1b_macro_environment_tba l6.ppt

8/21/2019 1B_Macro_environment_TBA L6.ppt

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Macro-environment

Thomas Anker

Marketing 1B 2012, session 6


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The viewfrom

nowhere


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Key question

How does external factors influence

organizations and marketing strategy?


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3 business environments


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Why bother?

The external environment might impact on your

business External environment is uncontrollable and

unpredictable

The External environment is a

high risk factor


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Not so happy meals


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Not so happy meals


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Not so happy meals

The societal focus on health and obesity has forced

McDonalds To experience its first loss (2000)

To reformulate products and introduce new ones

To invest in marketing campaigns (repositioning)


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PESTLE analysis


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Political influences

These guys and girls are influencing our businesses,

but how can we influence them?


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Politicians make the rules of the game

How can businesses influence policymaking Lobbyist (trade associations)

Politicians as non-executive directors

Public relations (PR)

Influencer marketing (press, spin-doctors)


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Imagine a World

Without Free Knowledge

18 Jan 2012: Wikipediaare blacking out to protest

against laws on

intellectual properties and

piracy

Protest drives massive

PR

Raises public awareness


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Businesses try to influence factors such as

Tax Education

Marketing regulations

Minimum wages

Constraints on trading times/days

Immigration


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Economic influences

Wage inflation (wage increases)

Price inflation (scarce supply price increase (e.g.petrol))

Gross domestic product (GDP) (consumer

purchasing power)

Corporate and income taxes

Exchange rates


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Economic influences

Markets are partly psychological entities. Loss of

consumer confidence causes Reluctance

Postponement

Savings

How can marketers instill

consumer confidence?


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Economic influences

Marketing strategy during recessions

Stimulate demand by price falls. But be vigilant Are your consumers necessarily recessed, or just cautious?

PR to instill confidence across stakeholders

S i lt l i fl


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Socio-cultural influences

Demographics

Lifestyle Values

D hi


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Demographics

Age mix (i.e., proportion of 15-64, 65+ in a market)

Are market populations expected to rise or fall(+India, +China, -Russia)

Gray or silver segment

Lif t l h


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Lifestyle changes

10% in US identify themselves as homosexuals

Pink segment


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Going pink


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Going pink

Focus group research showed that gays had a

strong preference for messages target directly atthem

Spill-over: openmindedness might appeal to

libertarian cosmopolitans who are possible core

influencers

Co creation


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Co-creation

Consumers increasingly willing to interact with

marketers Crowdsourcing or consumer co-creation


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The technological environment


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The technological environment

New marketing tools: social media marketing,

geofencing, QR-readers. Innovation becomes a necessary condition in the

strategic marketing decision-making of high-

technology firms

The legal environment


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Product safety, packaging and labelling

This product is healthy



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Codes of practice

Alcohol Tobacco

Children



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Battle between academics and corporations

Fierce battle over self-regulation (e.g., AdvertisingStandards Association)

British Medical Association call for a ban on alcohol

advertising

1b_macro_environment_tba l6.ppt

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