Scanning the Marketing Environment

And were back! 

I hope everyone is enjoying my blog and gaining some general knowledge on marketing! This blog is going to be focused on Environmental Scanning 

Environmental Scanning is the process of continually acquiring information on events occurring outside the organization to identify and interpret trends. 

There are environmental trends that come from 5 sources: 
1. Social: Demographic shifts, cultural changes
2. Economic: Macroeconomic conditions, consumer income
3. Technological: Changing technology, Technology's impact on customer value, electronic business technologies 
4.Competitive: Alternative forms of competition, small businesses
5. Regulatory Forces: Laws protecting competition, laws of affecting marketing mix actions, and self-regulation. 

Demographics is another topic in this section of scanning the marketing environment. 
Demographics  describes a population according to selected characteristics such as age, gender, ethnicity, income, and occupation. 

Under this category there is generation cohorts which are Baby Boomers, Generation X, and Generation Y. 
The Baby Boomers is (generation between 1946-1964) are retiring at a rate of 10,000 every 24 hours and they will all be 65 or older by 2030.

·       Their participation in the workforce made them wealthiest generation accounting for 50% of all consumers spending. 

     Generation X is included the 15% of the population born between 1965 and 1976. Also known as BABY BUST because of the number of children born in each year are declining.   

      Generation Y includes 72 million born between 1977 and 1994. This Is the period of increasing births, and is often referred to as the ECHO BOOM or BABU BOOMLET.

    There is also the blended family which consists of the majority of divorced people that remarry. 

The economy also comes into play here. This pertains to the income, expenditures and resources that affect the cost of running a business in a household. 

As you can see this is extremely important with environmental scanning, and how it relates back to marketing! 

II hope everyone learned something new today and enjoyed my blog! Looking forward to writing the next one! 

Until next time, 

Natalia! 

Organizational Strategies

Hi Everyone! 

Im back with some new knowledge about marketing for all you interested readers! 

There are different types of organizational structures for businesses along with strategies in which I am going to talk about here.

Lets start off with the basic deffiniton of an organization: a legal entity that consists of people who share a common mission (can be divided into business firms and nonprofit organizations). 

There are two different categories of organizations, business firms and non-profit organizations. 

The difference between these two is that a business firm is a privately owned organization such as target and Nike so that serves its customers to earn a profit so it can survive and a non-profit organization is a nongovernmental organization that serves its customers but does not have a profit as an organizational goal. Its goal is may be operational efficiency or client satisfaction (but it must receive sufficient funds above its expenses to continue operation. 

Organizations have limited resources such as human, financial, and technological resources, and this is where strategy comes in play. Strategy is an organizations long term course of action designed to deliver a unique customer experience while achieving its goal. 

There are three structural organizations: 

Corporate Level: Where top management directs overall strategy from the entire organization.
Strategic Business Unit: Subsidiary division or unit of organization that markets a set of related offerings to a clearly defined group of customers. Functional Level: Each strategic business unit has a functional level where groups of specialists actually create value for the organization 

Every business needs to have goals or objectives because without those they have no core to follow. 

Goals are statements of an accomplishment of a task to be achieved often by a specific time.  Types of goals are profit, sales, market share (the ratio of sales revue of a firm to total sales revenue of all related firms) quality, customer satisfaction, employee welfare, social responsibility. 

There you have it, a basic background of developing successful marketing and organizational strategies. I hope you all enjoyed gaining some useful knowledge! 

Until next time, 

Natalia! 

Theres a first time for everything

                                        

Hi Everyone!

   My name is Natalia Maccarrone. This is the first time I have ever written a blog and I am pretty excited about it! Technically this is for a class of mine at school, but I will try to make it as interesting as possible for those of you readers that do not want to hear about school stuff!
    I am taking this marketing class and it is actually pretty awesome! We are allowed to be extremely creative and hands on with the class. It requires a lot of presenting which I am extremely nervous about because I hate talking in front of the class! There is a lot of work that this class requires, and I need to make sure I keep up with it!
   My personal goals in the class are to find a more creative side to myself and explore things in different ways. I enjoy that we are able to pick out our Television Ads to present to the class because you get a taste of what every bodies interests are! Another goal of mine is to get better at presenting in front of my peers, which I have to do a whole lot in this class, so I am hoping to get more comfortable with that.
   This summer I had an internship at Merrill Lynch, which I absolutely hated! The one part I enjoyed was working with the woman in charge of marketing for the financial advisors group I was interning for. 

That is what made me excited about taking this class this semester. Another good thing about it was I realized what I definitely do not want to do with my future and that is focus in on finance and being in a department where I work with people who are financial advisors.
   My academic goals for this semester and this class are going to be pretty hard to stay on top of! I am currently in three business classes and an English class, all of which require so much work! Along with being on the Volleyball team here and traveling so much this semester. 

I really need to stay on top of things! I have a goal of keeping up with a 3.2 GPA or over. I think I can reach this goal if I strive for it! One last goal, outside of this class but for this year, is to find out what I want to focus on specifically in the business world since right now I am unsure of it.
   On Wednesday I have my Ad presentation, which I am so nervous for! I am going to try my hardest to completely kill it while I am in front of the class! I will be sure to let you all know how I do when it is over!
  Well, that is all I have for now, I hope I didn't bore any of you too much!

Enjoy the week and stay happy my friends! :)

Thanks for listening,

Natalia!