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

Types of psychographic segmentation, Question 1: Describe the evolution...

Question 1: Describe the evolution of malls and specialty stores Detail explanation on ‘Evolution of Malls'. Detail explanation on ‘Speciality Stores and Malls'

Importance of the marketing in a seller''s or buyer''s market, Importance o...

Importance of the marketing in a Seller's or Buyer's market : A seller's market is one in which the demand for goods and in the services exceeds to the supply. In such a situati

Factors affecting the choice of distribution channel, Factors affecting the...

Factors affecting the choice of distribution channel Choice of an appropriate distribution channel is very significant as pricing as well as promotion strategy are dependent up

Differential between old and new concept of the marketing, Differential bet...

Differential between old and new concept of the marketing Basic of difference Old concept of the marketing New concept of the marketing

Fruit store, write an algorithm to calculate fruit for a fruit store for ex...

write an algorithm to calculate fruit for a fruit store for example apple = $1.00 and orange $2.00

Define the strategies for product positioning, Define the Strategies for Pr...

Define the Strategies for Product Positioning. Product positioning is attained through a variety of marketing strategies and programs within product design, distribution and pr

Deciding on media for advertising, Deciding on media for advertising: ...

Deciding on media for advertising: Deciding on reach, frequency, and impact: media selection involves finding the most cost -effective media to deliver the desired number of e

What are levels in internal marketing, What are levels in internal marketin...

What are levels in internal marketing? Internal marketing should take place at two levels. Initial level, the various marketing functions are sales force, customer service, a

Marketing Management Philosophies, Characteristics of Sellings oriented con...

Characteristics of Sellings oriented concept of marketing, Marketing Management

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