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

Meaning of the promotion mix, Meaning of the promotion mix: Promotion m...

Meaning of the promotion mix: Promotion mix refers to the combination of the various promotional elements viz, advertising, personal selling, publicity and sales promotional te

State the term- public relations, State the term- Public Relations Pub...

State the term- Public Relations Public relations is 'the art and social science of analysing trends, predicting their consequences, counselling organisations' leadership and

Macro Market Enviroments impacts on retail industry, Describe four trends ...

Describe four trends in macro market environment in retail industry. Describe their impact in retail industry and highlight the implications in the industry

Wording of hawkins best and coneef about consumer behaviour, What is the wo...

What is the wording of the Hawkins Best and Coneef about consumer behaviour? In words of the Hawkins Best and Coneef as, “The field of consumer behaviour is the learning of i

Describe the key pricing strategies of marketing, "The service industry is ...

"The service industry is customer driven, and marketing thus focuses on the needs of the customer and involves finding out what the customer wants and expect first, before any atte

Characteristics of consumer behavior, Question 1: (a) What do you mean...

Question 1: (a) What do you meant by "consumer behavior"? (b) Show characteristics of consumer behavior. Question 2: (a) What are "attitudes"? (b) Show characte

Why does your subjects not have consumer behaviour, i need a literature rev...

i need a literature review written by you on a consumer behaviour . Please help I cannot send any email it says error

Advertising and sales promotion, Advertising and sales promotion Advert...

Advertising and sales promotion Advertising and sales promotion allow for a high level of control over the message, from design to transmission. Interestingly, they afford only

Discuss the meaning of packaging by elaborating, Discuss the meaning of pac...

Discuss the meaning of packaging by elaborating. The definition of packaging shows that package into the definite container or wrapper. Therefore packaging is a one of the sign

Nature of the marketing, Nature of the marketing: 1.      Specialized ...

Nature of the marketing: 1.      Specialized business function: in the early days, the selling function did not call for any specialized skills as the sales could have been a

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