The document discusses the macro environment factors that influence marketing decisions. The macro environment includes demographic, economic, socio-cultural, natural, technological, and political-legal factors. Demographic factors relate to population characteristics that influence demand. Economic factors impact purchasing ability and include income levels, economic conditions, and credit availability. Socio-cultural factors are cultural beliefs and customs that marketing must be sensitive to. Technological factors require marketers to keep up with new technologies and innovations. Political and legal factors consist of government regulations and policies marketers must follow.
The document discusses the marketing environment and its components. It identifies three key elements of the marketing environment: the internal environment, the microenvironment, and the macroenvironment. The internal environment includes internal stakeholders and functional areas. The microenvironment consists of suppliers, customers, competitors, and public groups. The macroenvironment includes large societal forces such as political, economic, technological, cultural factors that shape opportunities and threats beyond a firm's control. Understanding how these environmental factors impact marketing management is essential for effective planning and competition.
The document analyzes the macro environment factors that affect businesses. It discusses the six main factors: demographic forces like population size and age mix; political forces such as government policies; technological forces including new technologies; natural factors like climate and weather; economic forces like income levels and purchasing power; and socio-cultural forces such as cultural values and lifestyles. Understanding how these macro environment factors impact the external remote environment is important for companies to adapt to changes and ensure business success.
There are many factors that affect how marketers market their products to their audiences. In this first infographic of this series, we cover environmental factors such as competition, consumer trends and more.
External factors are beyond the control of a firm and its success depends on its adaptability of the environment. These are a few factors that will impact marketing.
This document provides an overview of macro marketing environment factors. It discusses the key components of the marketing environment including the internal environment, microenvironment, and macroenvironment. The macroenvironment consists of large societal and industry influences outside of a company's control such as political, economic, social, technological, environmental, and demographic factors. These macro factors are important for companies to consider when planning marketing strategies. The document also provides an example of using a PEST analysis to evaluate the macroenvironment and discusses how companies can respond either passively or aggressively to changes in the marketing environment.
The document discusses the micro and macro environment factors that affect businesses.
The micro environment includes internal factors like suppliers, customers, competitors, and publics that are close to the company. The macro environment includes larger societal forces like economic, demographic, technological, political/legal, and natural factors.
It then provides more details on the micro environment factors - suppliers can control business success based on power dynamics; resellers impact marketing success; customers are important to attract and retain; competitors influence pricing and marketing tactics; and the general public impacts public opinion.
The macro environment factors discussed are economic conditions, demographic trends, natural resources, technological advances, political/legal developments, and social/cultural norms that
The document summarizes a presentation on the macro marketing environment. It discusses the key factors in the macro environment including economic, political, cultural, technological, demographic and natural elements. It defines the macro environment as large, uncontrollable forces that influence organizational decision making. Some specific points mentioned include the growing Indian rural population, changing family structures with more nuclear families, the increasing role of women, and laws that regulate business in India. The objectives of understanding the macro environment are also outlined.
The document discusses the macro environment factors that influence marketing decisions. The macro environment includes demographic, economic, socio-cultural, natural, technological, and political-legal factors. Demographic factors relate to population characteristics that influence demand. Economic factors impact purchasing ability and include income levels, economic conditions, and credit availability. Socio-cultural factors are cultural beliefs and customs that marketing must be sensitive to. Technological factors require marketers to keep up with new technologies and innovations. Political and legal factors consist of government regulations and policies marketers must follow.
The document discusses the marketing environment and its components. It identifies three key elements of the marketing environment: the internal environment, the microenvironment, and the macroenvironment. The internal environment includes internal stakeholders and functional areas. The microenvironment consists of suppliers, customers, competitors, and public groups. The macroenvironment includes large societal forces such as political, economic, technological, cultural factors that shape opportunities and threats beyond a firm's control. Understanding how these environmental factors impact marketing management is essential for effective planning and competition.
The document analyzes the macro environment factors that affect businesses. It discusses the six main factors: demographic forces like population size and age mix; political forces such as government policies; technological forces including new technologies; natural factors like climate and weather; economic forces like income levels and purchasing power; and socio-cultural forces such as cultural values and lifestyles. Understanding how these macro environment factors impact the external remote environment is important for companies to adapt to changes and ensure business success.
There are many factors that affect how marketers market their products to their audiences. In this first infographic of this series, we cover environmental factors such as competition, consumer trends and more.
External factors are beyond the control of a firm and its success depends on its adaptability of the environment. These are a few factors that will impact marketing.
This document provides an overview of macro marketing environment factors. It discusses the key components of the marketing environment including the internal environment, microenvironment, and macroenvironment. The macroenvironment consists of large societal and industry influences outside of a company's control such as political, economic, social, technological, environmental, and demographic factors. These macro factors are important for companies to consider when planning marketing strategies. The document also provides an example of using a PEST analysis to evaluate the macroenvironment and discusses how companies can respond either passively or aggressively to changes in the marketing environment.
The document discusses the micro and macro environment factors that affect businesses.
