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

Caselet, Considering the concept of product life cycle, where would you put...

Considering the concept of product life cycle, where would you put video game in their life cycle

Marketing environment, identify the major trends in the firm''s natural and...

identify the major trends in the firm''s natural and technological environment.

State the term premium pricing briefly, State the term Premium Pricing brie...

State the term Premium Pricing briefly? Premium Pricing: This price strategy applied to various version of to similar product. It is a better version and a fundamental or

#title., what are the pricing objectives?

what are the pricing objectives?

Marketing information system decision, Marketing information system decisio...

Marketing information system decision: it is the marketing information system the marketing information system necessary to understand why particular information is needed by any

Cisco case tsudy, How is building a brand in a business-to-business context...

How is building a brand in a business-to-business context different from doing so in the consumer market?

MKT 421 Final Exam - 2014, download here http://helpfinalexams.com/exam/91...

download here http://helpfinalexams.com/exam/91/MKT-421-Final-Exam----2014

Describe what is src and what are the steps to avoid src, Question 1: T...

Question 1: There is an ongoing debate between "standardization" and "adaptation" pertaining to global advertising. Critically evaluate the different sides of the arguments in

Responsibility of marketing communications manager, Responsibility of marke...

Responsibility of marketing communications manager Tasks are undertaken in a context within which there may be many episodes or only a few. Note that more than one message is o

Allocate budget to total utility, Jack is deciding how to spend the $6 budg...

Jack is deciding how to spend the $6 budget he has allocated for today's telephone calls.  There are only two people he intends to call:  his girlfriend Jill, and his old high scho

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