Transcript BUS222day5
CHAPTER Day 5 BUS 222 Agenda Questions Assignment 1 Corrected 2 A’s, 3 B’s, 2 C’s, 4 D’s and 1 F Assignment 2 posted Due Feb 10 (1 week from today) Marketing Assignment 2.pdf Quiz 1 is Feb 6 (next class) Chaps 1-4, 5 M/c from each chapter Open book, open notes, 60 min Quick review Marketing Ethics Analyzing the Market Environment Copyright 2005 Prentice Hall Ch 1 -2 CHAPTER MARKETING ETHICS McGraw-Hill/Irwin 03 Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. Marketing Ethics LEARNING OBJECTIVES LO1 Identify the ethical values marketers should embrace. LO2 Distinguish between ethics and social responsibility. LO3 Identify the four steps in ethical decision making. LO4 Describe how ethics can be integrated into a firm’s marketing strategy. LO5 Describe the ways in which corporate social responsibility programs help various stakeholders. 3-4 Integrating Ethics Into Marketing Strategy Planning Phase Implementation Phase Control Phase 3-5 Planning Phase The mission or vision statement sets the overall ethical tone for planning. Mission statements can be used as a means to guide a firm’s SWOT analysis. ©M Hruby 3-6 Newman’s Own Donating over $200 $400 million since 1982 ©Newman’s Own, Inc. 3-7 Implementation Phase Should the firm be relocating production to another country? Should the firm be targeting this market with this product? Should the firm be selling its product in this market in this manner? 3-8 Control Phase 1. 2. Check successful implementation React to change Barbara Penoyar/Getty Images 3-9 Corporate Social Responsibility 3-10 Top Examples of CSR http://www.molsoncoors.com/en/Responsibility.aspx http://www.tysonhungerrelief.com/ http://www.kelloggcompany.com/en_US/corporateresponsibility.html http://www.wkkf.org/who-we-are/overview http://www.gecitizenship.com/ What are customer’s concerns? Photography and advertisement courtesy of Siemens 3-12 Check Yourself 1. How has corporate social responsibility evolved since the turn of the 20thCentury? 2. Identify the inputs and outputs of the corporate social responsibility framework? 3-13 CHAPTER ANALYZING THE MARKETING ENVIRONMENT McGraw-Hill/Irwin 04 Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. Analyzing the Marketing Environment LEARNING OBJECTIVES LO1 Outline how customers, the company, competitors, and corporate partners affect marketing strategy. LO2 Explain why marketers must consider their macroenvironment when they make decisions. LO3 Describe the differences among the various generational cohorts. LO4 Identify the various social trends. Analyzing the Marketing Environment Kimberly-Clark uses wood fiber from recycled sources or well-managed forestlands. Courtesy of iStockphoto with design by Curran & Connors, Inc A Marketing Environment Analysis Framework The Immediate Environment Successfully Leveraging Company Capabilities Core competency ©M Hruby Existing knowledge, facilities, patents, etc. applied appliedtoto New markets, new products, etc. Competitors Chad Baker/Getty Images Know their strengths & weaknesses Develop proactive rather than reactive strategy Daniel Acker/Bloomberg via Getty Images Kimberly-Clark: Pull-Ups (Huggies) versus Procter & Gamble: Easy-Ups (Pampers) Corporate Partners From factory ©Lars A Niki Siede Preis/Getty Images D Normark/PhotoLink/Getty Images • Firms are part of alliances • Align with competitors, suppliers, etc. • Just in Time Delivery Systems (JIT) to Retailer Check Yourself 1. What are the components of the immediate environment? Macroenvironmental Factors Culture Country Culture vs. Regional Culture ©Brand X Pictures/PunchStock PhotoLink/Getty Images Sub Hoagie Hero Grinder Poor Boy Po’ Boy Sous-marin Zeppelin Italian Sandwich Bomber Blimpie Controversy Surrounds All Catholic Town Demographics Provides an easily understood snapshot of the typical consumer in a specific target market BananaStock/JupiterImages Comstock Images/Alamy U.S. Census Website Generational Cohorts Income Purchasing power is tied to income Many middle class families feel the decline in purchasing power in recent years Courtesy of Hammacher Schlemmer, http://www.hammacher.com/ Chart 4 5 Counties Personal Income per Capita (US Bureau of Economic Analysis) 2000-2010 Source: Rural Decline in Maine, A Story of Five Counties, A. Gauvin Education = ©Fancy Photographer/Veer Brand X Pictures Education is related to income, which determines spending power Degrees and earnings Hard Times.pdf Chart 5 5 Counties Highest Educational Attainment 2010 US Census Data Graduate School 100% Percentage of Population 90% 80% Bachelor's Degree Associates Degree 70% 60% Some College 50% 40% 30% 20% High School Graduate Some High School 10% 0% less than 9th grade Source: Rural Decline in Maine, A Story of Five Counties, A. Gauvin Gender Male/female roles have been shifting Marketing has changed to reflect these shifts Jochen Sand/Digital Vision/Getty Images Ethnicity By 2050, minorities will represent 50% of the population. Bud Light Commercial ©2006 Oldemarak, LLC Reprinted with permission The Wendy’s name, design and logo are registered trademarks of Oldemark, Llc and are licensed to Wendy’s International, Inc. Social Trends Price Sensitivity Health and Wellness Concerns Privacy Concerns Greener Consumers Time-Poor Society Price Sensitivity Consumers Attempting to save more Spend less on luxuries Do not dip into their savings Health and Wellness Concerns Worldwide Pandemics or Epidemics SARS Bird Flu H1N1 Child-Teenage Obesity Adult onset diabetes Courtesy Subway Franchise Advertising Fund Trust Greener Consumers Customers who appreciate firms efforts to supply them with environmentally friendly merchandise. Courtesy Ford Motor Company Privacy Concerns Loss of privacy Identity theft Do not call Do not e-mail Chad Baker/Ryan McVay/Getty Images Time Poor Society In the majority of families, most parents work Consumers have many more choices regarding leisure time Many consumers multitask McDonald’s Moms Technological Advances Technology has impacted every aspect of marketing New products New forms of communication New retail channels AP Photo/Ric Feld Stop and Shop Website Economic Situation Foreign currency fluctuations Brand X Pictures Combined with inflation and interest rates affect firms’ ability to market goods and services PhotoLink/Getty Images Conference Board Website Political/Regulatory Environment: Consumer Protection http://www.androidpit.com/mobile-device-privacy-act Political/Regulatory Environment: Competitive Practice and Trade Legislation 1890: Sherman Antitrust Act 1914: Clayton Act 1914: Federal Trade Commission 1936: Robinson-Putman Act 1938: Wheeler-Lea Act David Hiller/Getty Images 1993: North American Free Trade Agreement (NAFTA) Check Yourself 1. What are the six key macroeconomic factors? 2. Differentiate between country culture and regional culture. 3. Identify the different generational cohorts. 4. What are some important social trends shaping consumer values these days?