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Chapter Objectives The Marketing Environment, Ethics, and Social Responsibility CHAPTER 3 1 2 3 4 6 7 8 Identify the five components of the marketing environment.

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Presentation on theme: "Chapter Objectives The Marketing Environment, Ethics, and Social Responsibility CHAPTER 3 1 2 3 4 6 7 8 Identify the five components of the marketing environment."— Presentation transcript:

1 Chapter Objectives The Marketing Environment, Ethics, and Social Responsibility CHAPTER Identify the five components of the marketing environment. Explain the competition marketers face and the steps necessary for developing a competitive strategy. Describe how marketing activities are regulated and how marketers can influence the political- legal environment. Outline the economic factors that affect marketing decisions and consumer buying power. Discuss the impact of the technological environment on a firm’s marketing activities. Explain how the social- cultural environment influences marketing. Describe the ethical issues in marketing. Identify the four levels of the social responsibility pyramid. 5

2 CHAPTER 3 The Marketing Environment, Ethics, & Social Responsibility ENVIRONMENTAL SCANNING AND ENVIRONMENTAL MANAGEMENT Environmental scanning Process of collecting information about the external marketing environment to identify and interpret potential trends.. Example: Consumer reluctance to eat beef after confirmation of mad cow disease was an opportunity for producers of organic beef. Environmental management Attainment of organizational objectives by predicting and influencing the competitive, political-legal, economic, technological, and social- cultural environments. Firms often create strategic alliances to combine resources and capital to compete more effectively.

3 CHAPTER 3 The Marketing Environment, Ethics, & Social Responsibility Elements of the Marketing Mix within an Environmental Framework

4 CHAPTER 3 The Marketing Environment, Ethics, & Social Responsibility Competitive environment Interactive process that occurs in the marketplace among marketers of directly competitive products, marketers of products that can be substituted for one another, and marketers competing for the consumer’s purchasing power. –Companies with a monopoly usually accept regulation in exchange for the exclusive right to serve a market segment. –Oligarchy—Limited number of sellers in an industry with high start-up costs. TYPES OF COMPETITION –Direct—among marketers of similar products. –Indirect—involves products that are easily substituted for each other. –Competition among all firms that compete for consumers’ purchases.

5 CHAPTER 3 The Marketing Environment, Ethics, & Social Responsibility Component of the marketing environment consisting of laws and their interpretations that require firms to operate under competitive conditions and to protect consumer rights. GOVERNMENT REGULATION GOVERNMENT REGULATORY AGENCIES OTHER REGULATORY FORCES CONTROLLING THE POLITICAL-LEGAL ENVIRONMENT

6 CHAPTER 3 The Marketing Environment, Ethics, & Social Responsibility

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8 Factors that influence consumer buying power and marketing strategies, including stage of the business cycle, inflation and deflation, unemployment, income, and resource availability. STAGES IN THE BUSINESS CYCLE INFLATION AND DEFLATION THE INTERNATIONAL ECONOMIC ENVIRONMENT

9 CHAPTER 3 The Marketing Environment, Ethics, & Social Responsibility Dow 13,305  (1.07%) NASDAQ 2,605  (0.92%) S&P 500 1,472  (.1.15%)

10 CHAPTER 3 The Marketing Environment, Ethics, & Social Responsibility

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12 CHAPTER 3 The Marketing Environment, Ethics, & Social Responsibility 90 Day:

13 CHAPTER 3 The Marketing Environment, Ethics, & Social Responsibility 1 Year:

14 CHAPTER 3 The Marketing Environment, Ethics, & Social Responsibility Application to marketing of knowledge based on discoveries in science, inventions, and innovations. APPLYING TECHNOLOGY

15 CHAPTER 3 The Marketing Environment, Ethics, & Social Responsibility Component of the marketing environment consisting of the relationship between the marketer, society, and culture. CONSUMERISM Basic consumer rights: to choose freely, to be informed, to be heard, and to be safe.

16 CHAPTER 3 The Marketing Environment, Ethics, & Social Responsibility Marketing ethics: Marketer’s standards of conduct and moral values

17 CHAPTER 3 The Marketing Environment, Ethics, & Social Responsibility The Four-Step Pyramid of Corporate Social ResponsibilityThe Four-Step Pyramid of Corporate Social Responsibility

18 CHAPTER 3 The Marketing Environment, Ethics, & Social Responsibility "Of the things we think, say or do: Is it the TRUTH? Is it FAIR to all concerned? Will it build GOODWILL and BETTER FRIENDSHIPS? Will it be BENEFICIAL to all concerned?"


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