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

Management, technolgoy can change the following three factors? a. politics ...

technolgoy can change the following three factors? a. politics b. lifestyle c. production process d. buying patterns

Consumer buying behaviour and industrial buying behaviour, Question 1: ...

Question 1: Discuss the differences and similarities between consumer buying behaviour and industrial buying behaviour. Question 2: For any organization of your choice,

Selection of an advertising agency by image of agency, Q. Selection of an a...

Q. Selection of an advertising agency by Image of Agency? Image of Agency:- Prior to selecting the ad-agency advertiser must enquire about its integrity, image, its ethical s

Enterprise factors affecting channel decisions, Company of the enterprise f...

Company of the enterprise factors: the choice of channel is also influenced by company characteristics such as its financial position, size, product mix, morale of its employers,

Strategic and distinct comprtitors.., 2types of competitors strategic and d...

2types of competitors strategic and distinct competitors and also identify you strategic competitor and also identify strength and weaknesses of strategic competitor.

Describe the freeze -thaw activity, Describe the freeze -thaw activity ...

Describe the freeze -thaw activity Repeated cycles of freezing and melting of water in rock  called as freeze -thaw activity or frost action widen the cracks and may even split

Show the economics benefits of outdoor recreation, Question 1: The exte...

Question 1: The extensive use of outdoor recreational attractions based in natural areas has resulted into increased negative environmental and social impacts. Using local e

Modules in market implementation evaluation and controlling, How many types...

How many types of modules are included in Market Implementation Evaluation and Controlling? The five modules of MIEV or Market Implementation, Evaluation and Controlling are

Illustrates export path of entry in direct and indirect ways, Illustrates t...

Illustrates the export path of entry in direct and indirect way? As two possibilities, marketers can adopt both export path as an “aggressive” or “passive”. Entry through the h

Pryamid, pryamid structure at information system

pryamid structure at information system

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