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

APPROACHES , VARIOUS APPROACHES THAT ARE FOLLOWED BY FMCG COMPANIES IN TEST...

VARIOUS APPROACHES THAT ARE FOLLOWED BY FMCG COMPANIES IN TEST MARKETING

Marginal rate of substitution, Michael Jordan lives in a world with only tw...

Michael Jordan lives in a world with only two goods:  basketballs and Gatorade.  Basketballs cost $10 each. Gatorade costs $2 per bottle. Point A on the graph below represents Jord

Marketing mix., number of channel levels of panasonic

number of channel levels of panasonic

What are the intangible goods, What are the Intangible Goods Intangi...

What are the Intangible Goods Intangible goods refer to services provided to individual consumers or to organisational buyers (industrial, institutional, commercial, governm

Determine the uses of marketing communications in business, Determine the u...

Determine the uses of marketing communications in business Organisations are all well-known brand-names however there are hundreds of thousands of smaller organisations which

Assignmet, Give a success story of marketing a goods in which a supplier ha...

Give a success story of marketing a goods in which a supplier has been dependable.

State the characteristics of communications, State the characteristics of c...

State the characteristics of communications Within market exchanges, communications are characterised by planning and formality. Relational exchanges are supported by more fre

Explain porters generic strategies, Question 1: Apply the PESTEL Model ...

Question 1: Apply the PESTEL Model to the Financial Services Sector in Mauritius, identifying opportunities and threats. Question 2: Analyse the steps in the Strategic

Effectiveness of marketing methods, 1.  How important do you feel the follo...

1.  How important do you feel the following attributes are for a bakery 1: Very Important       5: Not important at all Variety of Products                1 2 3 4 5

Marketing communication , 1. You have been asked to develop a DRTV campaign...

1. You have been asked to develop a DRTV campaign for a product. Choose a specific product in the market today for illustration. a. What would you want to know about the produc

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