Lecture 1

• Marketing environment


  • Microenvironment
  • Macroenvironment
• 6 major forces in an organisation's macroenvironment

  • Demographic
  • Economic
  • Natural
  • Technological
  • Political
  • Cultural
• Organisation's response to macroenvironment


  • Drive to adapt eco-friendly packaging
  • Health and wellness trends in chocolate
  • Increase in plant-based options
  • Dramatic increase in the cost of cocoa beans
  • Sustainable and ethical sourcing
  • Changing climatic conditions in cocoa producing countries
• Microenvironment


  Marketing success requires building relationships with other company departments, suppliers, marketing intermediaries, competitors, various publics, and customers

  
• 5 types of customer markets

  • Consumer markets
  • Business markets
  • Reseller markets
  • Government markets
  • International markets
• Situational analysis involves conducting marketing research
• Secondary data


  Information that already exists somewhere, having been collected for another purpose
• Primary data


  Information collected for the specific purpose at hand
• Marketing research


  The systematic design, collection, analysis and reporting of data relevant to a specific marketing situation facing an organisation

  
• Marketing information and customer insights are needed to create value for customers and build meaningful relationships with them</b>
• Customer analysis


  Understanding the customer in terms of their needs, wants, motivations, decision-making, attitudes and perceptions
• Ethical issues can arise from the growing use of marketing intelligence
• Qualitative and Quantitative Research Approaches

  • Qualitative - Objective is to gain an understanding of the underlying reasons and motivations, Small and non-representative sample, Unstructured or semi-structured data collection, Non-statistical data analysis
  • Quantitative - Objective is to quantify the data and generalise the results from the sample to the population of interest, Large and representative sample, Structured data collection, Statistical data analysis
• The marketing research process

  1. Developing the research plan

  2. Primary data collection
• Primary data collection approaches

  • Observational research
  • Ethnographic research
  • Interviews
  • Survey research
  • Experimental research
• Key takeaways


  • The Microenvironment
  • Customer Analysis
  • Types of customer markets
  • Identifying customers
  • Customer insights
  • Market Research