...5/3/2014 Topic Outline MARKETING ENVIRONMENT Principles of Marketing Lecture 2 Scanning the marketing environment Components of the marketing environment. Impact of the macro-environment. Impact of the micro-environment. Marketing Environment • Scanning the Marketing Environment Companies scan the marketing environment in order to change and adapt their marketing strategies – as it provides opportunities and threats. In doing this companies must be proactive, It is pointless to conduct environmental scanning unless marketing strategies are changed to fit with the environment. A company’s marketing environment consists of the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers. 1 5/3/2014 Components of the Marketing Environment Macro-environment Micro-environment Macroenvironment: Demographic Changing age structure of the population Changing family structure The larger societal forces The forces close to the that affect the whole company that affect its ability to serve its customers: microenvironment: Political Company Economic Competitors Demographic Suppliers Cultural Marketing Intermediaries Technological Customers Natural Publics Increasing diversity Better-educated, more white-collar, more professional population Geographic shifts in population Macroenvironment: Demographic Demography: The study of human population in terms of...
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...Marketing Plan Executive Summary Background and Mission Statement Situational Analysis SWOT Objectives Target Market Selection Brand Positioning Strategic Marketing Mix which consists of the 4Ps Product that has three levels of product Price Place in terms of distribution channels Promotion in terms of advertising, marketing etc. Marketing Strategies in the next 12 months of existing brand of a certain product Classify consumer products in terms of the four categories known as convenience consumer product, shopping consumer product, specialty consumer product and unsought consumer product. Market Segmentation in terms of age group Microenvironment and macroenvironment Marketing Plan Executive Summary Background and Mission Statement Situational Analysis SWOT Objectives Target Market Selection Brand Positioning Strategic Marketing Mix which consists of the 4Ps Product that has three levels of product Price Place in terms of distribution channels Promotion in terms of advertising, marketing etc. Marketing Strategies in the next 12 months of existing brand of a certain product Classify consumer products in terms of the four categories known as convenience consumer product, shopping consumer product, specialty consumer product and unsought consumer product. Market Segmentation in terms of age group Microenvironment and macroenvironment Marketing Plan Executive Summary Background and Mission Statement Situational...
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...3 MARKETING AN INTRODUCTION Armstrong/Kotler Analyzing the Marketing Environment Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Chapter Outline • • • • • • • • • The Company’s Microenvironment The Company’s Macroenvironment Demographic Environment Economic Environment Natural Environment Technological Environment Political and Social Environment Cultural Environment Responding to the Marketing Environment 3- 2 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Marketing environment The actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers. • Studying the marketing environment allows marketers to take advantage of opportunities and combat threats • Marketing intelligence and research are used to collect information about the environment 3-3 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3- 3 Actors in the Microenvironment • The actors close to the company that affect its ability to serve its customers—the company, suppliers, marketing intermediaries, customer markets, competitors, and publics 3- 4 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Microenvironment- (1) The Company Top Management Finance R&D Purchasing Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Operations Accounting 3- 5 Microenvironment - (1) The Company ...
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...a company’s marketing environment and why marketers play a critical role in tracking environmental trends and spotting opportunities. The marketing environment surrounds and impacts upon the organization. There are three key elements to the marketing environment which are the internal environment, the microenvironment and the macroenvironment .Marketers build both internal and external relationships. Marketers aim to deliver value to satisfied customers, so we need to assess and evaluate our internal business/corporate environment and our external environment which is subdivided into micro and macro. The internal environment refers to the company and its existing products, marketing strategies. It also includes the strengths of the company with regard to manufacturing abilities, distribution capacities, and marketing abilities. Internal resources should also be considered while formulating a marketing strategy .Every manager in an organization observes the outside environment with disciplined methods marketing research and marketing intelligence for collecting information about the marketing environment. They also spend more time in customer and competitor environments. By carefully studying the environment, marketers can adapt their strategies to meet new marketplace challenges and opportunities. Example of how the internal environment would impact a company such as Walmart. We are looking at the immediate local influences which might include its marketing plans, how it...
