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.
The marketing environment represents a mix between the internal and external forces which surround an organization and have an impact upon it, especially their ability to build and maintain successful relationships with target customers.
The marketing environment consists of the micro and macro environment.
Macro environmental factors include social, economic, political and legal influences, together with demography and technological forces. These are sometimes referred to as the PESTLE factors and are discussed in more detail in PESTLE analysis. The organization cannot control these forces, it can only prepare for changes taking place.
Micro environment refers to the forces closely influencing the company and directly affect the organization’s relationships. The factors include the company and its current employees, its suppliers, marketing intermediaries, competitors, customers and the general public. These forces can sometimes be controlled or influenced and are explained in more detail in Porter’s 5 Forces.
Porter’s 5 Forces model is an excellent tool to analyze the structure of the competitive environment. Two important forces are the bargaining power of customers and the bargaining power of suppliers.
Supplier power is represented by their ability to determine the terms and price of supply and will increase if there are fewer suppliers than buyers, if the organization is not a key customer for the supplier, or if their industry is not attractive for suppliers.
Buyer power refers to the pressure that customers exert on companies to obtain high quality products and services at lower prices. Buyer power increases when there are few buyers and many sellers in the field, or when products are not significantly differentiated and can be easily substituted. For the seller, buyers’ demands represent costs. This means that the stronger the buyer is, the less profit available for the seller, which is why many companies try to develop strategies that reduce the power of buyers.
The PESTLE Analysis is a framework used to scan the organization’s external macro environment. The letters stand for Political, Economic Socio-cultural, Technological, Legal and Environmental.
This presentation is a general introduction/refresher to marketing planning and it will guide you through the planning process and building the plan itself. The presentation starts with an overview of marketing and this part is generally aimed individuals with limited marketing management experience or marketers who want a refresher. The next sections go into the market planning process, marketing communications planning, marketing budgets and forecasts, and the final section covers writing the marketing plan.
The marketing environment represents a mix between the internal and external forces which surround an organization and have an impact upon it, especially their ability to build and maintain successful relationships with target customers.
The marketing environment consists of the micro and macro environment.
Macro environmental factors include social, economic, political and legal influences, together with demography and technological forces. These are sometimes referred to as the PESTLE factors and are discussed in more detail in PESTLE analysis. The organization cannot control these forces, it can only prepare for changes taking place.
Micro environment refers to the forces closely influencing the company and directly affect the organization’s relationships. The factors include the company and its current employees, its suppliers, marketing intermediaries, competitors, customers and the general public. These forces can sometimes be controlled or influenced and are explained in more detail in Porter’s 5 Forces.
Porter’s 5 Forces model is an excellent tool to analyze the structure of the competitive environment. Two important forces are the bargaining power of customers and the bargaining power of suppliers.
Supplier power is represented by their ability to determine the terms and price of supply and will increase if there are fewer suppliers than buyers, if the organization is not a key customer for the supplier, or if their industry is not attractive for suppliers.
Buyer power refers to the pressure that customers exert on companies to obtain high quality products and services at lower prices. Buyer power increases when there are few buyers and many sellers in the field, or when products are not significantly differentiated and can be easily substituted. For the seller, buyers’ demands represent costs. This means that the stronger the buyer is, the less profit available for the seller, which is why many companies try to develop strategies that reduce the power of buyers.
The PESTLE Analysis is a framework used to scan the organization’s external macro environment. The letters stand for Political, Economic Socio-cultural, Technological, Legal and Environmental.
This presentation is a general introduction/refresher to marketing planning and it will guide you through the planning process and building the plan itself. The presentation starts with an overview of marketing and this part is generally aimed individuals with limited marketing management experience or marketers who want a refresher. The next sections go into the market planning process, marketing communications planning, marketing budgets and forecasts, and the final section covers writing the marketing plan.
This is part one of the discourse on the marketing environment.
To better understand this, take a further look at part two of the slides. The marketing environment is an attempt to structure firms in such a way that they can interact with the surrounding even in the illumination of making profits daily!
