Marketing Environment

Marketing Environment

1. A company’s marketing environment

   • The marketing environment
     • Refers to all the internal and external factors that influence how a company plans and executes its marketing efforts. These factors shape everything from campaign strategy to daily operations.
   • Microenvironment
     • Nearby factors that affect a company's ability to serve its customers, such as the company itself, suppliers, marketing intermediaries, customer markets and the public
     • The micro-environment consists of customers, partners, and competitors The most important aspect of micro-environment is the customer market

2. The microenvironment

   • The Company
     • Consists of internal departments: management, finance, R&D, purchasing, production, and accounting.
     • All departments must coordinate to support the marketing strategy.
   • Suppliers
     • Provide necessary materials, equipment, and services for production.
     • Issues like price changes or delays can affect quality and customer satisfaction.
     • Maintaining strong supplier relationships ensures smooth production and stable quality.
   • Marketing intermediaries
     • Marketing Intermediaries are one or more organizations and individuals that act as a bridge between manufacturers and consumers in the distribution of products.
     • Marketing intermediaries assist manufacturing businesses in marketing, selling, and shipping products to customer
   • Competitors
     • Competitors are organizations or individuals that offer similar products or services and aim to satisfy the same customer needs.
     • To succeed, a company must create a strategic advantage by clearly differentiating its offerings and positioning them effectively in customers’ minds to compete successfully in the market.
     • Example
       • Company: Highlands Coffee
       • Competitors: The Coffee House, Starbucks, Phúc Long, Trung Nguyên Legend
   • Publics
     • Publics are groups that have actual or potential interest in, or influence over, a company’s ability to achieve its goals.
     • Financial publics
     • Media publics
     • Government publics
     • Citizen-action publics
     • Local publics
     • General public
     • Internal publics
   • Customers
     • are individuals or organizations that buy or use a company’s products or services to satisfy their needs and wants.
     • Consumer markets
     • Business markets
     • Reseller markets
     • Government markets
     • International markets

3. The macroenvironment

   • The macro-environment refers to the broad, uncontrollable external forces that impact an organization's or industry's performance, such as economic, demographic, natural , technological, political , and cultural forces
   • Demography
     • Demography is the study of human populations in terms of size , density, location, age, gender, race, occupation , and other statistics.
     • Demography environment involves people , and people make up markets
     • Baby boomers(1946 -1964)
       • high demand for financial services, travel and entertainment , dining , fitness , and health products . They are the wealthy generation.
     • GenX (1965 -1976)
       • responsible spending
     • Millenials ( 1977 - 2000)
       • they are attractive markets for products such as cars, motorbikes, phones, travel and entertainment.
     • GenZ ( 2000 - 2012)
     • Gen Alpha ( after 2012)
   • Marketing approach
     • Student accounts and savings programs target young people.
     • Premium credit cards and investment services target professionals and high-income customers.
   • generational environment
     • is important in segmenting people by lifestyle or life stage instead of age.