chapter 3
TRANSCRIPT
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Prepared byPrepared byDeborah BakerDeborah Baker
Texas Christian UniversityTexas Christian University
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1.1. The importance of marketing to financial The importance of marketing to financial institutionsinstitutions
2.2. The need for an understanding of the marketing The need for an understanding of the marketing environmentenvironment
3.3. The approaches to analyzing macro, market and The approaches to analyzing macro, market and internal environmentinternal environment
4.4. How SWOT analysis can be used to help How SWOT analysis can be used to help understand the results of environmental analysis understand the results of environmental analysis
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The Organization
The market environment
The macro environment
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This is concerned with broad general trends within the economy and society.
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Political
The organizationEconomy Technology
Social /cultural
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•Cover a range of issues including party politics.•The political character of
the government.•Regulatory system.
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Covers all relevant aspect of a society e.g.
demographics, culture, values, lifestyle, attitudes
etc.
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•This is being familiar with the latest hi-tech innovations.
•Technology affects not only the type of products available but also the ways in which people organize their lives and the ways in which goods and services can be marketed.
•It enables distribution channel.
•Offer many benefits to certain customer segments.•
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‘Poters’ five force analysisThreat of institutes
Bargaining power of suppliers
Bargaining power of buyers
Threat of new entrance
Competitive rivalry
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•Powerful supplier can force up prices an organization pays for its inputs
•Extent of the suppliers’ ability to influence price will cost
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•Powerful customers can bring price down to unfavorable level
•Customers bargaining power differ considerably
•Individual bargaining power is relatively weak in personal market
•Large business have strong bargaining power in corporate market
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•Customers choice is enhanced when products that are close substitutes exist.
•Consumers’ bargaining power is thus enhanced
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This is the area which the firm can exercise greatest control.Have an understanding of resources at the organization's disposal.Should consider the corporate culture.
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strength
weakness opportunity
threat
Environmental analysis
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Is any particular skill or distinctive competence that
will help the organization achieve it objectives.
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This describes any aspect of the organization that may hinder the achievement of
specific objectives.
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Any feature of the external environment that is advantageous to the
organisation,given its objectives.
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Is any environmental development that will create
problems for an organization in achieving it
specific objectives.
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