Unit-I
Marketing:
Definition, general concepts and scope of marketing, distinction between marketing & selling.
Marketing environment. Industry and competitive analysis. Analyzing consumer buying
behaviour and industrial buying behaviour.
Lecture note P M Ch 2 Marketing Environment.pptxetebarkhmichale
Introduction
In life, there are universal laws that govern everything we do. These laws are so perfect that if you were to align yourself with them, you could have so much prosperity that it would be coming out of your ears. This is because God created the universe in the image and likeness of him. It is failure to follow the universal laws that causes one to fail. The laws that were created consisted of the following: ·
Law of Gratitude: The Law of Gratitude states that you must show gratitude for what you have. By having gratitude, you speed your growth and success faster than you normally would. This is because if you appreciate the things you have, even if they are small things, you are open to receiving more.
Law of Attraction: The Law of Attraction states that if you focus your attention on something long enough you will get it. It all starts in the mind. You think of something and when you think of it, you manifest that in your life. This could be a mental picture of a check or actual cash, but you think about it with an image.
Law of Karma: the Law of Karma states that if you go out and do something bad, it will come back to you with something bad. If you do well for others, good things happen to you. The principle here is to know you can create good or bad through your actions. There will always be an effect no matter what.
Law of Love: the Law of Love states that love is more than emotion or feeling; it is energy. It has substance and can be felt. Love is also considered acceptance of oneself or others. This means that no matter what you do in life if you do not approach or leave the situation out of love, it won't work.
Law of Allowing: The Law of Allowing states that for us to get what we want, we must be receptive to it. We can't merely say to the Universe that we want something if we don't allow ourselves to receive it. This will defeat our purpose for wanting it in the first place.
Law of Vibration: the Law of Vibration states that if you wish on something and use your thoughts to visualize it, you are halfway there to get it. To complete the cycle you must use the Law of Vibration to feel part of what you want. Do this and you'll have anything you want in life.
For everything to function properly there has to be structure. Without structure, our world, or universe, would be in utter chaos. Successful people understand universal laws and apply them daily. They may not acknowledge that to you, but they do follow the laws. There is a higher power and this higher power controls the universe and what we get out of it. People who know this, but wish to direct their own lives, follow the reasons. Successful people don't sit around and say "I'll try," they say yes and act on it.
Chapter - 1
The Law of Attraction
The law of attraction is the most powerful force in the universe. If you work against it, it can only bring you pain and misery. Successful people know this but have kept it hidden from the lower class for centuries because th
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2. What is Marketing Environment:
• Marketing Environment concerns the influences or variables of
the external and internal environment of a firm that controls the
marketing management’s capability to construct and preserve
the flourishing relationships with the consumer.
According to Philip Kotler,
“A company’s marketing environment consists of the internal
factors & forces, which affect the company’s ability to develop &
maintain successful transactions & relationships with the
company’s target customers.”
3. Classification of Marketing Environment –
Micro and Macro Environment
• The marketing environment is comprised of the following two
key factors-
Micro-factors inside the firm
Macro-factors linked to economic, social, cultural aspects etc.
4. • Micro-environment elements are close to the firm and
incorporate the suppliers, showcasing delegates,
consumer markets, public, competition and marketing
intermediaries.
• Micro-environment likewise concerns the inward
environment of the organization and influences
marketing as well as all the departments like
management, R&D, finance, Human assets, purchasing,
operations and bookkeeping.
Micro Environment in Marketing:
5. MicroEnvironmentanditsComponents
There are five components associated with the micro
environment of an organization. These components are as
follows.
• The Organization Itself
• Suppliers
• Marketing Intermediaries
• Competitors
• Public
6. The Organization Itself:
• The organization itself is the first micro environmental
component which focuses on the role of the organization that it
performs in the micro environment.
• Broader organizational goals are common for all the
departments of the organization like purchasing
department, Research and Developement department,
production department etc.