The micro environment includes internal factors like suppliers, customers, competitors, and publics that are close to the company. The macro environment includes larger societal forces like economic, demographic, technological, political/legal, and natural factors.
It then provides more details on the micro environment factors - suppliers can control business success based on power dynamics; resellers impact marketing success; customers are important to attract and retain; competitors influence pricing and marketing tactics; and the general public impacts public opinion.
The macro environment factors discussed are economic conditions, demographic trends, natural resources, technological advances, political/legal developments, and social/cultural norms that
The document summarizes a presentation on the macro marketing environment. It discusses the key factors in the macro environment including economic, political, cultural, technological, demographic and natural elements. It defines the macro environment as large, uncontrollable forces that influence organizational decision making. Some specific points mentioned include the growing Indian rural population, changing family structures with more nuclear families, the increasing role of women, and laws that regulate business in India. The objectives of understanding the macro environment are also outlined.
Marketing Management (micro and macro environment)sly mot
Marketing management require and environment. Micro and macro environment is the core elements where marketers must look into. By failing so, companies will be in trouble.
The marketing environment consists of internal and external factors that affect marketing management's ability to build relationships with customers. The microenvironment includes actors close to the company like suppliers and intermediaries. The macroenvironment comprises larger societal forces like demographic, economic, natural, technological, political, and cultural forces beyond the company's control. Companies must monitor the changing marketing environment and respond to opportunities and threats.
This document discusses the marketing environment and its impact on organizations. It identifies two types of marketing environment - micro and macro. Micro environment includes company, suppliers, marketing intermediaries, customers, competitors, and public. Macro environment includes economic, technological, social/cultural, demographic, political/legal, and natural forces. The document provides examples to illustrate how each of these micro and macro factors can influence organizational marketing and strategy. It emphasizes the importance of monitoring changes in the external environment to help organizations adapt their business opportunities accordingly.
This document discusses the marketing environment and its importance to marketers. It covers the major components of the marketing environment including the social, economic, technological, competitive, demographic, political/legal, and institutional environments. It explains how changes in these environments can create opportunities or threats for marketers and affect specific markets and marketing activities. It provides details on trends in various environments like population growth, largest cities, median ages in countries, economic trends, political trends like free trade and terrorism, and more.
The document discusses the marketing environment and its various components. It defines the marketing environment as factors and forces that affect a firm's ability to build relationships with customers. The marketing environment has two main parts - the microenvironment and macroenvironment.
The microenvironment includes customers, competitors, suppliers, marketing intermediaries, and the public. It directly affects the organization. The macroenvironment includes demographic, economic, technological, political/legal, and sociocultural factors. It indirectly affects the organization. Successful companies continuously monitor and adapt to changes in both the micro and macroenvironment.
The document discusses the marketing environment and its various elements. It defines marketing environment as internal and external factors that affect a firm's marketing strategies. There are three levels of the marketing environment - micro, meso, and macro. It then goes on to explain the key factors under each element of the marketing environment - demographic, economic, socio-cultural, natural, technological, and political. These include factors like population growth, income distribution, social trends, environmental concerns, technological advancements, and government regulations respectively. The document provides details on each of these environmental factors and their impact on marketing.
Environmental monitoring and scanning is crucial for business success. Carefully studying the marketing environment allows companies to adapt their strategies to changing opportunities and challenges. The marketing environment consists of micro and macro forces - the microenvironment includes a company's departments, suppliers, intermediaries, customer markets, competitors, and publics. The larger macroenvironment comprises demographic, economic, natural, technological, political, and cultural forces that shape opportunities and threats.
This document provides an overview of a marketing project submitted by a student named Aftab Manihar for their Bachelor of Management Studies program. The project discusses the key components of a company's marketing environment, including the microenvironment made up of customers, suppliers, competitors, publics, and the company itself. It also examines the macroenvironment which includes broader demographic, economic, technological, political, cultural and natural forces outside a company's control. The document outlines the importance of environmental scanning for a company to monitor changes in these internal and external factors and avoid strategic surprises.
The document discusses the components of a company's marketing environment, including internal and external factors. It covers the micro and macro environment, with the micro environment comprising suppliers, customers, competitors, and public. The macro environment includes demographic, economic, natural/physical, technological, political-legal, and social-cultural forces. Key generations like Baby Boomers, Generation X, and Generation Y are discussed in terms of their demographic and economic impact on marketing. The political and cultural environments are also explored, covering how societal factors like culture, customs, and preferences influence business strategy and consumer decisions.
The document discusses the various internal and external factors that make up a company's marketing environment and how they can influence marketing strategies. It describes the microenvironment which includes factors close to the company like customers, suppliers, competitors. It also describes the macroenvironment which includes broader forces like demographic, economic, technological, political and cultural factors. It emphasizes the importance of environmental scanning and analysis to understand opportunities and threats from the changing marketing environment.
micro economic factors of business environmentar9530
A business is affected by various internal and external factors that can be divided into micro and macro environmental factors. Micro factors include customers, suppliers, competitors, public groups, and market intermediaries that are close to the company and can be controlled by management. Macro factors refer to broader sociopolitical and economic conditions in the country that are beyond any single company's control. A business must understand and adapt to changes in both its micro and macro environments to succeed.
