Part2-Environment课件

1、MarketingMixProductPricePromotionPlaceConsumerCostCommunicationConvenienceThe Four CsReviewMarketingMixProductPricePromotionPlaceConsumerCostCommunicationConvenienceThe Four CsPRICEuThe customers perception of value is an important determinant of the price charged. uCustomers draw their own mental p

2、icture of what a product is worth. uA product is more than a physical item, it also has psychological connotations for the customer. uPrice is also an indicator of quality, the danger of using low price as a marketing tool is that the customer may feel that quality is being compromised. PROMOTIONuTh

3、e promotions aspect of the marketing mix covers all types of marketing communications. uThe methods include advertising, merchandising, direct mail, telemarketing, exhibitions, seminars, demonstrations, etc. PLACEuPlace in the marketing mix, is not just about the physical location or distribution po

4、ints for products. uIt encompasses the management of a range of processes involved in bringing products to the end consumer.Production ConceptProduct ConceptSelling ConceptMarketing ConceptConsumers prefer products that are widely available and inexpensive Consumers favor products that offer the mos

5、t quality, performance, or innovative featuresConsumers will buy products only ifthe company aggressivelypromotes/sells these productsFocuses on needs/ wants of target markets & delivering value better than competitorsCompany Orientations Towards the Market placeProduction ConceptuThe production

6、 concept, , one of the oldest in business, holds that consumers prefer products that are widely available and inexpensive. Managers of production-oriented businesses concentrate on achieving high production efficiency and low costs. Product ConceptuThe product concept holds that consumers favor thos

7、e products that offer the most quality, performance, or innovative features. Managers in these organizations focus on making superior products and improving them over time.Selling Concept uThe selling concept holds that consumers, if left alone, will ordinarily not buy enough of the organizations pr

8、oducts. uThe organization must, therefore, undertake an aggressive selling and promotion effort. The selling concept is practiced most aggressively with unsought goodsgoods that buyers normally do not think of buying, such as insurance and funeral plots. The selling concept is also practiced in the

9、nonprofit area by fund-raisers, college admissions offices, and political parties.u Marketing Concept uThe marketing concept challenges the three business orientations we just discussed. uIt holds that the key to achieving organizational goals consists of the company being more effective than its co

10、mpetitors in creating, delivering, and communicating customer value to its chosen target markets. Objectives 学习目标Environmental Scanning 环境侦测Marketing EnvironmentMarketing EnvironmentFinancial service institutionsTechnologicalSocialEconomicPoliticalThe Marketing EnvironmentPEST Analysis(Macro-environ

11、ment)1. Political (Regulatory) Environment(1)1. Political (Regulatory) Environment(2)1. Political (Regulatory) Environment(3)1. Political (Regulatory) Environment(4)Regulatory Agencies in China:1. Political Environment(5)Principal Regulatory Agencies of the U.S. Financial SystemRegulatory Agency监管机构

12、监管机构Subject of Regulation 监管主体监管主体Nature of Regulation监管内容监管内容S e c u r i t i e s a n d S e c u r i t i e s a n d Exchange CommissionExchange Commission(SEC) (SEC) Commodities FuturesCommodities FuturesTrading CommissionTrading Commission(CFTC)(CFTC) O f f i c e o f t h e O f f i c e o f t h e Compt

13、roller of the Comptroller of the CurrencyCurrencyNational Credit Union National Credit Union Administration (NCUA)Administration (NCUA)State banking and State banking and insurance commissionsinsurance commissionsF e d e r a l D e p o s i t F e d e r a l D e p o s i t Insurance Corporation Insurance

14、 Corporation (FDIC)(FDIC)Federal Reserve SystemFederal Reserve SystemO f f i c e o f T h r i f t O f f i c e o f T h r i f t SupervisionSupervisionOrganized exchanges and Organized exchanges and financial marketsfinancial marketsF u t u r e s m a r k e t F u t u r e s m a r k e t exchangesexchangesF

15、ederally-chartered Federally-chartered commercial bankscommercial banksFederally-chartered Federally-chartered credit unionscredit unionsState-charteredState-chartereddepository institutionsdepository institutionsC o m m e r c i a l b a n k s , C o m m e r c i a l b a n k s , mutual savings banks, m

16、utual savings banks, s a v i n g s a n d l o a n s a v i n g s a n d l o a n associationsassociationsA l l d e p o s i t o r y A l l d e p o s i t o r y institutionsinstitutionsS a v i n g s a n d l o a n S a v i n g s a n d l o a n associationsassociationsRequires disclosure of information, restric

17、ts Requires disclosure of information, restricts insider trading insider trading Regulates procedures for trading in futures Regulates procedures for trading in futures marketsmarketsCharters and examines the books of federally Charters and examines the books of federally chartered commercial banks

18、and imposes chartered commercial banks and imposes restrictions on assets they can holdrestrictions on assets they can holdCharters and examines the books of federally Charters and examines the books of federally chartered credit unions and imposes restrictions chartered credit unions and imposes re

19、strictions on assets they can holdon assets they can holdCharter and examine the books of state-chartered Charter and examine the books of state-chartered banks and insurbanks and insurance companies, impose ance companies, impose restricrestrictions on assets they can hold, and impose tions on asse

