Various types of marketing environment, Marketing Management

Q. Explain various factors in marketing environment & tell about the need to analyze the marketing environment?

Ans.: Purpose of marketing environment analysis are following:-

(1)To get know where the environment is leading, to view and size up the relevant events and trends in the environment circumstance.

(2)Strategic response to environment is promising only with correct environment analysis.

(3)To assess the scope of several chances & select those that can favorably impact the business.

(4)To help in securing the right fit among the environment and the business unit which is the crux of marketing?

The marketing environment consists of the following factors:-

  1. Demographics: It is major element to be studied in environment analysis. sevral factors relating to people, like size, age distribution, growth rate and religious composition, require to be studied. Aspects likewise composition of, household patterns, workforce, regional characteristics, population shifts etc. also require to be studied as they are a part of demographic environment.
  2. Socio-cultural Environment:  It is another significant component of the environment. Traditions, Culture, values beliefs, & lifestyles of the people in a given society give impact on the socio-cultural environment.
  3. Culture: It is the joint result of factors like language, religion education & upbringing. Meaningful, information on the lifestyles, consumption habits and buying behavior can be getting through a survey of socio-cultural environment. Cultural shifts carry with them marketing opportunities and threats.
  4. Social Class: It is one essential concept in socio cultural environment. A social class is determined by, occupation, income, location, of residence etc. Every class has its own standards with respect to behaviors, lifestyle etc., they are called as class norms or class values. These particular values have a strong bearing on the buying behavior and consumption pattern.
  5. Economic Environment: The factors to be notice under economic environment are :-
  • common Economic conditions
  • Rate of development of the economy, rate of growth in each sector of the economy
  • Economic conditions of different segments of the population, their disposable purchasing power ,income, class etc
  • interest rates and Credit availability
  • Prices, Income & consumption spending
  • Income, prices & consumption spending
  • Foreign exchange reserves
  • Exchange rates
  • Tax rates
  • Behavior of capital market
Posted Date: 10/15/2012 3:41:32 AM | Location : United States







Related Discussions:- Various types of marketing environment, Assignment Help, Ask Question on Various types of marketing environment, Get Answer, Expert's Help, Various types of marketing environment Discussions

Write discussion on Various types of marketing environment
Your posts are moderated
Related Questions
As this course progresses collect examples of promotional materials and advertising from various health related organizations.  You can select various media forms but be sure to in

Illustrates Advertisement and Ethics together in points? Advertisement and Ethics: Points of both illustrated below: a) The Advertising Standards Council of India (ASC

what is branding???

What are the procedures of export under deferred paymente?

What are the requirements to make finished goods for consumers? All needs to make finished goods for consumers are as given below: i. Installations: For producing any prod


Operational CRM technique is the element of Customer Relationship Management that handles the actual interactions with customers, characteristically in the form of call centers, bl

1.Considering the concept of product life cycle, where would you put video games in their life cycle?

What types of tools use in consumer promotion scheme? Consumer promotion Schemes:– 1. Samples: Offer a free amount of a service or product. Sampling is the most e

Problem 1: Discuss the formulation of Sales strategy in brief. Definition of sales Strategy Formulation of Sales Strategy Transportation Problem 2: Compa