The Marketing Environment

1
The Marketing Environment
2
The Marketing Environment Includes

• The 5 Cs
• Company core competencies (you cant know what
  you do well without understanding the other four
  Cs)
• Customers
• Competitors
• Collaborators
• Context

3
Core Competencies

• A thorough analysis of the company is critical to
  strategic development
• When you get in the car to go somewhere, what do
  you do if you dont know where youre going, and
  where you are currently?
• A map (or business plan) must have a starting
  point and a destination

4
Customers

• Your customers are a big part of your business
  destination (along with other business objectives
  i.e.. profit).
• Determining who you are selling to up and down
  the distribution channel is critical to effective
  business.
• How do you determine who your customers are (or
  should be)?

5
Competitors

• You cant identify how well you serve your
  customers without understanding how well someone
  else may serve them.
• Point of thought In examining customer
  satisfaction, what is the goal, outperforming the
  competition, or complete customer satisfaction?

6
Collaborators

• Business partners can be critical to efficiently
  and effectively meeting customer needs.
• Partners can also become a source of tension and
  can become competitors.
• Choose collaborators that possess different core
  competencies than your organization posses.

7
Context Environmental Forces

• Social demographic and cultural changes
• Economic consumer income, consumer sentiment
• Technological
• Competitive direct and indirect competitors
• Regulatory laws and self-regulation

8
Social Forces Questions

• Who is my target market?
• How do I reach them?
• How are they changing?
• Should I consider others?
• Will my strategy apply in other markets?

9
Economic Forces Questions

• What is my target markets financial situation?
• What is their likelihood of spending in my
  product category?

10
Technological Forces Questions

• How is technology changing my product category?
• How is technology changing our way of doing
  business?
• Can we keep up with new technological
  developments?
• What is the impact of technological change on our
  customer base?

11
Competitive Forces Questions

• Who are our competitors (direct and indirect)?
• How do they serve their customers?
• What are their core competencies?
• Who are other potential competitors?
• What are the barriers to entry in our market
  (what would someone have to do to enter our
  market)?

12
Regulatory Force Questions

• What are the legal implications of doing business
  in our market?
• What are the legal implications of entering new
  markets?
• Have we considered all relevant Federal, State
  and Local laws?