Marketing environment, Marketing Management

Assignment Help:

Marketing Environment

In order to properly identify opportunities and monitor threats, the company ought to begin with a thoroughgoing understanding of the marketing environment in which the firm operates. The marketing environment consists of all the forces and actors outside marketing that influence the marketing management's ability to maintain and develop successful relationships with its focused customers. Though these factors and forces can vary depending on the particular company and industrial group, generally they may be divided into wide macro-environmental and micro-environmental components. For most of the companies, the micro-environmental components are: the suppliers,company, marketing channel firms (intermediaries), competitors, customer markets and publics. The macro-environmental components are thought to be: economic, demographic, natural, political, technological and cultural forces. The intelligent marketing manager knows that he or she cannot always influence environmental forces. Smart managers can take a proactive, instead of reactive, approach to the marketing environment.

Since a company's marketing management gather and processes data on these environments, it ought to be ever vigilant in its efforts to apply what it studied to developing opportunities and dealing with threats. Studies have shown that outstanding companies not just have a keen sense of customer but an appreciation of the environmental forces swirling around them. In constant looking at the dynamic changes which are occurring in the aforementioned environments, companies are better organized  to  adapt  to  change,  prepare  long-range  strategy,  meet  the  requirements  of  today's  and tomorrow's  customers,  and  compete  with  the  intense  competition  exit  in  the  global marketplace.


Related Discussions:- Marketing environment

Price and promotion, Price       The big sales will come from the ice c...

Price       The big sales will come from the ice creams and the diet cake following the representatives prices RM2 for a single scoop of ice cream, RM3 for a double scoop( excl

State the relationship marketing principles, State the relationship marketi...

State the relationship marketing principles Numerous organisations use relationship marketing principles, manifest in the form of customer relationship marketing or loyalty mar

Enumerate about the non-durable goods, Enumerate about the Non-durable Good...

Enumerate about the Non-durable Goods Non-durable goods are products which are normally consumed in one go or last for a few uses. Illustrations of such products are soap, s

Draw a supply curve, Suppose the US and Mexico both produce semiconductors ...

Suppose the US and Mexico both produce semiconductors and auto parts and the US has a comparative advantage in semiconductors while Mexico has a comparative advantage in auto parts

Last barrier to exchange in channels distribution, What is the working of f...

What is the working of final or last barrier to exchange in channels distribution? All problem are signifies the discrepancy of quantity and assortment within the exchange proc

Public or transport carriers in distribution channels, Explain about the pu...

Explain about the public carriers or transport carriers in distribution channels. Public carriers or transport carriers: Transportation makes a cost centre within distrib

Differences between goods and services, Question: ‘The basic difference...

Question: ‘The basic differences between goods and services offer the biggest challenges to Service marketers'. With reference to services you are familiar with, discuss th

Line streching, what are the types of line streching? give its examples

what are the types of line streching? give its examples

What are perceptions of public about public relations, What are the percept...

What are the perceptions of the public about public relations? People frequently have the perception of public relations like a group of people who spin the whole thing. Spin c

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd