosand use of western outfits are examples of how cultural factors caninfluence the marketing decisions of a firm.


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Technologicaly Competing technology developmenty Research fundingy A ssociated/ dependent technologiesy Replacement technology/solutionsy Maturity of technologyy Manufacturing maturity and capacityy Information and communicationsy Consumer buying mechanisms/ technologyy Technology access, licensing, patents


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Same Analysis but with differentNamesy Scanning the Business Environment Francis J.A guilar

y ETPSy Strategic Trend Evaluation Process A rnold Brown

y

STEPA

nalysisy Macro External EnvironmentalA nalysis

y STEPE Ecologicaly PESTLE Legal and Ecologicaly

PEST G (Green)y PEST E (Environment)

Session v Marketing Environment

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