1. The document discusses strategies for analyzing a company's marketing environment, including using an environmental scanning plan to monitor key areas and collect data from various sources.
2. An effective scanning plan determines areas to monitor, how to collect information, who is responsible, and how to analyze trends found in the data.
3. Information collected must be reliable, timely, and used in decision making. Emphasis should be placed on interpreting data rather than just collecting it.
Marketing environment, classification of marketing environment- macro and micro environment, components of marketing environment, marketing intermediaries, competitors, public, factors of macro environment, social and cultural factors.
Micro and Macro Environment Factor of MarketingSagar Garg
The document discusses marketing environmental factors (MEFs) that are external to a company's marketing department but can affect it. MEFs are dynamic and changing MEFs can provide opportunities or threats. There are macro MEFs like demographic, political/legal, economic, social, and technological factors. Micro MEFs that directly impact marketing include the company's other departments, intermediaries like distributors and middlemen, marketing services, public groups, suppliers, customers including consumers and competitors. The marketing department must consider these various MEFs in its planning.
The macro environment consists of six major forces - demographic, economic, natural, technological, political, and cultural - that shape opportunities and threats for companies. These forces include trends in areas like population size and age; consumer spending power; natural resources; technological innovations; political stability; and cultural values. For example, mobile phone companies consider demographic factors like occupation and location when launching new handsets, and pay attention to economic trends that influence consumer purchasing. They must also adapt to developments in areas such as natural environment regulations, new technologies, political instability in markets, and cultural differences between regions.
The document discusses marketing environment and defines it as forces and factors that affect a company's ability to build relationships with customers. It describes the micro and macro environment, with the micro comprising internal and external forces close to the company like suppliers, customers, and competitors. The macro environment includes large societal forces like demographics, economy, culture, technology, politics, and natural environment that indirectly impact the company. The marketing environment analysis identifies threats and opportunities to help organizations make strategic decisions.
The marketing environment consists of internal and external factors that affect a firm's ability to develop transactions and relationships. It includes forces inside and outside the company. The internal environment includes internal stakeholders and functional areas. The external environment includes the microenvironment of suppliers, customers, intermediaries, competitors, and public, as well as the macroenvironment of demographic, economic, natural, technological, political-legal, and socio-cultural factors. Political factors include laws and regulations. Economic factors affect consumer spending and income. Social and cultural forces influence consumer behavior. Technological changes create new markets and opportunities. Natural resources are needed as inputs.
The document discusses the marketing environment and its influence on marketing decisions. It defines the marketing environment as consisting of external factors that affect a company's ability to develop transactions. These factors can be divided into the microenvironment, comprising suppliers, customers, competitors, and other organizations; and the macroenvironment, consisting of broader social, economic, technological, political, and natural forces. It is important for companies to monitor and understand how these environmental factors influence marketing decisions and can present opportunities or threats.
Marketing Management (micro and macro environment)sly mot
Marketing management require and environment. Micro and macro environment is the core elements where marketers must look into. By failing so, companies will be in trouble.
The marketing environment consists of internal and external factors that affect marketing management's ability to build relationships with customers. The microenvironment includes actors close to the company like suppliers and intermediaries. The macroenvironment comprises larger societal forces like demographic, economic, natural, technological, political, and cultural forces beyond the company's control. Companies must monitor the changing marketing environment and respond to opportunities and threats.
This document discusses the marketing environment and its impact on organizations. It identifies two types of marketing environment - micro and macro. Micro environment includes company, suppliers, marketing intermediaries, customers, competitors, and public. Macro environment includes economic, technological, social/cultural, demographic, political/legal, and natural forces. The document provides examples to illustrate how each of these micro and macro factors can influence organizational marketing and strategy. It emphasizes the importance of monitoring changes in the external environment to help organizations adapt their business opportunities accordingly.
This document discusses the marketing environment and its importance to marketers. It covers the major components of the marketing environment including the social, economic, technological, competitive, demographic, political/legal, and institutional environments. It explains how changes in these environments can create opportunities or threats for marketers and affect specific markets and marketing activities. It provides details on trends in various environments like population growth, largest cities, median ages in countries, economic trends, political trends like free trade and terrorism, and more.
The document discusses the marketing environment and its various components. It defines the marketing environment as factors and forces that affect a firm's ability to build relationships with customers. The marketing environment has two main parts - the microenvironment and macroenvironment.
The microenvironment includes customers, competitors, suppliers, marketing intermediaries, and the public. It directly affects the organization. The macroenvironment includes demographic, economic, technological, political/legal, and sociocultural factors. It indirectly affects the organization. Successful companies continuously monitor and adapt to changes in both the micro and macroenvironment.
