ECON344 Chapter Notes - Chapter 2: Carbon Footprint, Liquid Oxygen, Baby Boomers

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coralleopard752

3 Sep 2014

School

University of Waterloo

Department

Economics

Course

ECON344

Professor

Deborah Reyner

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Document Summary

Lo1 identify the factors in a firm"s microenvironment. Lo2 explain how the factors in a firm"s microenvironment influence its marketing strategy. Lo3 identify the factors in a firm"s macroenvironment. Lo4 explain how the factors in a firm"s macroenvironment influence its marketing strategy. Lo5 identify and discuss important trends affecting marketing decisions today. Microenvironment factors (can control: the company, resources, the offering, the people, management, the suppliers, the customers, marketing intermediaries, publics. I ncome: c ulture, d emographics, e ducation, g ender, s ocial trends: Teens, gen y, gen x, baby boomers, seniors. Education is related to income, which determines spending power. Greener consumer: clean energy alternative, reduce carbon footprint, customers willingly pay more for green energy. Time-poor society: in the majority of families, most parents work, consumers have many more choices regarding leisure time, many consumers multitask: t echnological advances: New retail channels: e conomic situation:

Related Questions

1. After reviewing the Readings, select a company that currently operates domestically in the United States or your home country.

2. Consider the marketing strategies the company you selected can employ to grow its market share in the United States. Then, consider whether the company should use the same marketing strategy or a different one to gain market share in an international market.

Post by Day 3 the following:

3. A brief description of the company you selected, including its products or services and the market or markets it serves.

4. Describe two marketing strategies that firms can select for growing their market share domestically.

5. Explain which of the two marketing strategies you selected should be adopted by your chosen company to continue its growth in its current domestic market and explain why this strategy would be effective.

6. Explain whether the company should use this same marketing strategy to grow internationally or into other markets or regions or whether it needs to employ a different one.

7. Give an example of how the marketing strategy (or strategies) you have selected would apply in the domestic and international context. Provide a rationale to support your conclusions.

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ECON344 Chapter Notes - Chapter 2: Carbon Footprint, Liquid Oxygen, Baby Boomers

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