marketing environments
MARKETING ENVIRONMENT
The aim of this lecture is:
• To describe important role of Marketing Environment.
• To differentiate between Macro and Micro Environments.
• To assess the impact of Marketing Environment on Marketing Practices.
• To describe various method/Model of Marketing Environment Scanning.
Background Information
Marketing cannot be practiced in a vacuum; as a business function is affected by various factors or elements within the business environments. According to Lancaster and Massingham (1993), a company’s marketing environment consists of the factors and forces that affect the company’s ability to develop and maintain successful transaction with its targeted customers. Business environments are dynamic and it requires enough attention to ensure that the environment are monitored and does not bring miserable effects to the organization.
What is Marketing Environment?
Marketing Environment can be described as those factors or elements which are surrounding marketing activities and usually affect the decisions and activities of marketing negatively or positively. It consists of both controllable and uncontrollable factors which determine the success or failure of the organization. The controllable factors refer to those elements which can be managed and monitored by the organization in order to ensure they bring positive impact rather than negative impact. On the other side, uncontrollable factors are those factors which an organization has no direct control on them. It is very difficult and sometimes is not possible to control them. The only way that can be done by the organization is to use its internal efforts to reduce the impact of them to the organization activities. Furthermore, uncontrollable factors are usually classified into two groups: one is Macro-environment and the other is Micro-environment.
Macro-environment
These are external factors which cover the wide range of economic and business activities; its impact goes too
The aim of this lecture is:
• To describe important role of Marketing Environment.
• To differentiate between Macro and Micro Environments.
• To assess the impact of Marketing Environment on Marketing Practices.
• To describe various method/Model of Marketing Environment Scanning.
Background Information
Marketing cannot be practiced in a vacuum; as a business function is affected by various factors or elements within the business environments. According to Lancaster and Massingham (1993), a company’s marketing environment consists of the factors and forces that affect the company’s ability to develop and maintain successful transaction with its targeted customers. Business environments are dynamic and it requires enough attention to ensure that the environment are monitored and does not bring miserable effects to the organization.
What is Marketing Environment?
Marketing Environment can be described as those factors or elements which are surrounding marketing activities and usually affect the decisions and activities of marketing negatively or positively. It consists of both controllable and uncontrollable factors which determine the success or failure of the organization. The controllable factors refer to those elements which can be managed and monitored by the organization in order to ensure they bring positive impact rather than negative impact. On the other side, uncontrollable factors are those factors which an organization has no direct control on them. It is very difficult and sometimes is not possible to control them. The only way that can be done by the organization is to use its internal efforts to reduce the impact of them to the organization activities. Furthermore, uncontrollable factors are usually classified into two groups: one is Macro-environment and the other is Micro-environment.
Macro-environment
These are external factors which cover the wide range of economic and business activities; its impact goes too