The document discusses the marketing environment and its various elements. It defines marketing environment as internal and external factors that affect a firm's marketing strategies. There are three levels of the marketing environment - micro, meso, and macro. It then goes on to explain the key factors under each element of the marketing environment - demographic, economic, socio-cultural, natural, technological, and political. These include factors like population growth, income distribution, social trends, environmental concerns, technological advancements, and government regulations respectively. The document provides details on each of these environmental factors and their impact on marketing.
Environmental monitoring and scanning is crucial for business success. Carefully studying the marketing environment allows companies to adapt their strategies to changing opportunities and challenges. The marketing environment consists of micro and macro forces - the microenvironment includes a company's departments, suppliers, intermediaries, customer markets, competitors, and publics. The larger macroenvironment comprises demographic, economic, natural, technological, political, and cultural forces that shape opportunities and threats.
This document provides an overview of a marketing project submitted by a student named Aftab Manihar for their Bachelor of Management Studies program. The project discusses the key components of a company's marketing environment, including the microenvironment made up of customers, suppliers, competitors, publics, and the company itself. It also examines the macroenvironment which includes broader demographic, economic, technological, political, cultural and natural forces outside a company's control. The document outlines the importance of environmental scanning for a company to monitor changes in these internal and external factors and avoid strategic surprises.
The document discusses the components of a company's marketing environment, including internal and external factors. It covers the micro and macro environment, with the micro environment comprising suppliers, customers, competitors, and public. The macro environment includes demographic, economic, natural/physical, technological, political-legal, and social-cultural forces. Key generations like Baby Boomers, Generation X, and Generation Y are discussed in terms of their demographic and economic impact on marketing. The political and cultural environments are also explored, covering how societal factors like culture, customs, and preferences influence business strategy and consumer decisions.
The document discusses the various internal and external factors that make up a company's marketing environment and how they can influence marketing strategies. It describes the microenvironment which includes factors close to the company like customers, suppliers, competitors. It also describes the macroenvironment which includes broader forces like demographic, economic, technological, political and cultural factors. It emphasizes the importance of environmental scanning and analysis to understand opportunities and threats from the changing marketing environment.
micro economic factors of business environmentar9530
A business is affected by various internal and external factors that can be divided into micro and macro environmental factors. Micro factors include customers, suppliers, competitors, public groups, and market intermediaries that are close to the company and can be controlled by management. Macro factors refer to broader sociopolitical and economic conditions in the country that are beyond any single company's control. A business must understand and adapt to changes in both its micro and macro environments to succeed.
1. The document discusses strategies for analyzing a company's marketing environment, including using an environmental scanning plan to monitor key areas and collect data from various sources.
2. An effective scanning plan determines areas to monitor, how to collect information, who is responsible, and how to analyze trends found in the data.
3. Information collected must be reliable, timely, and used in decision making. Emphasis should be placed on interpreting data rather than just collecting it.
Marketing environment, classification of marketing environment- macro and micro environment, components of marketing environment, marketing intermediaries, competitors, public, factors of macro environment, social and cultural factors.
Micro and Macro Environment Factor of MarketingSagar Garg
The document discusses marketing environmental factors (MEFs) that are external to a company's marketing department but can affect it. MEFs are dynamic and changing MEFs can provide opportunities or threats. There are macro MEFs like demographic, political/legal, economic, social, and technological factors. Micro MEFs that directly impact marketing include the company's other departments, intermediaries like distributors and middlemen, marketing services, public groups, suppliers, customers including consumers and competitors. The marketing department must consider these various MEFs in its planning.
The macro environment consists of six major forces - demographic, economic, natural, technological, political, and cultural - that shape opportunities and threats for companies. These forces include trends in areas like population size and age; consumer spending power; natural resources; technological innovations; political stability; and cultural values. For example, mobile phone companies consider demographic factors like occupation and location when launching new handsets, and pay attention to economic trends that influence consumer purchasing. They must also adapt to developments in areas such as natural environment regulations, new technologies, political instability in markets, and cultural differences between regions.
The document discusses marketing environment and defines it as forces and factors that affect a company's ability to build relationships with customers. It describes the micro and macro environment, with the micro comprising internal and external forces close to the company like suppliers, customers, and competitors. The macro environment includes large societal forces like demographics, economy, culture, technology, politics, and natural environment that indirectly impact the company. The marketing environment analysis identifies threats and opportunities to help organizations make strategic decisions.
The marketing environment consists of internal and external factors that affect a firm's ability to develop transactions and relationships. It includes forces inside and outside the company. The internal environment includes internal stakeholders and functional areas. The external environment includes the microenvironment of suppliers, customers, intermediaries, competitors, and public, as well as the macroenvironment of demographic, economic, natural, technological, political-legal, and socio-cultural factors. Political factors include laws and regulations. Economic factors affect consumer spending and income. Social and cultural forces influence consumer behavior. Technological changes create new markets and opportunities. Natural resources are needed as inputs.
The document discusses the marketing environment and its influence on marketing decisions. It defines the marketing environment as consisting of external factors that affect a company's ability to develop transactions. These factors can be divided into the microenvironment, comprising suppliers, customers, competitors, and other organizations; and the macroenvironment, consisting of broader social, economic, technological, political, and natural forces. It is important for companies to monitor and understand how these environmental factors influence marketing decisions and can present opportunities or threats.
