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

Explain concept of product line and product mix, Question : (a) Describ...

Question : (a) Describe with examples the concept of product line and product mix. (b) Compare and contrast Reverse Positioning and Breakaway Positioning strategies. (c)

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

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

Consumer behaviour, people have a peculiar behaviour over a product and why...

people have a peculiar behaviour over a product and why is it so.How a product is altered to attract customers? What are the techniques companies follow to retain and add new custo

Subjective method for measuring advertising effectiveness, Q. Subjective me...

Q. Subjective method for measuring advertising Effectiveness? Subjective method for measuring advertising Effectiveness: - There are a variety of methods given by different e

Block box, consumer mind is a block box

consumer mind is a block box

branding, which retailers have the strongest image and equity in your mind...

which retailers have the strongest image and equity in your mind? Think about the brands they sell. Do they contribute to the equity of the retailer? conversely, how does that reta

Assignment problem , traveling salesman problem examples showing table and ...

traveling salesman problem examples showing table and graphs

Define organizational buying decision process in briefly, Define the Organi...

Define the Organizational Buying Decision Process in briefly. The Organizational Buying Decision Process: Business buyers do not buy goods for only personal consumption.

Explain about the tangible goods, Explain about the Tangible Goods   ...

Explain about the Tangible Goods   Most goods, whether these are industrial goods or consumer goods and whether these are durable or non-durable, fall in this category as the

State the size and geographic dispersion of target audience, State the Size...

State the Size and Geographic Dispersionof target audience Final characteristic concerns the size and geographic dispersion of target audience. A consumer audience, often nati

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