• The main focus of all the departments must be the customer
oriented behavior that ensures the delivery of superior value to
customers and this is made possible through the efforts of the
marketing department.
7. Suppliers:
• Suppliers are the second micro environments component, which
are those organizations that deliver the required resources to all
the competing organizations for the production of goods or
services.
• The delivery of superior value to the customers is made
possible through the useful linkage of the suppliers. The
availability of the supplies is permanently watched by the
organization to ensure the smooth working of its operations.
8. Marketing Intermediaries:
• The organizations that assist in promoting, selling & distribution
of products to final customers of specific organization are called
marketing intermediaries and are considered the utmost factors
the micro environments. Marketing intermediaries include the
following:-
1. Resellers
2. Physical Distribution Firms
3. Marketing Service Agencies
4. Financial Intermediaries
5. Customers
6. Consumer Market
7. Business Market
9. Competitors
• Every organization faces the competition with certain
competitors. So the competing organization should develop
such effective strategies that can influentially position its
products in the competing market.
• An organization must understand, what value added services
their competitor is providing or the unique selling point of their
competitors.
• The organization must know how to do a competitive analysis of
competitors and have a competitive advantage.
10. Public
• The last component of micro environment is a public, which
include a group of individuals that can influence the ability of
the organization to accomplish it objectives.
• So the organization should develop an effective marketing plan
for both the public as well as customers.
• Although companies will never sell to each and every people in
a given region, their existence will, however, depend on the
overall perception of these people regarding the brand or
company’s image or the product itself.
11.
12. Macro Environment in Marketing
“The Macro environment is the
uncontrollable factor of the company. For
this reason, it has to structure its policies in
the limits set by these factors. Macro-
environment on the whole deals with the
demographic, economic, technological,
natural, socio-cultural and politico-legal
environment aspects of the markets.”
14. Demography
• An organization ought to study the populace, its
conveyance, age structure, and so forth before
choosing its strategy of marketing.
• Each faction of populace acts in a different way,
relying on a range of factors, for example, age,
status, and so on. If these variables are measured,
a company can manufacture only those products
which suit the necessity of the buyers.
15. Economic Environment
• Economic components are general monetary value, investment
rates, exchange rates, inflation rate, fiscal strategies, balance of
payments and so forth.
• An organization can effectively offer its products just when
individuals have enough cash to spend. The financial
environment influences a customer’s buying behavior either by
expanding his disposable income or by decreasing it.
• For example, During inflation, the money value decreases. Thus,
it is troublesome for them to buy more products. The income of
the customer should likewise be considered.
16. Physical Environment
• These components incorporate the climate, atmosphere,
environmental change, accessibility of water, accessibility of raw
materials and so on.
• A company has to implement its policies contained by the
restrictions set by nature. A man can enhance the nature,
however, can’t find an option for it. Nature offers resources,
however, in a restricted way.
• Companies must discover the best mix of production for the
purpose of productive usage of the accessible assets.
17. Technological Factors
• Technological variables incorporate the innovative work,
robotization, development of web and other communication
innovations, innovation inducements and barriers to
technology. From the consumer’s perspective, change in
innovation implies change in the living standard.
• Each new innovation creates another business & another group
of clients. Another innovation enhances our way of life & in the
meantime creates numerous issues.
• Eg: Invention of different purchaser comforts like washing
machines, blenders, and so forth have brought about
enhancement in our way of lifestyle yet it has made serious
issues like shortage of power.
18. Social & Cultural Factors
• Those actors & forces that affect the basic values, preferences,
perceptions & behaviors of the society are included in the cultural
factor of the macro environment.There are certain cultural
characteristics that influence the decision of the marketers.
• There are certain basic beliefs & perceptions that remain constant
throughout several generations of the society.
• There are certain secondary beliefs that can be altered through the
effective strategies developed by the marketing department of the
organization. These secondary concepts should be identified by the
marketer in order to get advantage through these concepts.