www.mhhe.com/fourps for use only with perreault/cannon/mccarthy or perreault/mccarthy texts. © 2008...
TRANSCRIPT
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www.mhhe.com/fourps
For use only withPerreault/Cannon/McCarthy or Perreault/McCarthy texts.© 2008 McGraw-Hill Companies, Inc.McGraw-Hill/Irwin
Evaluating opportunities inthe Changing Marketing Environment
Evaluating opportunities inthe Changing Marketing Environment
CHAPTER FOUR
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When we finish this lecture you should
1. Know the variables that shape the environment of marketing strategy planning.
2. Understand why company objectives are important in guiding marketing strategy planning.
3. See how the resources of a firm affect the search for opportunities.
4. Know how the different kinds of competitive situations affect strategy planning.
5. Understand how the economic and technological environment can affect strategy planning.
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When we finish this lecture you should
6. Know why you might be sent to prison if you ignore the political and legal environment.
7. Understand the cultural and social environment and how key population trends affect strategy planning.
8. Understand how to screen and evaluate marketing strategy opportunities.
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MARKETMARKET
Marketing Strategy Planning, Competitors, Company, & External Market Environment (Exhibit 4-1)
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Evaluating OpportunitiesEvaluating Opportunities•Screening criteriaScreening criteria•Planning gridsPlanning grids•Planning for multiple productsPlanning for multiple products
Company•Objectives•Resources
Competitors•Current•Prospective
External Marketing Environment•Economic•Technological•Political & Legal•Cultural & Social
Best opportunities to pursueBest opportunities to pursue
Marketing Strategy Planning, Competitors, Company, & External Market Environment (Exhibit 4-1)
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Resourcesand Objectives
of the Firm
CompetitiveEnvironment
The Marketing Environment
Cultural andSocial
Environment
EconomicEnvironment
TechnologicalEnvironment
Political andLegal Environment
External Marketing Environment
Direct Marketing Environment
TargetTarget
CustomersCustomers
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Socially and Economically
Useful Function
Socially and Economically
Useful Function
Socially and Economically
Useful Function
Socially and Economically
Useful Function
Develop an OrganizationDevelop an
OrganizationDevelop an
OrganizationDevelop an
Organization
Earn ProfitEarn Profit
Objectives Set Firm’s Course
ThreeBasic Objectives
ProvideGuidelines
ThreeBasic Objectives
ProvideGuidelines
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Company Objectives
Company Objectives
Production Objectives
Production Objectives
Finance Objectives
Finance Objectives
Marketing Objectives
Marketing Objectives
HR Objectives
HR Objectives
R&D Objectives
R&D Objectives
Hierarchy of Objectives (Exhibit 4-2)
MissionStatementMission
Statement
Product Objectives
Product Objectives
Place Objectives
Place Objectives
Price Objectives
Price Objectives
Production Objectives
Production Objectives
Finance Objectives
Finance Objectives
HR Objectives
HR Objectives
R&D Objectives
R&D Objectives
Promotion Objectives
Promotion Objectives
Personal Selling Objectives
Personal Selling Objectives
Mass Selling Objectives
Mass Selling Objectives
Sales Promotion Objectives
Sales Promotion Objectives
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Financial StrengthFinancial Strength
Producing Capability and Flexibility
Producing Capability and Flexibility
Financial StrengthFinancial Strength
Producing Capability and Flexibility
Producing Capability and Flexibility
Company Resources May Limit Search for Opportunities
Marketing StrengthsMarketing Strengths
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Marketing Strengths
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MonopolyMonopoly Monopolistic CompetitionMonopolistic Competition OligopolyOligopolyMonopolyMonopoly Monopolistic CompetitionMonopolistic Competition OligopolyOligopoly
The Competitive Environment
Avoid Head-On Competition!Avoid Head-On Competition!
Know the Market Situation!Know the Market Situation!
Pure Competition
Pure Competition
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Monopolistic Competition
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© 2008 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin
Avoiding Head-on Competition
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Competitive Advantage
Competitive Advantage
Competitive Rivals
Competitive Rivals
Competitor Analysis
Competitor Analysis
KeyConcepts
KeyConcepts
Competitive Rivals
Competitive Rivals
Competitive Advantage
Competitive Advantage
Competitor Analysis
Competitor Analysis
Analyzing Competition
Competitive Barriers
Competitive Barriers
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Seek Information About Competitors
Seek Information About Competitors
Ethical IssuesEthical Issues
Competition May Vary From Country To Country
Competition May Vary From Country To Country
Seek Information About Competitors
Seek Information About Competitors
Ethical IssuesEthical Issues
Competition May Vary From Country To Country
Competition May Vary From Country To Country
Direct Competition Can’t Always Be Avoided
Direct Competition Can’t Always Be Avoided
Marketers Need Information About Competitors
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A moderately-priced jewelry store is trying to differentiate itself from other jewelry stores. The store prices products somewhat lower than the super-premium jewelry stores, but offers better products and services than low-end jewelry stores provide. The market situation this store faces sounds most like:
A. pure competition.
B. monopoly.
C. oligopoly.
D. monopolistic competition.
E. oligopolistic competition
Checking your knowledge
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Chris wants to open a family-oriented restaurant in a thriving suburban area. Chris thinks a sports-based theme and broad menu will be attractive to the large number of families in the area. However, national chain restaurants, such as Chili’s, TGI Friday’s, and Applebee’s already draw large followings in the area. The existence of these chain restaurants is a significant:
A. competitive rival.B. monopoly.C. competitive barrier.D. opportunity.E. competitive environment.
Checking your knowledge
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The Economic Environment
Global EconomyGlobal Economy
KeyEconomic
Forces
KeyEconomic
Forces
Rapid ChangeRapid Change
Interest RatesInterest Rates
Rapid ChangeRapid Change
Interest RatesInterest Rates
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No one offers your No one offers your business more business more
selection than the selection than the computer store inside computer store inside
your computer.your computer.
EGGHEAD.COMEGGHEAD.COM
The Technological Environment
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Regional Economic Groupings
Regional Economic Groupings
NationalismNationalismNationalismNationalismRegional Economic Groupings
Regional Economic Groupings
The Political Environment
ConsumerismConsumerism
Characteristicsof the PoliticalEnvironment
Characteristicsof the PoliticalEnvironment
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• Sherman Act (1890)• Clayton Act (1914)• Federal Trade Commission (1914)• Robinson-Patman Act (1936)• Wheeler-Lea Amendment (1938)• Antimerger Act (1950)• Magnuson-Moss Act (1975)
The Legal Environment – Key Antimonopoly Laws
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• Federal Trade Commission (FTC)• Food and Drug Administration (FDA)• Consumer Product Safety Commission
(CPSC)• Federal Communications Commission (FCC)• Environmental Protection Agency (EPA)
““Let the Seller Beware”Let the Seller Beware”
The Legal Environment – Consumer Protection Agencies
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Rising interest rates have slowed the housing market in the United States, slowing business for real estate developers, mortgage lenders, and construction firms. This is a tend in the:
A. competitive environnent.B. technological environment.C. cultural environment.D. economic environment.E. legal environment.
Checking your knowledge
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The Cultural and Social Environment
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Other CountriesOther Countries
Current PopulationCurrent Population
Other CountriesOther Countries
Current PopulationCurrent Population
People with Money Make Markets
Search for Growing Markets
Population TrendsPopulation Trends
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Worldwide Population Growth
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Other Population Trends
Increasing Density
Increasing Urbanization
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Gross National Income(GNI)
Gross National Income(GNI)
GrossDomestic Product
(GDP)
GrossDomestic Product
(GDP)
Income earned by foreigners in the nation
Income earned by foreigners in the nation
No Money, No Market!
GNI / Country’s Population Size = Per Capita IncomeGNI / Country’s Population Size = Per Capita Income
Gross National Income(GNI)
Gross National Income(GNI)
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Where Does Your State Stand?
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Population Change (in %) By State 2000 - 2010
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Population Growing, but…
Population Growing, but…
Population Growing, but…
Population Growing, but…
Birthrate – Boom or Bust?
Birthrate – Boom or Bust?
Birthrate – Boom or Bust?
Birthrate – Boom or Bust?
Graying of America
Graying of America
Growth Trends Young and Old
Key TrendsKey Trends
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Appealing to the “Matures”
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© 2008 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin
Not Just for the Younger Generation
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© 2008 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin
Keeping Competitive in the Social-Cultural Environment
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Do
llars
Years
0 1 2 3 4 5
Product A
Years
0 1 2 3 4 5
Product B
Screening Criteria Narrow Down Strategies (Exhibit 4-9)
Total cost
Sales
Total cost
Sales
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Planning Grids Help Evaluate Portfolio Opportunities
Bu
sin
ess
Str
eng
th
Industry AttractivenessH
igh
Me
diu
mL
ow
High Medium Low
No Growth
Borderline
Growth
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Multiproduct Firms Have a Difficult Strategy Planning Job
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Insensitive Sensitive
Industrialproducts
Basiccommodity-typeconsumerproducts
Consumerproducts thatare linked toculturalvariables
Evaluating Opportunities in International Markets (Exhibit 4-11)
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© 2008 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin
Interactive Exercise: Wheel of Opportunity
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You now
1. Know the variables that shape the environment of marketing strategy planning.
2. Understand why company objectives are important in guiding marketing strategy planning.
3. See how the resources of a firm affect the search for opportunities.
4. Know how the different kinds of competitive situations affect strategy planning.
5. Understand how the economic and technological environment can affect strategy planning.
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6. Know why you might be sent to prison if you ignore the political and legal environment.
7. Understand the cultural and social environment and how key population trends affect strategy planning.
8. Understand how to screen and evaluate marketing strategy opportunities.
You now
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• Mission statement
• Competitive environment
• Competitor analysis
• Competitive rivals
• Competitive barriers
• Economic and technological environment
• Technology
• Internet
• Nationalism
• North American Free Trade Agreement (NAFTA)
• Consumerism
• Cultural and social environment
• Gross domestic product (GDP)
• Metropolitan Statistical Area (MSA)
• Senior citizen group
• Strategic business unit (SBU)
Key Terms