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

Derivative Differentiation, The derivative of a function is an important to...

The derivative of a function is an important tool in mathematics. The motion of derivative was introduced to solve problems of Physics concerning motion of an object. The velocity

What are the disadvantages of joint ventures, What are the disadvantages of...

What are the disadvantages of joint ventures? Joint ventures also have disadvantages, which are given below: • Partners do not consist of full control of management • May

Explain selling of product correspond to views of customers, Explain the se...

Explain the selling of a product correspond to the views of customers. In condition, the company is preparing an offering mix of products, prices and services and utilizing a c

State the methods of price fixation, State the Methods of price fixation ...

State the Methods of price fixation Methods of fixing price can be broadly divided into the subsequent categories. 1. Cost based pricing 2. Competition based pricing 3

Steps in the marketing planning plans, Steps in the marketing planning plan...

Steps in the marketing planning plans: in a corporate set up, two levels of planning are in practise 1.       Comprehence or overall company planning, and 2.       Specific

What is the meaning of selling concept, What is the meaning of selling conc...

What is the meaning of selling concept? Meaning: Selling concept declares that consumers will not buy adequate of the organization’s products unless the organization unde

Marketing and society, Marketing and Society In working to meet the co...

Marketing and Society In working to meet the consumer's requirements, marketers can take some actions that are not accepted by all publics or consumers within the social secto

Examine the umbrella and portfolio approaches to branding, Question 1: ...

Question 1: Critically examine the importance of product design, New Product Development (NPD) and explain the reasons for failures in NPD and how would you overcome them?

Costing and qualtrics questionnaire, How do I work out the costings for the...

How do I work out the costings for the rsearch and how many questions should I be asking for a telephone interview?

Creative skills and new ideas in ads, Creative Skills and New Ideas:- Crea...

Creative Skills and New Ideas:- Creativity is the major element of advertising. If the ad-agency is competent of generating new ideas which are creative and profitable then such a

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