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...27/04/2015 INTERNATIONAL MARKETING Chapter II- International Marketing Environment Chapter II- International Marketing Environment I Overview of International Marketing Environment II The Microenvironment III The Macroenvironment IV Cultural dynamics in assessing global market 2 I Overview of international marketing environment 1. What’s international marketing environment? Ø The actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers. § including controlable factors and uncontrolable factors § Affecting positively or negatively, ü What is difference between business environment and marketing environment? ü What is difference between marketing environment and international marketing environment? Ø The marketing environment consists of a microenvironment 3 and a macroenvironment 1 27/04/2015 2. Clasification International marketing Env. External environment Organization’s ability to control Internal environment macroenvironment Level of affection microenvironment International environment National environment Nation’s border in which Organization operates 4 II The Microenvironment 1. Definition • The actors close to the company that affect its ability to serve its customers- the company; suppliers, marketing intermediaries, customer markets,competitors, and publics. 2. The...
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...MKT10007 FUNDAMENTALS OF MARKETING ASSIGNMENT TEMPLATE Instructions for using this template: You can’t rely solely on this document when completing your assignment. You will need to also: * Check the Assessment Criteria / Breakdown of marks. * Study the learning materials closely. Make sure you apply what you learn to this report. * Search for good sources using the Library and cite them throughout the report to support your explanations. Before submitting your assignment * Delete this page * Delete all red text * Replace highlighted text with your own words Before submitting your assignment * Delete this page * Delete all red text * Replace highlighted text with your own words Notes: * It is not compulsory to use the format of this template – it is provided to help those who are new to this type of document. * This document is not intended to serve as an ideal format for all reports – always check specific assignment requirements. Include an assessment coversheet at the front of every assessment submitted. Please ensure that all sections are completed correctly before submission. | MKT10007 ASSIGNMENT COVER SHEET | DETAILS OF ASSIGNMENT | | STUDENT NAME: | ID: | | | UNIT CODE * NAME | MKT10007 Fundamentals of Marketing | ASSESSMENT TITLE /TOPIC | | TUTOR’S NAME: | | DATE OF SUBMISSION: | | | | DECLARATION | | Enter Y / N | I declare that:(the first four boxes must be completed...
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...The marketing environment surrounds and impacts upon the organization. There are three key elements to the marketing environment which are the internal environment, the microenvironment and the macroenvironment. Marketers build both internal and external relationships. Marketers aim to deliver value to satisfied customers, so we need to assess and evaluate our internal business/corporate environment and our external environment which is subdivided into micro and macro.Every manager in an organization observes the outside environment with disciplined methods—marketing research and marketing intelligence—for collecting information about the marketing environment. They also spend more time in customer and competitor environments. By carefully studying the environment, marketers can adapt their strategies to meet new marketplace challenges and opportunities. The microenvironment consists of the actors close to the company that affect its ability to serve its customers—the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. The macroenvironment consists of the larger societal forces that affect the microenvironment—demographic, economic, natural, technological, political, and cultural forces. Marketing research uncovers opportunities for marketers to get their messages across in the extreme changing promotional environment. Over time, the marketing mix must be altered because of changes in the environment in which consumers and businesses exist...
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...Macroenvironment Universe of sociological elements that affect a company's ability to serve its customers or sell its goods and services. There are six major macroenvironment forces: cultural, demographic, economic, natural, political, and technological. The cultural environment includes institutions and other forces that affect the basic values, behaviors, and preferences of the society-all of which have an effect on consumer marketing decisions. The demographic environment includes the study of human populations in terms of size, density, location, age, sex, race, occupation, and other statistical information. The economic environment consists of all factors-such as salary levels, credit trends, and pricing patterns- that affect consumer spending habits and purchasing power. The natural environment involves all the natural resources, such as raw materials or energy sources, needed by or affected by marketers and marketing activities. The political environment includes all laws, government agencies, and lobbying groups that influence or restrict individuals or organizations in the society. The technological environment consists of those forces that affect the technology and which can create new products, new markets, and new marketing opportunities. Microenvironment Elements close to a company that impact the company's ability to serve its customers. There are six components of the microenvironment: the company's internal environment, composed of the management personnel...