IATA Hackathon #NDCHack in Dubai: presentation of ChallengesAurélie Krau
#ChangeIsInTheAir!
Have you heard of NDC (New Distribution Capability)?
It is a new XML-based standard that will bring airline retailing to the next level, in both Leisure & Business Travel sectors.
The standard will enable the travel industry to transform the way air products are retailed to corporations, leisure and business travelers, by addressing the industry’s current distribution limitations: product differentiation and time-to-market, access to full and rich air content and finally, transparent shopping experience.
#NDCHack is a unique experience for coders to develop innovations and pitch their ideas in front of Travel professionals.
28 hours to code!
I am delighted to act as a Mentor and as as a Judge as part of #NDCHack.
Here are the slides of the webinar I presented prior to the hackathon, in order to explain the Challenges, and to provide more background information.
Learn more on http://www.ndchack.com and via #NDCHack on social media!
Aurelie Krau
Associate, Festive Road
www.festive-road.com
Twitter @AurelieKrau
Weekly Mcx Report Update Of 9 june by TheequicomAmita Jain
If you are a Trade in commodity and Stock market then you are at the right place. Join us and Feel the Difference. We provide profitable trading tips to our traders. Join Our Profitable Trading Services.
Watch out our today's mcx report. Join our mcx-commodity services today and also take one day free trial which help you to play risk free trading. Hurry up take advice from reserch analyst who provide all markets up-downs details at right time. Join us today.
Get daily report of mcx in which you get all details of commodity market. We provide the trends and tips of commodity to our traders which help them to earn more money. And our mcx report help our traders to understand the commodity market updates. So join us today
The document is a daily newsletter on commodity markets from TheEquicom. It provides updates on precious metals, energy, and base metals. For gold and silver, prices increased due to retail and investment demand. Brent crude hit a nine-month high due to concerns over supply disruption from Iraq. Copper prices fell on weak global demand. Across commodity markets, the newsletter recommends a strategy of buying on dips within consolidated price ranges.
Philip K. Dick was an American science fiction author born in 1928 in Chicago. He published over 36 novels and 5 short story collections with themes exploring theology, metaphysics, politics and the effects of drug abuse and mental illness. Some of his most famous works include Do Androids Dream of Electric Sheep?, The Man in the High Castle, and Ubik. Though he struggled financially during his lifetime, Dick has since gained widespread posthumous success and influenced many other authors, filmmakers, and artists.
Este documento describe la relación entre el cerebro y la conducta humana. Explica que las emociones producen cambios fisiológicos y de comportamiento que influyen en la memoria y la toma de decisiones. También señala que las neuronas espejo activan tanto cuando observamos una conducta como cuando la realizamos, y que la memoria está relacionada con el estrés.
The document discusses the marketing environment and how it consists of internal and external factors that affect a company's ability to serve its customers. It describes the microenvironment as being close actors like suppliers, marketing intermediaries, customers and competitors. The macro environment includes larger societal forces like demographic, economic, natural, technical, political and cultural factors that influence opportunities and threats beyond a company's control.
WTO & Trade Issues - International Marketing Environment.pptxDiksha Vashisht
International Marketing environment refers to the controllable and uncontrollable forces that influence upon the marketing decision making of a firm globally. International Marketing environment is comprised of those components which shape policies, programmes and strategies of an international marketer.
Using theWaters Bottling CompanyinModule 1, continue t.docxcarissaraleigh8985
Using the
Waters Bottling Company
in
Module 1
, continue to build the
Marketing Plan Sections
for the product you have selected/ invented/ created. Complete the following in MS Word: Be concise but complete in your analysis of each plan element. Your employer wants to know you have left nothing out in your analysis.
This assignment represents Section 2 of the Marketing Plan. Use the Marketing Plan
guide
to identify the sections of the Marketing Plan and the marketing elements contained therein. This assignment will focus on Section 2 – Marketing Research & Target marketing (
Module 2
).
Section 2 – Market Research & Targeting (Module 2)
Market Research
Research Methods & Data Mining
Market Research Process
Consumer Behavior
B2C vs. B2B
Consumer Decision Making Process
Factors Affecting B2C and B2B consumer behavior
Market Segmentation
Market Segmentation Concepts
Segmentation Process
Segmentation Strategies
Target Marketing
Relate all responses using the WBC scenario and the product you have selected to market in
Module 1
.
Create a 4- to 6-page Word document for your Marketing Plan sections. Apply a standard business writing style using the Market Planning Guide sections as your (headers/ sub heads/ bullets) to your work. Be sure to cite your work in the APA format.
The preceeding is the assignment and the following is my marketing plan:
MARKETING PLAN FOR WATERS BOTTLING COMPANY
Introduction
Organizations exist under two main categories namely non-profit organizations and for-profit organizations (Westwood, 2013). Non-profit organizations are founded with the aim to provide services or products to the community without the main agenda of the company as making a profit. Whether the business makes a profit or not, the firm continues to operate. On the other hand, we have corporations that exists with the main aim of making a profit. These companies make a profit by selling services and products to the target market (Ferrell & Hartline, 2014).
