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Today’s Lecture
•The External Environment
–Definition, Significance, Techniques
(PEST)
•Strategic Marketing
–Definition, Benefits, Stages,
Techniques (SWOT, Five Force
Model)
•Market and Marketing Research
–Definition and significance (Ch 4)
Kotler on
Marketing
Today you have
to run faster
to stay in
place.
Marketing Environment
Definition
Colgate-Palmolive has
had global success
with its Colgate line of
tooth-care products.
The products and their
packaging design do
not vary from country
to country; the only
thing that changes is
the language on the
packages.
Forces (Macro) & Actors (Micro)
Broad Forces
Political/Legal Technological
Task Actors
Customers Suppliers
Competitors Company
Publics/Stakeh Intermediaries
olders
Economic
Social/Cultural
Marketing Environments
• Opportunities from Macro Environments
• Social security CCTV or security
systems
• Political
• Economic
• Societal
• Technological
Political Environment
Increased
Legislation
Political-
Legal
Environment
Special-
Interest
Groups
Economic Environment
Income Savings, Debt, &
Distribution Credit Availability
Of Of
the Universe Views Others
That Express
Of Values Of
Nature Organizations
Of
Society
Status Symbols are Always in Flux
Varying Increased
R & D Budgets Regulation
Figure 6-2: Virtual Reality Applications in Marketing
Strategic Options
Where would we like to be?
Marketing planning Marketing Objectives
at product level
Tactical Plans & Mixes (4Ps) How do we get there?
Opportunities Threats
External -
Uncontrollable
Opportunities Threats
Increasing mobile phone usage Increased competition from other
airlines
Interactive television
Post Sept 11th flying fears
Ageing population
Competition from other forms of
transport
Drawing a Conclusion
• Formulate strategic options that:
– Minimise weaknesses and threats
– Maximise strengths and opportunities
• For example:
– Threat: Increased competition and limited UK
coverage
– Strategy: Take over competitor increasing
coverage of UK market
Competitive Forces
Five Forces Determining Segment Structural
Attractiveness
Threats of:
1. intense segment
rivalry
2. new entrants
3. substitute products
buyers’ growing
bargaining power
suppliers’ growing
bargaining
power
Identifying Competitors
• Industry Concept of Competition
• Industry
– Number of Sellers and
Degree of Differentiation
• Pure monopoly
• Oligopoly
– Pure oligopoly
– Differentiated oligopoly
• Monopolistic competition
• Pure competition
Identifying Competitors
– Entry, Mobility, Exit Barriers
• Entry barriers
• Mobility barriers
• Exit barriers
– Cost Structure
– Degree of Vertical Integration
• Vertical integration
– Degree of Globalization
• Market Concept of Competition
Designing Competitive Strategies
Figure 9-6:
Hypothetical
Market Structure
(Kolter, 2003)
Benefits of SMP
• Forces organisation to critically evaluate its current situation
in light of current and future environmental trends
• Prompts firm to identify its strengths and weaknesses
• Increases awareness of opportunities and threats
• Encourages organisations to adapt
• Stimulates achievement
• Promotes search for competitive advantage
However there are also problems:
• How confident are we in identifying and predicting trends?
• By selecting certain options are we restricting ourselves and
losing flexibility/stifling creativity?
Summary
• There are two components of the marketing
environment - the broad forces and the task actors
• PEST is a technique used to evaluate the forces in the
marketing environment
• SMP is used to “fit” the organisation to its
environment and a key tool is a SWOT analysis
• There are both benefits and problems of SMP
• Market and Marketing Research are important in
linking the firm to the marketing environment