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...LOGO PRINCIPLES OF MARKETING BA003IU Nguyen Thi Hong An Nguyen Thi Hong An 1 Chapter 3 Analyzing the Marketing Environment 2 Nguyen Thi Hong An Lecture outline • Describe the environmental forces that affect the company’s ability to serve its customers • Explain how changes in demographic and economic environments affect marketing decisions • Identify the major trends in the firm’s natural and technological environment • Explain key changes in the political and cultural environments • Discuss how companies can react to the marketing environment. 3 Nguyen Thi Hong An 1 2 3 4 5 What is Marketing Environment Marketing Environment The actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with customers. Aspects of the marketing environment: Microenvironment Actors close to the company Includes all the factors close to the company that affect positively or negatively, its ability to create value for and relationship with its customers. Larger societal forces Macroenvironment that affect the microenvironment 4 Nguyen Thi Hong An 1. Company’s Microenvironment COMPETITORS SUPPLIERS PUBLICS MARKETING INTERMEDIARIES CUSTOMERS combine to make up the company’s value delivery network Nguyen Thi Hong An 1.1. The Company Top Management Finance R&D Purchasing Operations Accounting Nguyen Thi Hong An 1.2. Supplier Suppliers...
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...The Marketing Environment With the advancement of the development of technology and ideology in the modern society, sales increase for most businesses in various fields is no longer just to promote products in exchange of money. In order to aim at having more market share in the today’s world, many companies, especially multinational corporations, are going to expand their businesses with more complicated and scientific analyses and researches. Therefore, market strategies are introduced and widely used by today’s companies. However, in order to survive and even better develop their businesses, it is necessary for companies to have a good understanding of their position in the market environment, and the impact of the changing market environment on themselves. Often times, the right marketing strategies are formulated based on the good knowledge of the current marketing environment, and the relative aspects that influence them. According to the concept of Principles and Marketing, a company’s marketing environment refers to the participants and forces out of marketing who influence the marketing management in establishing and maintaining successful relationships with target customers. Marketing environment consists of two factors, one is microenvironment, which includes the actors close to the company who influence the company ability to its customers, such as the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. The other is macroenvironment...
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...Marketing environment Definition The factors or forces which influence on the marketing activities of any product is called marketing environment. Different writers, professors, and scholars have defined marketing environment in different ways. Some important definitions of marketing environment are given below: 1. According to Philip Kotler & Gary Armstrong,” A company’s marketing environment consists of the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers”. 2. According to Holloway & Hancock,” Marketing environment is the some total of all factors and conditions that act on organism or communities of organism including man”. At last from the above definitions, we can conclude that, for marketing any product, the controllable or uncontrollable factors or forces and entities which are helping or creating obstacles are called marketing environment. The marketing environment consists of a microenvironment and a macroenvironment. • Micro Environment: The actors close to the company that affect its ability to serve its customers—the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. The microenvironment includes all the actors close to the company that affect, positively or negatively, its ability to create value for and relationships with its customers. • Macro Environment: The larger societal forces that affect the microenvironment—demographic...
