2 Be able to use the concepts of segmentation, targeting and positioning
lifestyle and life cycle variables; consumer and organisational buying Segmentation: process of market selection; macro and micro segmentation; bases for segmenting markets, (geographic, demographic, psychographic Buyer behaviour: dimensions of buyer behaviour; environmental influences; personal variables – demographic, sociological, psychological – motivation, perception and learning; social factors; physiological stimuli; attitudes; other
and behavioural); multi-variable segmentation and typologies; benefits of segmentation; evaluation of segments and targeting strategies; positioning; segmenting industrial markets; size; value; standards; industrial classification Positioning: definition and meaning; influence over marketing mix factors
Macro Environment: Discuss the environmental scanning; political, legal, economic, sociocultural, ecological and technological factors.
The PESTEL frame work categorises environmental influences into six main types: political, economic, social, technological, environmental and legal. Thus PESTEL provides a comprehensive list of influences on the possible success or failure of possible strategies. These factors affect the Easy jet company for example the strict govt regulations may prevent easy jet’s market growth. The economical factor may affect the profit margin when it comes about the fuel prices and the recession can decrease the customers. They may rather prefer to go for teleconferencing than to travel. The consumer is becoming more and more aware environmental factors which affect the environment. Easy Jet would need to ensure a strict compliance to the Environmental issue, and services.
Figure 2.
Source: Michael E. Porter. (2008). The Five Competitive Forces that Shape Strategy.
Micro Environment: Discuss the stakeholders (organisation’s own employees, suppliers, customers, intermediaries, owners, financiers, local residents,...