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

Assingment, identify and briefly four trends in the macro environment

identify and briefly four trends in the macro environment

How many key elements are comprised in green marketing, How many key elemen...

How many key elements are comprised in green marketing? Definition of green marketing has three key elements: a) This is a subset of the overall marketing activity. b) Th

ENVIROMENTAL FACTORS, WHAT ENVIROMENTAL FACTORS AFFECT SONYS PERFORMANCE

WHAT ENVIROMENTAL FACTORS AFFECT SONYS PERFORMANCE

How a buyer can decides in making a purchase, How a buyer can decides in ma...

How a buyer can decides in making a purchase? A buyer has to take few decisions while making a purchase. For such decision there are several situations/transaction made through

Pricing, how can we calculate pricing

how can we calculate pricing

Marketing myopia, Marketing Myopia This is a phenomenon experienced whe...

Marketing Myopia This is a phenomenon experienced when an organization becomes so involved in the actual procedure of selling its product that it loses sight of the true nature

Commercialization - new product development, Commercialization The eig...

Commercialization The eighth and last step in the new-product development procedure is commercialization. This step is introducing a fresh product into the market. The company

Ghost shopper, Ghost Shopper Ghost shopper is a marketing expert, posin...

Ghost Shopper Ghost shopper is a marketing expert, posing as a regular consumer, who is hired to monitor and evaluate the presentation skills and salesmanship of the store's sa

Consumer behaviour, explain VAL"s theory and each types of custmors

explain VAL"s theory and each types of custmors

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