Therefore, all the activities that the profit-making companies undertake are aimed at maximizing profit. There are some ways that a business can increase the chances to make more money. For instance, a company might cut the operations costs, production costs, increase prices and do marketing as well. Marketing in this context refers to the process of creating awareness via communication to the target market (Westwood, 2013). Note that this communication is based on the value of the product and the objective of the firm is to sell the product to their target market.
In this study, a company has been founded know as Waters Bottling Company. The company needs a marketing plan that covers their product from the establishing the target market, packaging, and labelling of the mineral water packages. From my perspective, the company requires an extensive marketing plan that will propel the products from processing to making sales. Therefore, the plan needs to cover the marketing mix, environmen.
The document discusses the marketing environment and its importance for business planning and competition. It describes the internal and external environments. The external environment includes the micro and macro environments. The micro environment comprises suppliers, marketing intermediaries, competitors, publics, and customers. The macro environment includes the demographic, economic, socio-cultural, natural, technological, and political-legal environments. Understanding these environments helps businesses identify opportunities and threats and compete more effectively.
This document discusses key concepts in business including business concepts, mission statements, and factors of the business environment. It defines a business concept as an idea that includes the product/service, target demographic, and unique selling proposition. The mission is the organization's core purpose and focus that guides its intended direction. The business environment comprises both external factors like economic conditions, and internal factors like organizational culture that influence a business. It also outlines the importance of understanding the business environment and discusses the economic and non-economic factors.
The document discusses the key components of a company's marketing environment, including the internal environment consisting of factors within a company's control, and the external environment which is further divided into the micro environment of external stakeholders and the macro environment of large societal forces outside a company's control that still impact marketing activities. It provides details on the various factors within the internal, micro, and macro environments and explains how understanding these environments is essential for marketing planning, understanding customers, tapping into trends, identifying threats and opportunities, and understanding competitors.
The document discusses marketing and environmental analysis. It explains that marketing strategy involves matching an organization's capabilities to environmental demands. Firms analyze the environment using frameworks like PEST to understand political, economic, social and technological factors. The environment contains internal aspects controlled by the firm and external macro and micro factors not controlled by the firm but still influencing it. Firms monitor these factors through environmental scanning to identify opportunities and threats to strategy.
The document discusses the PESTLE analysis framework used to analyze a company's external macro environment. PESTLE stands for Political, Economic, Socio-cultural, Technological, Legal, and Environmental factors. It provides examples of each type of factor and questions companies should consider like how political stability or new technologies could impact their industry. Demographic factors that affect target markets like age, income, and location are also discussed.
The document discusses the marketing environment and its impact on business organizations. It explains that marketing activities are influenced by uncontrollable external factors known as the marketing environment. The environment consists of micro and macro elements. The micro environment includes factors directly affecting the company like customers, suppliers, and competitors. The macro environment comprises broader forces like demographics, economics, technology, and culture that impact all businesses. Understanding both the micro and macro environments is important for developing a strategic marketing plan and succeeding in the market.
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3.2 Environmental Analysis
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3.2 Environmental Analysis
Marketing managers are tasked with shaping the elements of the marketing mix to fit the preferences and needs of the target market. This process does not, however, take place in a constant or unchanging environment. The dynamic external environment to which decision makers must respond and adapt comprises two distinct types of variables. Macro-environmental forces are those uncontrollable external variables that impact all firms within an industry. These include demographic shifts, prevailing economic conditions, cultural trends, and changes in the regulatory environment. The PESTEL framework, discussed in the following section, addresses these macro-environmental forces. Micro-environmental forces are external stimuli that selectively and discretely influence each firm uniquely and independently. Though not directly under the control of any single organization, some of these elements of the external environment can be managed and influenced to a significant degree. These micro-environmental forces include the behavior of a company’s suppliers, customers, and channel intermediaries such as independent wholesalers and retailers.
Marketing managers exercise direct control over a limited range of internal resources and decision variables through which they can respond to the threats and opportunities posed by the external environment. Primary among these tools are the marketing mix variables and managers’ discretion to identify segments and select target markets. The success of a marketing plan hinges on the ability to adapt the marketing mix to fit the changing character of both the target market and the larger context provided by macro-environmental forces and trends.
Understanding Forces and Trends: PESTEL Analysis
The process of systematically assessing how elements of the external environment will impact a business or market is termed environmental scanning. Factors of particular concern to marketing managers include those issues and trends that influence the attitudes and behavior of current and prospective target markets. Other points of concern focus on conditions relevant to economies, industries, allied companies (e.g., suppliers), and competitors.
Conducting an environmental scan can incorporate a wide range of information sources and research methodologies such as statistical trend analysis and data mining. However, each variation on the process shares the goal of providing managers with relevant information to improve the quality of marketing decisions. These decisions include choices about new opportunities nested in the strategic alternatives of market penetration, market development, and product development.
