435 Week 3 1
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435 FUNDAMENTAL OF SMALL BUSINESS
Kingsland Institute of New Zealand NNDB 435 Small business management
Marketing Session THE MARKETING ENVIRONMENT © AUT Faculty of Business 2008
435 FUNDAMENTAL OF SMALL BUSINESS
2
Session Objectives •
To recognise the importance to business of analysing the external marketing environment.
•
To explore the effects of political, economic, socialcultural, technological, legal/regulatory, environmental and competitive factors on the organization.
•
To consider marketing environmental factors for a particular industry
Pre reading: Pride et al. (2007). Marketing: core concepts and applications. Brisbane, Australia. Wiley. Pp 54-69 © KINZ 2008
435 FUNDAMENTAL OF SMALL BUSINESS
3
The Marketing Environment •
Forces that directly or indirectly influence an organisation’s ability to achieve its business objectives
•
Always fluctuating and always dynamic- factors in the marketing environment create uncertainty, threats and opportunities
•
Environmental monitoring is crucial to an organisation’s survival and long-term achievement of its goals!
© KINZ 2008
435 FUNDAMENTAL OF SMALL BUSINESS
4
Marketing occurs in a dynamic environment •
•
The Marketing Environment •
Competitive
•
Economic
•
Political
•
Legal and regulatory
•
Technological
•
Socio-cultural
•
Environmental
It surrounds the customer, affects the marketing mix, can fluctuate quickly and dramatically and is difficult to predict. © KINZ 2008
435 FUNDAMENTAL OF SMALL BUSINESS
5
Marketing Environment
Industry SBE Competitors
Market Customers (existing + potential)
© KINZ 2008
435 FUNDAMENTAL OF SMALL BUSINESS
6
The Marketing Environment •
When confronted with environmental changes, marketing managers can choose to:
•
1) Accept them as uncontrollable
•
or
•
2) Attempt to shape or influence them
© KINZ 2008
435 FUNDAMENTAL OF SMALL BUSINESS
7
Group Exercise •
You will be given one factor to summarise from your textbook. Summarise in approximately three sentences, using your own words. Give an example •
Competitive
•
Economic
•
Political
•
Legal and regulatory
•
Technological
•
Socio-cultural
•
Environmental
Share with the rest of the class. © KINZ 2008
435 FUNDAMENTAL OF SMALL BUSINESS
8
Group Exercise •
You have been given a current issue. •
How does this issue relate to the marketing environment?
•
What is the issue discussed in the article?
•
Share with the class.
•
As a class analyse those factors to determine if they would impact on the industry, either positively or negatively (opportunity or threat).
© KINZ 2008
435 FUNDAMENTAL OF SMALL BUSINESS
9
What is “the Market”?
© KINZ 2008
435 FUNDAMENTAL OF SMALL BUSINESS
10
Group Exercise – the industry •
Which industry does your group product belong to?
•
What are the marketing environment issues?
•
Are there marketing environment issues specific to this market?
•
Using the Internet what can you find out about the your product industry in NZ?
•
In your SBE groups explore the marketing environmental issues at the broad level and then for the product/service you have in mind. © KINZ 2008
435 FUNDAMENTAL OF SMALL BUSINESS
11
•
•
Marketing information and marketing research •
Pride, W., Elliott, G., Rundle-Thiele, S., Waller, D., Paladino, A. and Ferrell, O. (2006). Marketing: Core Concepts and Applications. Brisbane, Australia. Wiley.
•
Pp 84-105
SBE Reflective Portfolio
© KINZ 2008
Kingsland Institute of New Zealand NNDB 435 Small business management
Marketing Session THE MARKETING ENVIRONMENT © AUT Faculty of Business 2008
435 FUNDAMENTAL OF SMALL BUSINESS
2
Session Objectives •
To recognise the importance to business of analysing the external marketing environment.
•
To explore the effects of political, economic, socialcultural, technological, legal/regulatory, environmental and competitive factors on the organization.
•
To consider marketing environmental factors for a particular industry
Pre reading: Pride et al. (2007). Marketing: core concepts and applications. Brisbane, Australia. Wiley. Pp 54-69 © KINZ 2008
435 FUNDAMENTAL OF SMALL BUSINESS
3
The Marketing Environment •
Forces that directly or indirectly influence an organisation’s ability to achieve its business objectives
•
Always fluctuating and always dynamic- factors in the marketing environment create uncertainty, threats and opportunities
•
Environmental monitoring is crucial to an organisation’s survival and long-term achievement of its goals!
© KINZ 2008
435 FUNDAMENTAL OF SMALL BUSINESS
4
Marketing occurs in a dynamic environment •
•
The Marketing Environment •
Competitive
•
Economic
•
Political
•
Legal and regulatory
•
Technological
•
Socio-cultural
•
Environmental
It surrounds the customer, affects the marketing mix, can fluctuate quickly and dramatically and is difficult to predict. © KINZ 2008
435 FUNDAMENTAL OF SMALL BUSINESS
5
Marketing Environment
Industry SBE Competitors
Market Customers (existing + potential)
© KINZ 2008
435 FUNDAMENTAL OF SMALL BUSINESS
6
The Marketing Environment •
When confronted with environmental changes, marketing managers can choose to:
•
1) Accept them as uncontrollable
•
or
•
2) Attempt to shape or influence them
© KINZ 2008
435 FUNDAMENTAL OF SMALL BUSINESS
7
Group Exercise •
You will be given one factor to summarise from your textbook. Summarise in approximately three sentences, using your own words. Give an example •
Competitive
•
Economic
•
Political
•
Legal and regulatory
•
Technological
•
Socio-cultural
•
Environmental
Share with the rest of the class. © KINZ 2008
435 FUNDAMENTAL OF SMALL BUSINESS
8
Group Exercise •
You have been given a current issue. •
How does this issue relate to the marketing environment?
•
What is the issue discussed in the article?
•
Share with the class.
•
As a class analyse those factors to determine if they would impact on the industry, either positively or negatively (opportunity or threat).
© KINZ 2008
435 FUNDAMENTAL OF SMALL BUSINESS
9
What is “the Market”?
© KINZ 2008
435 FUNDAMENTAL OF SMALL BUSINESS
10
Group Exercise – the industry •
Which industry does your group product belong to?
•
What are the marketing environment issues?
•
Are there marketing environment issues specific to this market?
•
Using the Internet what can you find out about the your product industry in NZ?
•
In your SBE groups explore the marketing environmental issues at the broad level and then for the product/service you have in mind. © KINZ 2008
435 FUNDAMENTAL OF SMALL BUSINESS
11
•
•
Marketing information and marketing research •
Pride, W., Elliott, G., Rundle-Thiele, S., Waller, D., Paladino, A. and Ferrell, O. (2006). Marketing: Core Concepts and Applications. Brisbane, Australia. Wiley.
•
Pp 84-105
SBE Reflective Portfolio
© KINZ 2008
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