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C570 Lesson 2 Week 2

Analyzing the Marketing Environment and its Impact on Companies and Consumers
by

John Talbott

on 13 September 2010

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Transcript of C570 Lesson 2 Week 2

Lesson 2 Week 2:
The Marketing Environment and Market Research Obsess over the Consumer Every Day is Day 1 Think Long Term! Invent "Consumers around the world vary tremendously in
age, income, education level, and tastes. They also buy
an incredible variety of goods and services. How these
diverse consumers relate with each other and with other
elements of the world around them impacts their choices among
various products, services, and companies." Armstrong/Kotler
9th Edition The purpose of Market Research is to understand what are the drivers of consumer purchase behavior. The Macro-Environment Buyer Decision Process Figure 5 Page 102
Armstrong/Kotler
9th Edition Information
Search Evaluation
of
Alternatives Purchase Decision Post Purchase
Behavior Outside
the control of the company Predict
Plan
Prepare
Respond The Company can influence
its Micro-Environment. Mission
Partnership
Value Creation
For your company:
Macro: Several examples of how technology, politics, or cultural preferences might affect your company and it’s marketing strategy
Micro: Example of a supplier, a channel partner, and a competitor. Class Exercise The Micro-Environment Consumer Behavior Influences and Stimuli Culture
Peers
Groups
Beliefs
Demographic Lifestyle changes Inputs Consumer Black Box Outputs Purchase Behavior Cognitive Dissonance Marketing $$ Purchase
Influence Why do marketers devote a disproportionate amount of Advertising dollar to your demographic? Technology and Everett Rogers Awareness
Interest
Evaluation
Trial
Adoption Your Purchases See you in Breeze on
Tuesday night.
Full transcript