Although there are a number of ways to scan the external environment, among those models with the most comprehensive set of external factors is t.
Marketing managers must analyze their organization's environment to develop effective strategies. This involves analyzing both the micro and macro environment. The micro environment comprises suppliers, intermediaries, customers, competitors, and public. The macro environment includes political/legal, economic, social/cultural, technological, demographic, and natural forces. Managers use frameworks like PEST to systematically analyze these external factors. Regular environmental scanning and incorporating findings into planning is crucial due to increasing complexity and pace of change. However, many organizations have poorly developed scanning systems.
This presentation is an effort to discover the role and importance of environmental factors and forces in routine marketing activities internally and externally at micro and macro level.
This document discusses consumer behavior and the factors that influence it. It defines consumer behavior as the study of how consumers purchase and dispose of products. Marketers analyze consumer behavior to understand what influences consumers' decisions and how to best market products to fill needs in the market. The study of consumer behavior helps marketers understand consumers' thinking and feelings towards brands and how the environment and social groups influence choices. Key factors that influence consumer behavior include personal demographics, psychological responses, social influences, marketing campaigns, economic conditions, and personal or group purchasing power. Online marketing allows detailed analysis of consumer behavior through personalized offerings and emerging markets.
The document discusses the Indian business environment and various factors that affect businesses. It defines business and business environment. The macro environment consists of social, technological, economic, political, legal, ecological and other factors that indirectly impact businesses. It provides examples of how changes in these factors, such as new technology or legislation, can influence companies. Environmental scanning is important for businesses to identify opportunities and threats and adapt their strategies accordingly.
The document discusses various internal and external forces that influence local and international business, using PEST and SWOT analyses. It defines the internal environment as including owners, board of directors, employees, culture, and physical work environment. The external environment includes suppliers, distributors, customers, competitors, and factors like political, economic, social, and technological conditions. PEST analysis assesses these broader factors, while SWOT analysis examines internal strengths and weaknesses and external opportunities and threats. Activities guide applying these analytical tools to better understand a business environment.
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Feedback from peersThanks so much for your response. Very welChereCheek752
Feedback from peers
“Thanks so much for your response. Very well done!
I like the competitive forces model and the broad factor analysis which are models that other students have not really discussed.
All of these models can add value. The important thing if the company has the resources in an ideal world is perhaps use both models or multiple models.
If you know anything about research if you do different types of research focused on the same topic and come up with the same answers then you know you've done a good job!”
__________________________
“Great post, I enjoyed reading about the competitive forces model and the broad factors analysis. I agree with you that this is a great tool to use to include the internal and external factors. Politics should certainly be understood before entering into a foreign country and setting up camp. Learning about the macro-environmental factors would indeed need to be known to understand the impact of the environmental surroundings of where you would intend to expand globally (Corporate Finance Institute, 2021).
The competitive forces model is also extremely pertinent as you mention. Knowing the competition and the current market is crucial to the success of the organization. I appreciate that you talk about how difficult entry gives you a competitive advantage. I don't know if I understood that before, but you make a very good point in that regard. So with the difficult entry the contract agreement, is longer and there are better benefits offered? “
__________________________
PEER Discussion post
After reviewing the response of Deborah, I also collaborate with her opinion that there are still more positive ideas that can lead to improvements in the global market planning strategies. The adoption of technology can lead to various promotions in conjunction with the local production at the international business. Different decisions made by the stakeholders are mostly triggered by the level of competition that exists on the organization's premises. Moreover, the present-day global competition entails some aspects which evaluate the market share. On most occasions, several organization strategies, including the multinational rivals, do not differ looking at the approaches, productivity, and experience.
Following the previous meeting with Deborah, I learned various aspects which as a team, we should all bear in mind, and these aspects entail the most suitable approaches concerning the movement in connection with more formal analysis (Harrison, Freitas, Drinnan, Campos, Masci, di Maria & Whitaker, 2019). With the traditional analysis approaches, one can better understand because the visual elements pictorial are always running in one's mind. Although the formal analysis aspect takes much or longer time to express certain information, it provides evaluations and definitions which don't require clerical explanations (Turkmen, den Hartog, Ranise, & Zannone, 2017).
Following the Tiffany and mike suggestion ...
The document provides an overview of the Indian business environment and key factors that affect businesses. It discusses (1) what constitutes a business environment and how it impacts business decisions, strategies, and performance, (2) important macro environmental factors like social, technological, political, legal and regulatory aspects that influence businesses, and (3) various models for analyzing the business environment and formulating business strategies.
The document discusses the various factors that make up a business's environment. It states that a business does not operate in isolation but must interact with and adapt to its surrounding environment. The business environment consists of internal factors within the firm's control as well as external macro-level factors and micro-level factors that the business cannot control but must react to. These include economic, political, social, technological, legal, and demographic conditions that shape business operations and strategies. Adapting proactively to changes in the environment is critical for business success and survival over time.
