An Overview of Marketing and the Marketing Environment Affecting Marketing Approaches.
AN OVERVIEW OF MARKETING AND THE MARKETING ENVIRONMENT AFFECTING MARKETING APPROACHES.
1. When going about developing a marketing approach, an organisation needs to look at several factors, these factors can affect an organisation directly and sometimes even indirectly, The external factors that Woolworths and Topshop would need to take into consideration would be firstly, the macro environment: like the political stability of the country, the socio-cultural, technical, legal, environmental (green), and the economic environment of the country. Currently Woolworths is looking at expanding into Africa, for this the macro environment is important, at the same time Topshop has already expanded throughout most of the world, but now they are finally coming to Africa with their first store opening in Johannesburg in November this year. It is important for companies to forecast and analyze the marketing environment before making decisions. Both these companies are very good at this, Woolworths however I would say, leads in the environmental aspect of the business strategy, their retail products are becoming greener, for e.g. their bamboo socks and many other clothing items that are green. Topshop however does not have a good green strategy and would need to start developing this strategy to be able to keep up as this is the future of retail goods and even fashion. The micro elements of both companies also need to be investigated, the companies both have strong leadership and employ people that can help them take the business forward. Both companies have many competitors, but when it comes to fashion Topshop is amongst the top performing, they cater mainly to the younger consumer, and Woolworths cater to the older consumer. The internal elements of both companies are fairly similar but their target market is very different. With the worldwide recession, most businesses have felt the pinch, it is vital for companies to identify opportunities and also threats, and
1. When going about developing a marketing approach, an organisation needs to look at several factors, these factors can affect an organisation directly and sometimes even indirectly, The external factors that Woolworths and Topshop would need to take into consideration would be firstly, the macro environment: like the political stability of the country, the socio-cultural, technical, legal, environmental (green), and the economic environment of the country. Currently Woolworths is looking at expanding into Africa, for this the macro environment is important, at the same time Topshop has already expanded throughout most of the world, but now they are finally coming to Africa with their first store opening in Johannesburg in November this year. It is important for companies to forecast and analyze the marketing environment before making decisions. Both these companies are very good at this, Woolworths however I would say, leads in the environmental aspect of the business strategy, their retail products are becoming greener, for e.g. their bamboo socks and many other clothing items that are green. Topshop however does not have a good green strategy and would need to start developing this strategy to be able to keep up as this is the future of retail goods and even fashion. The micro elements of both companies also need to be investigated, the companies both have strong leadership and employ people that can help them take the business forward. Both companies have many competitors, but when it comes to fashion Topshop is amongst the top performing, they cater mainly to the younger consumer, and Woolworths cater to the older consumer. The internal elements of both companies are fairly similar but their target market is very different. With the worldwide recession, most businesses have felt the pinch, it is vital for companies to identify opportunities and also threats, and