Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
14 Cards in this Set
- Front
- Back
|
Factors of Immediate/micro environment that affect consumers |
1. Company 2. Competitors 3. Corporate partners |
|
|
1. Company capabilities |
Successful when satisfy customer needs that match their core competencies Use SWOT to analyze attractiveness. If attractive then asses in terms of existing competencies |
|
|
2. Competitors |
Firm should understand the competitor's strengths, weaknesses , reactions. |
|
|
3. Corporate partners |
Parties that work with the focal firm are its corporate partners. Auto manufacturers collaborate with other car engine suppliers, tire and etc. |
|
|
Consumers' needs and wants and ability to purchase, depend on |
Host of factors (micro/macro) that change and evolve over time. |
|
|
Macroenv. Factors |
-Operate in the external environment 1. Culture 2. Demographics 3. Social trends 4. Technological advances 5. Economic situation 6. Political regulatory environment |
|
|
1. Culture |
The challenge of marketers is to have products identifiable by and relevant to a particular group of people. When firms develop their marketing strategies, they should take into consideration two dimensions of culture: culture of the country and that region within a country. |
|
|
2. Demographics |
Characteristics of human populations: age , gender race. Provides snapshot of the typical consumer in a specific target market. Generational cohorts Income Ethnicity Education, gender |
|
|
Generational cohort |
Group of people of the same generation- similar purchase behaviors bc they have shared experiences and in the same stage of life . Age groups can identify appropriate media j which firms should advertise |
|
|
4 major groups\generational cohorts |
1. Generation Z- Digital Natives (2001-2014; age 0-13) 2. Generation Y- Millennials (60 million ppl; 1977-2000; age 14-37) - children of baby boomers; biggest cohort since WWII; varies in age-adults, teenagers 3. Generation X- 1965-1976; 38-49; latchkey children-both parents worked. 50 of them have divorced parents. 4. Baby Boomers - 1946-1964; 50-68; 50 plus consumers. |
|
|
Generational cohort |
Group of people of the same generation- similar purchase behaviors bc they have shared experiences and in the same stage of life . Age groups can identify appropriate media j which firms should advertise |
|
|
4 major groups\generational cohorts |
1. Generation Z- Digital Natives (2001-2014; age 0-13) 2. Generation Y- Millennials (60 million ppl; 1977-2000; age 14-37) - children of baby boomers; biggest cohort since WWII; varies in age-adults, teenagers 3. Generation X- 1965-1976; 38-49; latchkey children-both parents worked. 50 of them have divorced parents. 4. Baby Boomers - 1946-1964; 50-68; 50 plus consumers. |
|
|
Modern gender roles |
- Women today outperform men scholastically, earn higher grades on avrg, and graduate from both high school and college at greater rates. - 15% married women earn more in western economies |
|
|
Green marketing (under social trend- macro factor) |
Supply customers with environmentally friendly, sustainable services. |
