For those of you who use Crest Toothpaste you will never look at CREST in the same way again. Your environmental factors are…
Environmental Factors C = Competition R = Regulatory E = Economic S = Social T = Technology
CREST So…it is the CREST that rains on our flower.
Marketing Advertising Strategic business plan Products Price Promotion Place Customer O M P E T I T I O N E G U L A T I O N C O N O M I C S O C I A L C R E S TC R E S T C R E S TC R E S T
As marketers, we need to respond to our environmental factors and be proactive in our approach.
We need to know… competition What our competition is doing What new products/services they are introducing Where their growth is occurring …and RESPOND!
regulation We need to know what is happening in the area of regulation. For example, a simple increase in postage rates has a tremendous affect on marketing budgets!
economic The economic state of our nation impacts when and if we introduce new products and services.
social The social environment is changing drastically. Did you know that by 2025 Hispanics will make up the majority of our US population?
technology And, the unlimited possibilities of technology from the internet, to kiosks, to interactive strategies opens new avenues to market.
It is my hope, that as you complete this class you will: 1.See the endless marketing capabilities. 2.Proactively address the environmental factors. 3.Think out of the box!
PROFITS By accomplishing this you will be able to successfully implement, change and adapt your strategies. The sun will once again come out bringing you PROFITS!
Marketing Advertising Strategic business plan Products Price Promotion Place Customer $ Profit OMPETITIONOMPETITION EGULATIONEGULATION CONOMICSCONOMICS OCIALOCIAL C R E S TC R E S T C R E S TC R E S T
And that, my students, is the Fulmer Flower of Marketing!