Ch. 4 - The Marketing Environment

Under Standing the External Environment can mean the difference between your business succeeding or failing. The market changes drastically day by day, there is no time to wait for new and different trends. Businesses today must stay connected to the buyers market and preemptively figure out what trends and styles will be the next big money makers in the future.  As a marketing manager for the Martha Stewart Company would be Social Factors. What is the demographics on current buyers, and where? Who's cool and popular? In order to generate new business, Martha Stewart Living will require several Environmental Scanning through out the year to find information on the current market & trends, and new innovative markets with new buyers.    

                                TWEENS 

There are Millions upon Billions of people around the world making purchases everyday. Martha Stewart Living Company exudes the concept of American Values. America's Tweens (ages eight to twelve) generate 200 Billions in sales every year. Martha Stewart  markets to this group by encouraging creativity that can allow them to express themselves. Creating Travel Journals can  inspire Tweens to make something thing original and personalized. This project can allow them to record their memories by writing them down in their journals. They can also learn the art of scrapbooking by collecting different items or pictures and attaching them inside the book. This is an inexpensive way Martha Stewart  helps to educate a Tween, and helps the parents prepare them for school projects.

Travel Journals for Kids

Sources

Blank books, $1.75 each, barebooks.com
Two-inch black vinyl lowercase letters, $11.25 for 102, duall.com
Vinyl uppercase letters, 1" to 2", from $5.50, dickblick.com

http://www.marthastewart.com/1004214/travel-journals-kids?search_key=kids

 Self-Sufficiency, Upward Mobility, Work Ethic, Conformity, are the United States first values during the first 200 years that "strongly influenced"  peoples lifestyle according to MKTG Marketing Text Book 7 edition. These values still remain important in a buyer's life, however, mainstream social media not only connects Americans to new trends and styles, it influences the whole world to some extent.    

Buyers are influenced by their families, friends, and environments, but buyers are also influenced greatly by social media sites like Twitter, Facebook, YouTube, Instagram to name a few. According to MKTG Marketing Text Book 7 edition "1 minute out of every 5 spent on Internet worldwide was dedicated to social networking." People are constantly displaying their Component Lifestyles by sending pictures of new shoes, clothes, and accessories. They are also posting how-to-videos on the things they create such as new make up techniques and nail art designs.
Martha Stewart ideas and creations are displayed on social media sites like Pinterest  and Etsy.  These sites cater to weddings, birthdays, hoildays, food, and creating ideas on making cohesive events.  

Another growing demographic are Hispanic Americans, with an estimated population of  53 Million as of July 1, 2012 according to U.S. Census Bureau. Mexican, Puerto Rican, Dominican, and Cubans are some of the many Hispanic groups living in the United States that have a large Purchasing Power.  Martha Stewart.com has several Latino inspired recipes from Spanish Frittata, Braised Chorizo, and Spanish Styled Chicken promoting different herbs, spices, and ingredients used by Hispanics in their cooking.

Through websites like MarthaStewart.com, HomeDepot.com, Macys.com Martha Stewart is able to reach a large number of people from many different backgrounds all across the country. By obtaining endorsement deals with major department stores, she is able to market and advertise to the masses at large, and the Competitive Factors are a minor concern in retrospect.