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...Table of Contents 1.0 Executive Summary……………………………………………………………………1 2.0 Introduction/Overview 3.1 Introduction………………………………………………………………........2 3.2 Industry definition……………………………………………………………..3 3.0 Analysing Marketing Opportunities 4.3 Competitors Overview………………………………………………………….5 4.4 Macroenvironment Analysis……………………………………………………5 4.5 Consumer Behavour (DMP)……………………………………………………6 4.0 Selecting Target Market(s) 5.6 Market Segmentation…………………………………………………………...7 5.7 Profile of segment………………………………………………………………8 5.8 Target Market…………………………………………………………………...8 5.9 Proposed Positioning Strategies………………………………………………...9 5.0 Marketing Mix Strategies 6.10 Product………………………………………………………………………….10 6.11 Price……………………………………………………………………………..10 6.12 Place……………………………………………………………………………..10 6.13 Promotion………………………………………………………………………..10 6.0 Conclusion………………………………………………………………………………12 7.0 References…………………………………………………………………………….....13 1.0 EXECUTIVE SUMMARY The following marketing plan forms the basis for introduction of new product and new brand to Malaysian market. The product is Missha Snail Cream from Missha Cosmetic, A South Korea Cosmetic Company. Missha Snail Cream is a skincare product that is effective in healing, soothing and regenerating the skin. The analysis allows us to select the best strategies for this product. Out main aim is penetrating the Malaysian market and become...
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...5. MARKETING ENVIRONMENT Successful fashion icon must have a deep assessment and making decisions or setting goals for future. The fashion company Zara has a marketing environment that is quite unique. So is for Zara, it has macroenvironment and microenvironment that make Zara be a successful fashion icon around the world. MACROENVIRONMENT In macro environment, Zara uses PESTLE analysis for their marketing environment. Zara achieve the targets when they used this analysis. POLITICS Government policies and political parties are responsible for developing political environment. Government is the major factor in business; in form on policies they may support industry. Zara has been in Spain until now and it is one and only a major on Europe. Zara has growth in many countries nowadays; political must be the most important if Zara wants expand their outlets. Zara has options to expand its business in European countries because of their safe and economic circumstance. ECONOMY Zara has been dealing with many issues in economic factor; the currency, taxation rates and so on. The economic condition has been unstable in few years but Zara can handle this problem without doubt. Zara successful in getting market share and has been not affected by recession. Before entering the new markets, the currency rates and the economic condition of that country is evaluated. One of the most stable country is Spain, this because it is a predictable demand in markets. SOCIO-CULTURE Zara...
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...Marketing Examination (A Few Sample Questions) 1.We can safely say that when a customer’s purchase lives up to his or her expectations, the customer is experiencing this state of being. a. customer value b. self-esteem c. self-actualization d. customer satisfaction 2. This group of buyers share a particular need or want that can be satisfied through exchange relationships. a. segment b. target market c. market d. buying group 3. The marketing concept rests on which “four pillars”? a. customer needs, target market, integrated marketing, and profitability b. products, integrated marketing, sales volume, and competition c. customer needs, competition, sales volume, and profit d. product, price, promotion, and place e. customer needs, integrated marketing, profitability, and market focus 4. Which of the following statements best represents the societal marketing concept? f. We have developed a new, more convenient package. g. Target Corporation chooses to eliminate cigarette sales in their stores h. This product saves much more time for the consumer. i. Give the customers what they want. j. Sell at the lowest price. 5. Which is not true about the selling concept? k. It assumes that consumers must be coaxed into buying. l. It always takes into account the greater societal good m. Firms...
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...macro-forces of an industry will be analysed, continuing on to compare the marketing mix of two organisations within that industry. All organisations - with their suppliers, customers, competitors, and publics - have a macroenvironment. This environment consists of macro forces that act on and affect the organisation and are generally outside their control, as opposed to the micro forces which also affect the organisation, but are generally under their control. The marketing mix is the term used to describe how an organisation goes about developing a product and selling it to the market. The industry chosen is soft drinks which industry falls into the category of fast-moving-consumable-goods (FMCG's), as it is a product that is consumed, and is fast-moving. These won't sit in a supermarket or convenient store for long, as they are constantly being purchased. Other examples of a 'FMCG' are canned foods, ice cream, soup, cereal, potato chips and a whole lot more. Part 1 There are six main macro forces making up the "macroenvironment." These are: • The demographic environment - which is the study of human populations in terms of size, density, location, age, sex, race, and occupation 1. Studies in this area, for example, can show the changing age structure, which is necessary, as marketeers need to understand who makes up the market, thus allowing them to make the most effective decisions for the marketing mix. • The economic environment ' which has an effect on consumer...
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