This document discusses developing competitive marketing strategies and positioning by considering stakeholder perspectives. It defines stakeholders as any group or individual that can affect or is affected by a company's actions, including customers, employees, shareholders, suppliers, and society. The document outlines how understanding stakeholder interests and translating them into effective strategies is challenging for companies. It also discusses different stakeholder impacts, classifications, and how to manage relationships with stakeholders to help achieve marketing goals and competitive positioning.
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Environmental Factors and Variables that Go into Creating a Marketing Plan - Yahoo Voices
1. Environmental Factors and Variables that Go into Creating a
Marketing Plan - Yahoo Voices
A marketing plan is a powerful tool used by businesses who want to get ahead and plan for the
future of their company. If a company is looking to manufacture and sell cellular phones then they
would need a marketing plan to stay above the competition and other varying factors. There are
several variables that go into creating a marketing plan. The main variables are economic,
demographic, technological, political and cultural and they are to be included in the marketing plan.
Successful companies both big and small most often have a marketing plan (Marketing plans, 2013).
It starts out months in advance before being executed, typically. If I were to execute a marketing
plan, I would definitely start out at least a month in advance. Even though some businesses are very
private about their marketing plans for competitive reasons, it is important for every member of the
firm to be able to view details of the marketing plan (Marketing plans, 2013).
Internal and External environmental factors
There are two different types of environmental factors and those are internal and external factors.
The type of factor that a company has control over would be the internal factors, because those
things are happening internally. What are internal environmental factors? They are: management,
finance and accounting, research and development, manufacturing, purchasing, company image,
and brand equity (ebstudies, 2012). The firm is responsible for their own management team as well
as the financing and accounting departments. The research and development takes place within the
firm and with everybody involved with the firm. The manufacturing and purchasing is all a product
of what goes on inside of the firm.
External Factors
Some external factors, factors that the firm doesn't necessarily have control over are the customers,
the government, competitors, and the public. It would be difficult to keep track of each one of those
things when drawing up a marketing plan. With the competition it is likely that they have their own
marketing plan and want to keep that information away from the firm just as the firm wants to keep
the information away from them. The external factors also include the macro and micro environment
2. (ebstudies, 2012). The macro environment factors are very much uncontrollable.
Macro environmental factors
The macro environment factors are the demographics, economics, physical forces, technological
factors, political and legal forces, and social and cultural forces (ebstudies, 2012). Marketers would
be interested to know the demographics of the market that they're in. They can include it into the
plan but have no control over the demographics of the environment. The economic factors relate to
the production and manufacturing and could have an effect on both of those things (ebstudies,
2012). Physical forces refer to natural renewable resources and those things can also affect the
production and manufacturing as well as the availability of such necessary resources (ebstudies,
2012). Technology affects a business because the machinery affects the production and
manufacturing of products and materials (ebstudies, 2012). Marketing decisions, sound marketing
decisions cannot be made without taking into account the political and legal forces in their
environment which greatly shape the decision making (ebstudies, 2012). The social and cultural
forces affect marketing because these forces demand that products be made available and benefit
everybody in society (ebstudies, 2012).
Social and Cultural environmental factors
The most important environmental factors are the social and cultural factors. The social and cultural
factors of the environment help to decide what type of customers there are going to be and the types
of customers that need to be targeted (Linton, 2013). The culture of the customers also shapes their
preference (Linton, 2013). If their preference is shaped by the environment than it would be good
for marketers to look into what those preferences are. Certain cultural groups may prefer distinctive
colors so it is important to remember those colors when it comes to packaging of the products that
customers prefer (Linton, 2013).
Competition
Competition is also another big influence and people might disagree that social and cultural factors
are the most important for that reason. Competition sets the tone for whole environment.
Competitors always want to have that competitive edge over the other firms in the environment. A
marketer must always be aware of the factors that are present in another company that is competing
with them. This way they can adjust their present plan accordingly and gain their competitive edge.
The competition wouldn't matter at all if the competitor was well aware of the cultural and social
factors surrounding them and this company wasn't. It is important for marketers to understand their
target market as well as their preferences. These preferences are based on what the target market
prefers as well as their culture. To better understand the culture of the environment it would be
beneficial to observe what is necessary and what might be needed in the current environment that
people are living. This would be the solution to discovering where the marketing plan should go.
Compromise
Compromises are often feasible when drawing up a marketing plan and both factors could be taken
into consideration when drawing up the marketing plan. To some degree both of the important
outside factors go hand in hand. A competitor could have a vast knowledge of cultural and social
standing of the world around them whereas a marketer within their own firm may not.
3. Ebstudies (2012). Various Environmental Factors Affecting Marketing Function. Retrieved from,
http://ebstudies.wordpress.com/2012/07/19/various-environmental-factors-affecting-marketing-functi
on/
Linton, Ian (2013). Seven Elements Of The Domestic Marketing Environment. Retrieved from,
http://smallbusiness.chron.com/seven-elements-domestic-marketing-environment-33355.html
Marketing Plan (2013). How To Create A Marketing Plan. Retrieved from,
http://www.entrepreneur.com/article/43018