Analysis of Marketing Environment - Research Paper Example

Marketing Environment Analysis 3 Demographic The clientele of Executive Speaking comprises primarily of managers and business heads who are at the top tier of the organizational hierarchy. These people are typically in their mid 40s to early 50s. Seeing as how majority of the Australian people fall in the age category of 15 to 65 years and as a whole is ageing, this means there is a significant population of potential clients for the company. Executive Speaking allows these older personnel to communication in an exciting and non-boring way with their younger audiences.

Another relevant aspect to this is that there is an increasing trend in this day and age to have younger people i.e. in their late 20s and 30s to be recruited for higher management positions. Executive Speaking is currently not directly targeting this burgeoning class but it should. Despite the birth rate being relatively low at 12.33 per 1000 population (http://www.indexmundi.com/australia/birth_rate.html), Australia still has a significant younger generation. Australia also has a wide variety of immigrant population which has settled here from all over the world including Asia, Middle East and Africa.

A lot of these immigrants come in at middle to high level management positions and are often required to do public speaking. Executive Speaking plays a very important role in training these managers so they are eloquent and confident enough to communicate with the Australian audiences. 1.3.2 Economic Training for public speaking, especially of senior management, is not available to every company due to cost constraints. Executive Speaking offers a great service, but at a high price tag. In this day and age of cost cutting, most companies are unable to spend on executive training.

However, in 2009, the Rudd government declared that Australia is the only advanced economy in the world which was not in recession (Tindall 2009). This was mostly due to the interdependence of the Australia and China economies and the intrinsic self-reliance and financial resilience of Australia, according to the OPEC. This means that companies are operating in a healthy economy and have healthy cash flows. Recent figures at the Trading Economics website (http://www.tradingeconomics.com/australia/gdp-growth) show that the Australia economy witnessed 1.

2% less growth in the first quarter of this year. This was primarily due to the flooding in Queensland in late 2010 and early 2011 which led to much destruction in the coal producing regions, thus undermining the coal exports of the country. The GDP slowed down resultantly in March 2011, said the Australian Bureau of Statistics (http://www.abs.gov.au/ausstats/abs@.nsf/mf/5206.0). But overall, the country has witnessed a steady GDP growth over the past couple of decades, bearing the fruitfulness of the country’s key revenue generating assets of its mineral and natural resources.

This shows that the economic prosperity of the country will remain steady; Businesses will organically grow. These facts are in favour of Executive Speaking as its target market remains economically sound. 1.3.3 Social and Culture Australia has a rich mix of Capitalists and a big blue collar working class (Graetz & McAllister 1994). The Australian people are very progressive and forward thinking. They understand the need of having effective communication in businesses, especially when it comes to the public speaking needs for the senior managers.

The traditional European links of the Australian people have dampened over the years, mainly due to immigrants. The immigrants form a large chunk of the population now and shape the local culture. They are educated and skilled people, occupying good positions in the workplace. Despite their different background, they understand the need for confidence and articulation; they need public speaking skills but are more anxious due to their different accents and body language. They need proper training.

There are also many more women in the workplace at higher level positions, who need a stronger command over public speaking to overcome the likely biases the audience has. 1.3.4 Political and Legal Executive Speaking is an important part of the training and HRM sector. Public speaking is very closely related with the Public Relations of a company and that makes its role crucial. Top management at the company is often required to address various types of gatherings to answer questions and concerns, hold press conferences, announce the company’s ethical and legal stance and remark on issues such as CSR, support (or lack of it) for political campaigns, environment.

This is a forum of great responsibility and accountability. Failure to speak correctly can result in legal and political hassles for the company. 1.3.5 Technology The primary source of traffic for the company is its website. There are many other avenues to reach clients today including social media marketing such as Facebook, Twitter and LinkedIn, mobile apps, e-Readers and internet marketing. For Executive Speaking, these make possible more access to consumers. Services like Skype allow training to be carried without having to be physically together.

Lastly, the business needs to follow the trend of having an interesting blog. References 5206.0 - Australian National Accounts: National Income, Expenditure and Product, Mar 2011. Australian Bureau of Statistics. Viewed 6 September 2011 < http://www.abs.gov.au/ausstats/abs@.nsf/mf/5206.0> Althaus, C, Bridgman, P, Davis, G. 2008, The Australian Policy Handbook. Allen & Unwin, NSW Australian Birth rate, 2011, IndexMundi.com. Viewed 7 September 2011 Graetz, B & McAllister, I 1994, Dimensions of Australian Society, Palgrave Macmillan, New Yarra Karen Tindall, K 2009, Framing the global economic downturn: crisis rhetoric and the politics of recessions.

ANU E Press, Canberra, ACT Organisation for Economic Co-operation and Development, 2010, Australia: towards a seamless national economy, OECD Publishing,