1. Chapter 4 THE MARKETING ENVIRONMENT

2. Thought For The Day “I’ve learned that being kind is more important than being right.” Late Andy Rooney, CBS 60 Minutes

3. Test #1 Thurs 2/4 Ch 1 INTRODUCTION Ch 2 STRATEGIC MKT PLANNING Ch 4 THE MKT ENVIRONMENT Ch 5 GLOBAL MKT as covered And articles.

4. Strategic Planning Initiatives …examples in news Same day delivery for retail Gen. Motors Buys Lyft ($500 Million) Blue Apron: Fresh food at home. GE sells appliance division.

5. The Marketing Environment Why is this called an Uncontrollable Variable?? What variables are controllable? What does “environmental scanning” mean?

6. The Marketing Environments The Social Environment The Demographic Economic Environment Technological Env. Political Legal Env. Competitive Env.

7. Social Based upon values? What are values? cool Important US values?

8. American Values Keep your house clean. Work ethic Go to church. Make money. Education is good. Physically attractive. Be in good shape Dress cool. Be honest/have integrity.

9. Culture and places Geographic difference What is the most “normal state” demographically? Urban vs Rural, South vs West Coast. By country and region of world. Women in Arab country

10. Values and Markets Lack of time. Health/Staying healthy Education Role of women

11. Groups Identify a market which has been impacted over the past 25 years by the changing role of women in the US? Explain the change in the value and how it impacts a market.

12. Demographics Study of? Why important to markets? More population = more customers. More of certain demographic groups- more business “Baby Boomers” are an example of a demographic group

14. Values and spending differ in different regions, ethnic groups, AND demographic groups. Demographic groups. Tweens, Teens, Gen Y, Gen X, Baby Boomers

15. US Ethnic groups= different market segments Hispanics African Americans Asians

16. Your Demographic IQ? Population of US? Louisiana? Wealthiest Parish? Poorest? Percent African American? Median Household Income? US? Louisiana? Wealthiest State In US? Poorest? % Bachelors Degrees? US? LA?

17. Economic Environment Important To All Businesses? Business Cycle and its impact on various industries (markets). Consumer income

18. Political and Legal Environment or Factors Environmental Management….some control Lobbying?

19. Federal Laws and Regulations Federal Laws Goal or philosophy about competition? Sherman Act FTC (The Federal Trade Commission)? The referees that enforce the rules. Who is the FDA? An important agency.

20. Local Laws State Liquor age, sales tax, marijuana sales, business taxes, income taxes, property taxes Local Business license, building codes, blue laws.

21. Important current legal issues Taxing online sales. Health care reform Legalization of Marijuana Same gender marriage Legalizing services to immigrants

22. Competitive Environment Different from the other environments: Intelligent and adversarial? Type (nature) of competition matters? Competition by industry matters?

23. The Technological Environment Not all industries impacted by this…. which ones? Examples: Kodak, Cameras in general