Marketing Environment
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Business Environment: Scanning, Reacting, and Shaping It
Learning Outcome By the end of this lesson, you will be able to identify where businesses actually get the information they use to scan their environment, and explain the difference between a reactive and a proactive response to environmental change. What Is the Business Environment, and Why Scan It? The business environment is simply the…
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Collecting Customer Information: Data, Information, and Insight
Learning Outcome By the end of this lesson, you will be able to explain the difference between data and information, identify internal and external sources of customer information, and describe how to collect it responsibly. What Is Customer Information, and How Is It Different from Data? Businesses succeed by satisfying customer needs and wants, and…
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Conducting Marketing Research
Conducting Marketing Research Learning Outcome: By the end of this lesson, you will be able to describe the five-step marketing research process and explain what happens at each stage. What Is the Marketing Research Process? Marketing research rarely succeeds as a single activity; it works best as a structured sequence of steps, each building on…
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External Influences: Culture, Subculture, and Cross-Cultural Marketing
Culture includes knowledge, belief, art, law, morals, customs, and any other capabilities and habits acquired by humans as members of society. How does culture affect consumer behavior? Whatever a person consumes will determine their level of acceptance in their society. If someone does not act consistently with cultural expectations, they risk not being accepted in…
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External Influences: Groups, Social Power, and Situational Factors
What a consumer eats, wears, and believes are all learned and influenced by the culture they live in, their family, childhood and social environment. All of these are external factors that affect purchases.
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Family Influence on Consumer Buying Decisions
Where a child places in the birth order can have an effect on how they see themselves, and therefore affects their consumer behavior. The middle child often seems to have the most negative impressions of his lot in life. Younger children always want to be able to do the things older siblings are allowed to…
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Introduction to Marketing Research
This is Marketing Teacher’s introduction to marketing research. Market research and marketing research are often confused. ‘Market’ research is simply research into a specific market. It is a very narrow concept.
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Marketing Contexts
The marketing mix and the services marketing mix should be adapted for different organizational and business contexts.
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Marketing Environment
The marketing environment surrounds and impacts upon the organization. There are three key elements to the marketing environment which are the internal environment, the microenvironment and the macroenvironment.
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PEST Analysis
PEST analysis is very important that an organization considers its environment before beginning the marketing process. In fact, environmental analysis should be continuous and feed all aspects of planning.
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PESTEL
Learning outcome: By the end of this lesson, you will be able to identify the six factors in a PESTEL analysis and explain how a change in one factor can create knock-on effects for a business through the others. What Is a PESTEL Analysis? A PESTEL analysis is a tool marketers use to scan the…
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POWER SWOT: A More Advanced SWOT Analysis Framework
SWOT analysis is a marketing audit that considers an organization’s strengths, weakness, opportunities and threats. Our introductory lesson gives you the basics of how to compete your SWOT as you begin to learn about marketing tools. As you learn more about SWOT analysis, you will become aware of a number of potential limitations with this…
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Primary Marketing Research: Approaches and Contact Methods
Market research and marketing research are often confused. ‘Market’ research is simply research into a specific market. It is a very narrow concept. ‘Marketing’ research is much broader. It not only includes ‘market’ research, but also areas such as research into new products, or modes of distribution such as via the Internet.
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Secondary Marketing Research: Sources and the Four Tests
Here you will find Marketing Teacher’s FREE lesson on secondary marketing research. Market research and marketing research are often confused. ‘Market’ research is simply research into a specific market. It is a very narrow concept.
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Social Class and Reference Groups in Consumer Behavior
Reference groups have an influence on purchasing behavior, but the level of influence will depend on where the product will be consumed—in public or in private—and whether the product is a want or a need.
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SWOT Analysis
Lesson Exercise Answer Learning outcome: By the end of this lesson, you will be able to explain what a SWOT analysis is, distinguish internal factors from external factors, and use the SWOT framework to structure a strategic review of an organisation or a marketing decision. What Is SWOT Analysis? SWOT analysis is one of the…
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The Microenvironment: Six Actors Shaping Customer Value
Learning Outcome By the end of this lesson, you will be able to identify the six groups of actors that make up a company’s microenvironment and explain how each one affects its ability to create value for customers. What Is the Microenvironment? Kotler and Armstrong (2018) define the microenvironment as the actors close to a…
