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MARKETING Golden CHAPTER 3
MARKETING MARKETING ENVIRONMENTENVIRONMENT
Consists of external forces that directly or indirectly influence an organization’s acquisition of inputs (financial, human, natural, and information) and creation of outputs (products).
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MARKETING Golden CHAPTER 3
COMPETITIVE FORCESCOMPETITIVE FORCES Competition: Other
organizations that market products similar to or that can be substituted for a marketer’s products in the same geographic area.
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MARKETING Golden CHAPTER 3
TYPES OF COMPETITIONTYPES OF COMPETITION
• Brand Competitors (Pepsi –vs- Coke)• Product Competitors (Pepsi –vs-
Snapple)• Generic Competitors (Pepsi –vs- Tap Water)• Total Budget Competitors (Pepsico –vs- Proctor & Gamble)
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MARKETING Golden CHAPTER 3
COMPETITIVE COMPETITIVE STRUCTURESSTRUCTURES
• Monopoly: No close substitutes and organization is sole source of supply.
• Oligopoly: A few sellers dominate.• Monopolistic: Many potential
competitors trying to develop a differential marketing strategy.
• Pure Competition: Large number of sellers with none strong.
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MARKETING Golden CHAPTER 3
ECONOMIC FORCESECONOMIC FORCES• Prosperity: Low unemployment &
high income• Recession: Unemployment up &
buying power down• Depression: Very high
unemployment, very low wages, and very low disposable income
• Recovery: From recession or depression to prosperity
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MARKETING Golden CHAPTER 3
BUYING POWERBUYING POWERResources such as money, goods,
and services that can be traded in an exchange.
• Income• Disposable Income• Discretionary Income• Wealth• Willingness to Spend
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MARKETING Golden CHAPTER 3
POLITICAL FORCESPOLITICAL FORCES
• Closely related to the legal and Regulatory Forces because legislation, legal decisions, and regulatory agencies are created and operated by elected officials.
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MARKETING Golden CHAPTER 3
LEGAL AND LEGAL AND REGULATORY FORCESREGULATORY FORCES
Procompetitive Legislation and Consumer Protection
– Sherman Antitrust Act (1890)– Clayton Act (1914)– FTC Act (1914)– Robinson-Patman Act (1936)– Nutrition Labeling & Education Act (1990)– Do Not Call Implementation Act (2003)
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MARKETING Golden CHAPTER 3
FEDERAL TRADE FEDERAL TRADE COMMISSION (FTC)COMMISSION (FTC)
• Regulates a variety of business practices and curbs:– False Advertising– Misleading Pricing– Deceptive Packaging & Labeling
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MARKETING Golden CHAPTER 3
SELF REGULATIONSELF REGULATION
• Better Business Bureau (BBB)
• National Advertising Review Board (NARB)
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MARKETING Golden CHAPTER 3
TECHNOLOGICAL TECHNOLOGICAL FORCESFORCES
• Technology:The application of knowledge and tools to solve problems and perform tasks more efficiently.– Physiological needs– PC– Dynamics, Reach, and Self-Sustaining
Nature– Marketing productivity
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MARKETING Golden CHAPTER 3
SOCIOCULTURAL SOCIOCULTURAL FORCESFORCES
•The influence in a society and its cultures that change people’s attitudes, beliefs, norms, customs, and lifestyles.
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MARKETING Golden CHAPTER 3
DEMOGRAPHICS AND DEMOGRAPHICS AND DIVERSITYDIVERSITY
• Increase of Older Consumers
• Singles on the Rise
• Another Baby Boom
• Rising Multicultural Nature of USA
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MARKETING Golden CHAPTER 3
CULTURAL VALUESCULTURAL VALUES
• Health Consciousness
• Family and Marriage Values
• Environmental Consciousness
• Consumerism