Marketing Environment

Marketing Environment

1. Microenvironment: The actors and forces outside mkt that affect marketing managements ability to build and maintain succesful relationships with target customers

   • The Company: Mkt management takes over company groups into account
   • Suppliers: They provide the resources needed by the company to produce its goods and services
   • MKT intermediaries: Help the company promote sell and distribute its products to final buyers
   • Competitors: To be succesful a company must provide greater customer value and satisfaction than its competitors do.
   • Publics: any group that has an actual or potential interest in or impact on an organizations ability to achieve its objectives.
     • Financial Publics: the people that affect a company’s funding. Banks, investors
       • Media publics: This type of publics generally use newsletters, articles, blogs, magazines, radio announcements etc. to make a perception about a business in the minds of the stakeholders.
         • Government publics: The Government rules and regulations need to be followed while operating a business.
           • Local publics: These include the neighbourhood citizens, general local bodies etc. A community relations officer needs to be appointed to solve the issues of the local public.
             • General publics: General public includes the general customers. The customers brand perception is very important for the company’s success
               • Internal publics: A company’s employees, managers, distributors, suppliers, volunteers, stakeholders, Board of Directors etc. are very important assets of a company. If the internal public is happy and content, then only they will try to increase the goodwill of the company, in the outside world.
                 • Citizen-action publics: These are the voluntarily or involuntarily formed public groups for the benefit of the general consumer. These include consumer groups, environmental groups and minority groups etc.
   • Customers the most important actors in the companys microenvironment

2. Macroenvironment: The larger societal forces that affect the microenvironment

   • Demographic environment: The study of human populations in terms of size density location age gender race occupation and other statistics
     • Economic Environment: The Economic forces relate to factors that affect consumer purchasing power and spending patterns
       • Cultural environment: The Socio-Cultural forces link to factors that affect society’s basic values, preferences and behavior.
         • Technological Environment: Technological forces form a crucial influence in the Macro Environment. They relate to factors that create new technologies and thereby create new product and market opportunities.
           • Natural Environment: Ecological, or natural forces in the Macro Environment are important since they are about the natural resources which are needed as inputs by marketers or which are affected by their marketing activities
             • Political Environment: Every business is limited by the political environment. This involves laws, government agencies and pressure groups. These influence and restrict organisations and individuals in a society. Therefore, marketing decisions are strongly influenced and affected by developments in the political environment.