Marketing Environment
Introduction to Marketing Environment
Firms are affected by lots of different things; a firm's marketing environment is made up of all of the things that affect the way it operates. Some of the factors in a firm's marketing environment can be controlled by the firm but some are uncontrollable. Firms need to understand their marketing environment so that they can make the most of positive factors and manage the impact of negative factors. The market environment is a marketing term and refers to factors and forces that affect a firm’s ability to build and maintain successful relationships with customers.
In order to correctly identify opportunities and monitor threats, the company must begin with a thorough understanding of the marketing environment in which the firm operates. The marketing environment consists of all the actors and forces outside marketing that affect the marketing management’s ability to develop and maintain successful relationships with its target customers. Though these factors and forces may vary depending on the specific company and industrial group, they can generally be divided into broad micro environmental and macro environmental components.
For most companies, the micro environmental components are: the company, suppliers, marketing channel firms (intermediaries), customer markets, competitors, and publics which combine to make up the company’s value delivery system. The macro environmental components are thought to be: demographic, economic, natural, technological, political, and cultural forces.
1. The Company’s Microenvironment
The forces close to the company that affect its ability to serve its customers, the company, market channel firms, customer markets, competitors and publics, which combine to make up the firm’s value delivery system, is known as micro-environment.
The micro marketing environment consists of certain forces that are part of an organizations marketing process, but remain external to the
Firms are affected by lots of different things; a firm's marketing environment is made up of all of the things that affect the way it operates. Some of the factors in a firm's marketing environment can be controlled by the firm but some are uncontrollable. Firms need to understand their marketing environment so that they can make the most of positive factors and manage the impact of negative factors. The market environment is a marketing term and refers to factors and forces that affect a firm’s ability to build and maintain successful relationships with customers.
In order to correctly identify opportunities and monitor threats, the company must begin with a thorough understanding of the marketing environment in which the firm operates. The marketing environment consists of all the actors and forces outside marketing that affect the marketing management’s ability to develop and maintain successful relationships with its target customers. Though these factors and forces may vary depending on the specific company and industrial group, they can generally be divided into broad micro environmental and macro environmental components.
For most companies, the micro environmental components are: the company, suppliers, marketing channel firms (intermediaries), customer markets, competitors, and publics which combine to make up the company’s value delivery system. The macro environmental components are thought to be: demographic, economic, natural, technological, political, and cultural forces.
1. The Company’s Microenvironment
The forces close to the company that affect its ability to serve its customers, the company, market channel firms, customer markets, competitors and publics, which combine to make up the firm’s value delivery system, is known as micro-environment.
The micro marketing environment consists of certain forces that are part of an organizations marketing process, but remain external to the