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

Above the line and below the line communication, Above the line and below t...

Above the line and below the line communication What has happened hence is that the promotional mix has developed such that original emphasis on heavyweight mass communication

Consumer behaviour, Consumer Behaviour       Consumer buying behaviour ...

Consumer Behaviour       Consumer buying behaviour refers to the buying behaviour of final consumer's individuals and households who buy goods and services for personal consump

Customer relationship management, Customer Relationship Management Cus...

Customer Relationship Management Customer relationship management (CRM) has been described narrowly as a customer database management activity. Customer relationship manage

Explain about the term ownership in briefly, Explain about the term ownersh...

Explain about the term ownership in briefly. Ownership: The most extensive type of participation of hundred percent ownerships and this involves the greatest commitment w

Rough Road Ahead: Marketing and the Economy, Ask question #Minimum 100 word...

Ask question #Minimum 100 words accept 1. Based on the segmentation variables discussed in the chapter, construct a profile for Vanilla Bicycle’s probable target market. ed#

Name the factors affecting pricing decisions, Name the factors affecting pr...

Name the factors affecting pricing decisions a) Cost b) Demand c) Competition d) Marketing Objectives e) Government Regulation

Define the term public relation in briefly, Define the term Public Relation...

Define the term Public Relation in briefly. Meaning of Public relations or PR is the management of internal and external communication certainly of an organization to create

Price, A negative reaction on the part of buyer to price change by your com...

A negative reaction on the part of buyer to price change by your company

What do you meant by the term macro environment, Question 1: (a) Expla...

Question 1: (a) Explain what you understand by the term marketing concept and how it evolved from the production concept and the sales concept? (b) How does the marketing

What is way to define value in marketing of customer, What is the way to de...

What is the way to define the customer’s value in marketing? As we can define the customer value like the difference among the values the customer gains by owning and using a p

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