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Designed & developed by E4 SBA SEMESTER ONE SESSION 4 BASICS OF MARKETING- I BASICS OF MARKETING I Session 4 : Understanding external environment.

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Presentation on theme: "Designed & developed by E4 SBA SEMESTER ONE SESSION 4 BASICS OF MARKETING- I BASICS OF MARKETING I Session 4 : Understanding external environment."— Presentation transcript:

1 Designed & developed by E4 SBA SEMESTER ONE SESSION 4 BASICS OF MARKETING- I BASICS OF MARKETING I Session 4 : Understanding external environment

2 Designed & developed by E4 SBA SEMESTER ONE SESSION 4 BASICS OF MARKETING- I Learning objectives Understand the environmental forces influencing marketing decision making Understand the impact of key environmental forces on marketing decision making

3 Designed & developed by E4 SBA SEMESTER ONE SESSION 4 BASICS OF MARKETING- I External Environment Demographic Social Change Social Change Economic Conditions Economic Conditions Political & Legal Factors/ Govt. Political & Legal Factors/ Govt. Technology Competition Environmental Scanning Target Market Product Distribution Promotion Price Product Distribution Promotion Price External Environment is not controllable Ever-Changing Marketplace Ref: Marketing by Lamb

4 Designed & developed by E4 SBA SEMESTER ONE SESSION 4 BASICS OF MARKETING- I Social Factors Values Attitudes Lifestyle Social Factors Ref: Marketing by Lamb

5 Designed & developed by E4 SBA SEMESTER ONE SESSION 4 BASICS OF MARKETING- I Social factors Values : e.g. Strong family bondage, love for the family is a core value for the Indian market Attitudes : e.g. Role of women in family : User/buyer to decision maker Lifestyle : Indulging, making a statement, spend vs. save

6 Designed & developed by E4 SBA SEMESTER ONE SESSION 4 BASICS OF MARKETING- I Demographic Age distribution: 62.3% of Indian population is between 15 years to 59 years age group The rising young population in India has given rise to the internet boom and e- commerce in the country. Boom in real estate market due to double income, young nuclear families Occupation and literacy profile: Socioeconomic (SEC) is a widely expected to classify the population

7 Designed & developed by E4 SBA SEMESTER ONE SESSION 4 BASICS OF MARKETING- I Ref: Marketing Management by Saxena

8 Designed & developed by E4 SBA SEMESTER ONE SESSION 4 BASICS OF MARKETING- I Demographic Shift in income levels : There has been increasing number of population with rising incomes. (Refer next slide for the different class of income groups) Geographical changes : e.g. migration to cities : Urban population has grown from mn (1971) to mn (1991)

9 Designed & developed by E4 SBA SEMESTER ONE SESSION 4 BASICS OF MARKETING- I Income Groups Destitute: Below Rs Aspirants: Between Rs and Climbers: Between Rs and Consuming Class: Between Rs and Very Rich: over Rs Ref: Marketing Management by Saxena

10 Designed & developed by E4 SBA SEMESTER ONE SESSION 4 BASICS OF MARKETING- I Ref: Marketing Management by Saxena

11 Designed & developed by E4 SBA SEMESTER ONE SESSION 4 BASICS OF MARKETING- I Economic Factors Distribution of Consumer Income Inflation Recession Economic Areas of Concern to Marketers Ref: Marketing by Lamb

12 Designed & developed by E4 SBA SEMESTER ONE SESSION 4 BASICS OF MARKETING- I Political/Legal/Govt. factors Change in political/legal environment can have both favorable and non favorable impact on business and marketing decisions e.g. Ban on liquor, cigarette advertising can be unfavorable, but supporting government policies in case of telecom industry are a boon to the industry

13 Designed & developed by E4 SBA SEMESTER ONE SESSION 4 BASICS OF MARKETING- I Competition Competition includes direct and predicted competition The possible competitors can be predicted by analyzing firms who could enter the market because of synergy with existing products, fresh entrants in an industry with low entry barriers

14 Designed & developed by E4 SBA SEMESTER ONE SESSION 4 BASICS OF MARKETING- I Technology Technology can be a favorable as well as otherwise for marketers e.g. technological innovations make products redundant in consumer durable sector whereas technological up gradations has benefited the Indian automobile sector

15 Designed & developed by E4 SBA SEMESTER ONE SESSION 4 BASICS OF MARKETING- I Ref: Marketing Management by Saxena


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