20、ts they can hold, and impose restrictions on branchingrestrictions on branchingProvides insurance of up to $ 100,000 for each Provides insurance of up to $ 100,000 for each depositor at a bank, examines the books of depositor at a bank, examines the books of insured banks, and imposes restrictions o

21、n assets insured banks, and imposes restrictions on assets they can holdthey can holdExamines the books of commercial banks that are Examines the books of commercial banks that are members of the system, sets reserve requirements members of the system, sets reserve requirements for all banksfor all

22、banksExamines the books of savings and loan Examines the books of savings and loan associations, imposes restricassociations, imposes restrictions on assets tions on assets they can holdthey can hold2.Economic Environment(1)2.Economic Environment(2)EconomicDevelopment Changes in IncomeChangesin Cons

23、umerSpendingPatternsKeyEconomicConcerns forMarketers3.Social Environment(1)Demographic(1)Demographic Environment(1)Demographic Environment3.Social Environment(2)Growing Population(1)Demographic Environment: Key Trends in China(1)Demographic Environment: Key Trends in ChinaChanging Age StructurePopul

24、ation is getting olderGeographic Shifts: Moving to the citiesIncreased EducationIncreased college attendanceand whitecollar workersChanging Family StructureMarrying later, fewer children, working women3.Social Environment(3)(2)Cultural Environment(2)Cultural Environment3.Social Environment(8)Based o

25、n careful study of cultural differences, Bank of America has developed targeted advertising messages for different cultural subgroups, here Asians and Hispanics.Diversity-Based Advertising4.Technological environment(1)4.Technological environment(2)4.Technological environment(3).4.Technological envir

26、onment(4)4.Technological environment(5)4.Technological environment(6)Evolution of the Financial Services SectoruMerging and AcquisitionuNew entrants Strategic responses to the challenges of the Strategic responses to the challenges of the financial services environment(1)financial services environme

27、nt(1) Over the last few decades, the financial services sector has undergone unprecedented changes which have altered both the structure of the sector and the nature of competition within it.It is not surprising that, within a rapidly changing environment, financial institutions have been forced to

28、change the way in which they respond to the marketplace in order to remain competitive:Becoming less focused on products and more focused on customers and relationships;Less focused on the short term and more focused on the longer term. Strategic responses to the challenges of the Strategic response

29、s to the challenges of the financial services environment(2)financial services environment(2)1.Focus on retaining customers=Recently, financial institutions have started to focus more of their attention on their existing customers. The costs of retaining customers have been found to be more favorabl

30、e than the costs of acquiring customers. It also became apparent that the range of financial services offered by the majority of large financial institutions fitted the broad needs of customers over their lifetimes and should, therefore, be targeted at them. Strategic responses to the challenges of

31、the Strategic responses to the challenges of the financial services environment(3)financial services environment(3)2.Trends towards generalizationPrior to deregulation: banks, building societies and insurance companies operated in distinct and specialist product areas and in clearly defined competit

32、ive areas. However, since the competitive boundaries have come down and the lines of demarcation have been eroded, all financial institutions have begun to look alike. Indeed, financial institutions have been forced to offer a wider range of products in order to compete effectively.This trend is als

33、o consistent with the focus on customer retention. If financial institutions wish to retain their customers and build long-term satisfying relationships with them, they need to be able to offer a range of products which meet customers needs over their lifetime. Strategic responses to the challenges

34、of the Strategic responses to the challenges of the financial services environment(4)financial services environment(4)3.Arms-length distribution(1)uBranches traditionally have been the main delivery vehicle for banks and building societies. uOne of the reasons for this was that many financial produc

35、ts were thought to be complex and required a face-to-face interview with the customer. uThe other reason was that personal contact with the customer enabled a relationship to be developed and cross-selling to take place. uStrategic responses to the challenges of the Strategic responses to the challe

36、nges of the financial services environment(5)financial services environment(5)3.Arms-length distribution(2)More recently, there has been a growth in remote distribution methods. One of the key drivers has been the desire of financial institutions to streamline the branch network and reduce its cost.

37、 Another reason is that financial institutions wanted to provide customers with greater access to them. Customers actually prefer to have an arms-length relationship (保持距离型关系） with their financial services provider and are making use of the telephone and the internet to conduct their financial trans

38、actions. uStrategic responses to the challenges of the Strategic responses to the challenges of the financial services environment(6)financial services environment(6)4.ChargingServices incur a cost which needs to be recovered somewhere, either from another customer or through the purchase of another

39、 product. However, free banking essentially meant that current accounts, for example, could be operated free of charge to the customer providing the account was kept in credit or did not go beyond an agreed overdraft limit. The customer was implicitly charged by not receiving interest on credit bala

40、nces. This provided an important source of income for the banks which were able to use interest-free deposited funds to furnish short-term borrowing which would be charged at the current interest rate.Discussion QuestionuWhat is the rationale for regulation? Why is there a particular justification f

41、or regulation in the financial services sector?uBriefyly discuss the changing role of technology for financial institutions;uOutline the trends in strategic responses of financial institutions towards an increasingly competitive marketplace.2.Economic Environment(3) Income2.Economic Environment(3) Income2.Economic Environment(4) Income2.Economic Environment(4) IncomeuDisposable income Disposable income 可支配收入可支配收入2.Economic Environment(5) Income2.Economic Environment(5) IncomeuPersonal We