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

Idea generation - new product development process, New Product development ...

New Product development Process Idea Generation In the new-product development procedure, the first step is idea generation, which is the systematic discovery for new p

Show the economic aspects of advertising, Q. Show the Economic Aspects of A...

Q. Show the Economic Aspects of Advertising? Advertising has a variety of positive and negative economic aspects. The major positive economic effects are: It helps the producer

Give the example of marketing communications, Give the example of marketing...

Give the example of marketing communications For instance, many organisations in airline industry have shifted their attention to the needs of travel trade, customers and compe

Are multimedia contents not significant to e-business, Are multimedia conte...

Are multimedia contents not significant to e-business applications? Multimedia contents significancy to e-business applications: Rather Multimedia contents are most signifi

Brand equity, Brand equity: to understand the dynamics of brand, Aaker pro...

Brand equity: to understand the dynamics of brand, Aaker provides a framework called equity. Brand equity refers to a "set of assets and liabilities of a brand, its name and symbo

psychological or functional motive?, The purchase of the smartphones by th...

The purchase of the smartphones by the netizens has a psychological or functional motive?

Case study solution, why mayo clinic i so good at customer service

why mayo clinic i so good at customer service

Show the ethical aspects of advertising, Q. Show the Ethical aspects of adv...

Q. Show the Ethical aspects of advertising? Promotes Social Evils: - A few advertisements give birth to social evils. They demand to buy the products which are injurious to h

What are the advantages of exporting in marketing, What are the advantages ...

What are the advantages of exporting in marketing? The advantages of exporting are illustrated in below: • Manufacturing is home based therefore, this is less risky than ove

Assignment 5, 1. Nike is one of the most recognized and loved brands in the...

1. Nike is one of the most recognized and loved brands in the world. Based on the definition of a brand, how does Nike epitomize a good brand? 2. Brands grow over time, but should

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