The marketing environment is everything your company must take into consideration when developing and presenting a new product.
Micro-environment[ edit ] Company aspect of micro-environment refers to the internal environment of the company.
This includes all Departmentalization departments such as management, finance, research and development, purchasing, Business operations and accounting. Each of these departments influences marketing decisions.
For example, research and development have input as to the features a The current marketing environment of the can perform and accounting approves the financial side of marketing plans and budget in customer dissatisfaction.
Marketing managers must watch supply availability and other trends dealing with suppliers to ensure that product will be delivered to customers in the time frame required in order to maintain a strong customer relationship. These are the people that help the company promote, sell, and distribute its products to final buyers.
They match the distribution to the customers and include places such as Wal-Mart, Target, and Best Buy. Marketing services agencies are companies that offer services such as conducting marketing research, advertising, and consulting.
|The three components of the marketing environment||The three components of the marketing environment The most appropriate marketing strategy for an organization will depend upon the marketing environment in which it operates. There are three broad categories of the marketing environment, which are:|
Financial intermediaries are institutions such as banks, credit companies and Insurance companies. There are different types of customer markets including consumer markets, business markets, government markets, Globalization international markets, and reseller markets. The consumer market is made up of individuals who buy goods and services for their own personal use or use in their household.
Business markets include those that buy goods and services for use in producing their own products to sell. This is different from the reseller market which includes businesses that purchase goods to resell as is for a profit.
These are the same companies mentioned as market intermediaries. The government market consists of government agencies that buy goods to produce public services or transfer goods to others who need them.
International markets include buyers in other countries and includes customers from the previous categories. To remain competitive a company must consider who their biggest competitors are while considering its own size and position in the industry.
The company should develop a strategic advantage over their competitors. Citizen-action publics include environmental groups and minority groups and can question the actions of a company and put them in the public spotlight.
Macro-environment[ edit ] The macro-environment refers to all forces that are part of the larger society and affect the micro-environment. It includes concepts such as demography, economy, natural forces, technology, politics, and culture. The purpose of analyzing the macro marketing environment is to understand the environment better and to adapt to the social environment and change through the marketing effort of the enterprise to achieve the goal of the enterprise marketing.
Demography refers to studying human populations in terms of size, density, location, age, gender, race, and occupation. An example of demography is classifying groups of people according to the year they were born. These classifications can be referred to as baby boomerswho are born between andgeneration Xwho are born between andand generation Ywho are born between and Each classification has different characteristics and causes they find important.
This can be beneficial to a marketer as they can decide who their product would benefit most and tailor their marketing plan to attract that segment. Demography covers many aspects that are important to marketers including family dynamics, geographic shifts, workforce changes, and levels of diversity in any given area.
Another aspect of the macro-environment is the economic environment. This refers to the purchasing power of potential customers and the ways in which people spend their money.
Within this area are two different economies, subsistence and industrialized. Subsistence economies are based more in agriculture and consume their own industrial output.
Industrial economies have markets that are diverse and carry many different types of goods. Each is important to the marketer because each has a highly different spending pattern as well as different distribution of wealth.
The natural environment is another important factor of the macro-environment. This includes the natural resources that a company uses as inputs that affects their marketing activities. The concern in this area is the increased pollution, shortages of raw materials and increased governmental intervention.
The last concern, government intervention can make it increasingly harder for a company to fulfill their goals as requirements get more stringent. The technological environment is perhaps one of the fastest changing factors in the macro-environment. This includes all developments from antibiotics and surgery to nuclear missiles and chemical weapons to automobiles and credit cards.
As these markets develop it can create new markets and new uses for products. It also requires a company to stay ahead of others and update their own technology as it becomes outdated.
They must stay informed of trends so they can be part of the next big thing, rather than becoming outdated and suffering the consequences financially.The Marketing Environment 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.
Nov 21, · News about Advertising and Marketing, including commentary and archival articles published in The New York Times. The Current Market Environment. Evaluating performance of active equity managers versus market indices since the start of the current bull market (03/01/) or even the start of the last market.
effects on the current market Late in , the U.S. Federal Reserve ceased buying bonds, but at present, it is estimated that the Fed still owns $ trillion worth of bonds.
Environmental. Environmentalism and marketing connect where marketing may affect the environment when serving consumers with products and services.
There is an environmental movement which puts pressure on businesses, governments and everyday people to be green. Marketing services agencies are companies that offer services such as conducting marketing research, advertising, and consulting.
Financial intermediaries are institutions such as banks, credit companies and Insurance companies.  Another aspect of micro-environment is the customer market.