Team#3
Gregory
Porath-Team
leader
Hannah Bowling-Outline/Editor
Jerald Lathan-Editor/Powerpoint
Sara Forletta-Main Editor/Powerpoint
Theoren Collison-Presenter/Editor
BS 202
Tuesday 6-10 1/29/18
Chapter 3 Outline
3.1
The Marketing Environment
Planning process
● Marketing planning process: finding the best opportunities to create a competitive
advantage
● Allows target customers to have superior customer value
Forces shaping the marketing environment
● Direct Market Environment
○ Includes customers, the company and competitors
● External Market Environment
● Includes four major areas
○ Economic environment
○ Technological environment
○ Political and legal environment
○ Cultural and and social environment
Managers
● Can alter variables of market environment
● Analyze environment for controlled decisions
● Finding a strategy where market growth is supported
3.2
Objectives Should Set Firms Course
Company objectives
● Shape the direction and operation of the whole business
● Marketing managers should be heard when setting objectives
● Top management is responsible for setting whole company objectives
● relate present objectives and resources to the external environment before making goals
of accomplishment for the future
● Each company needs to clearly state and develop their own objectives based on the
situation to avoid any conflicting objectives
Mission Statement
● Organizations purpose
● Helps set the course
● Focus on key goals rather than everything
● Mission statement should obtain guidelines so managers can determine which
opportunities to pursue
● Revision may be needed as the market environment changes and new needs arise
Working towards the same objectives
● When there are a number of objectives they must be compatible
● Example: If the costs of developing and introducing new products can not be redeemed
by the end of the year than the return on investment is impossible
Company objectives should lead to marketing objectives
● Marketing managers- in charge of setting company objectives
● Objectives allow managers to look for opportunities and plan marketing strategies
● Hierarchy of objectives
