Marketing environment, Marketing Management

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.

Posted Date: 11/8/2012 1:05:10 AM | Location : United States







Related Discussions:- Marketing environment, Assignment Help, Ask Question on Marketing environment, Get Answer, Expert's Help, Marketing environment Discussions

Write discussion on Marketing environment
Your posts are moderated
Related Questions
what are the challenges that a production manager faces?

Select THREE of the godrej consumer products ltd. SBUs and undertake a PEST analysis with regard to its business. Identify products which can be considered for launch by the select

Factors affecting pricing decisions: the pricing decisions are influenced by the many factors. The price policies should be consistent with the pricing objectives. The influence f

Utility of the product life cycle 1.       As forecasting tool: the study of product life cycle is an important tool for sales forecasting its study foretells that problems a

Well Water has been in business nearly 100 years, has always been owned by the Gerry family, and is the second largest bottled water firm in the area in terms of annual sales. To h

Industrial Market All individuals or organization that produce or acquire goods or services that are incorporated into the production of other finished goods or services subseq

Illustrates the term Pricing Strategies? Pricing Strategies: As developing pricing strategies for the global market, one should consider the external and internal environ

Global Marketing The activity of a global corporation  that searches to get long- run, large-scale production efficiencies by producing standardized products of good value and

Illustrates the working of second barrier of exchange in channels distribution? The second barrier to smooth exchange procedure arises due to time of production and the time at

Suppose D1 represents the demand curve for paperback novels, D2 represents the demand curve for gasoline, S1 represents the supply curve for paperback novels and S2 represents the