The Dynamic Nature Of The Marketing Environment

The collection of non-marketing influences that have an impact on a marketing manager's success in forming and keeping favorable relationships with desirable customers. The overall market environment for a business is made up of the macro environment that consists of broader societal influences and the microenvironment which includes company related influences.

“Marketing communication is an ever changing field. New theories, new techniques, cultural changes and technological advances all combine to create a dynamic environment within which marketers try to ensure that their messages get through to their target audiences” (Blythe, 2006, p.2). Fill (2005) argues that marketing communications is the way in which organisations reach their target audiences or it is an “audience-centred activity” (Fill, 2005, p.9).

Refers to the external factors or forces which affects the ability of the company to externally and internally serve its customers.eg. Demography, economic, cultural, political, competitors, legal & technology. The macro marketing environment takes into account

According to the website Product2Market “micro marketing is a strategy used to target a small segment of consumers with specific needs for products in the market. In micro marketing, all advertising efforts are strongly focused on a small group of highly targeted consumers” (Mello, 2014). Micro marketing is used in businesses to study their customers’ characteristics. By doing this businesses learn how to match their products or services to their customers resulting in a likelihood they will return. The website Wise Geek provides multiple scenarios involving micro and macro marketing. For example, micro marketing can be found in the real estate industry. A realtor who develops a reputation for working with properties within a certain price range can better understand the needs and wants of potential buyers who can afford homes within that price range (Tatum and Harris, 2016). Coming from my personal experience

The marketing environments fall under two catagories. The macro-proximate environment and the macro-widened environment.Micro-widened environment include those factors that can vary from day to day and which the firm has no direct power in changing its fators, such as demographic factors, legal factors, technological factors, political factors and several others. Micro-proximate environment denotes those elements over which the marketing firm has

Marketing environment is in relation to the marketing organization, its internal environment, microenvironment, and macro-environment. In the macro- environment, we identified several forces at play – political, economic, sociocultural, technological and legal (commonly referred to as the PESTL model).

Marketing environment generally consists of a mix among the external and internal forces that mount an organization and has an influence on the company’s ability to successfully maintain relationships with the target customers. Marketing environment mainly comprises of Macro and Micro environment factors. The Macro environment factors of a firm can be analyzed by the economic, legal, technological, social, demographic and political impacts. The Macro environment factors can also be referred as PESTLE Analysis.

The market environment consists of both the macro environment and the micro environment. On macro environment the firm need to follow it and they can’t to control it. It consist variety of external factors that is economic, social, political, legal and technological. In the macro environment the firm should analyze national political issues, culture and climate, key macroeconomic conditions, health and indicators (such as economic growth, inflation, unemployment, etc.), social trends/attitudes, and the nature of technology's impact on its society and the business processes within the society. The microenvironment refers to the internal environment of the company such as consumer/customer, Supplier, competitors, the media (public) and in

The Marketing Concept The marketing concept has evolved over the last years, marketing reflects to a key approach to doing business. An organisations objective is to make profit, to do this they have to consider the marketing concept, in order to satisfy customers. For an organisation to be successful should divert its attention away from particular products and towards the interest of the customers. Customers changing their needs and wants influence an organisations strategies and plans. Meeting customer’s needs is the main key in marketing.

Objective: 1.2: Understand the relationship between consumer behavior and the marketing concept, the societal marketing concept, as well as segmentation, targeting, and positioning

Micro environmental factors create one of two parts of the external environment of a company. Micro environmental factors include suppliers, resellers, customers, competition and the general public (Marketing Environment Definition Factors & Examples, 2016). Market competition has played a tremendous role in Walmart’s success. The idea of selling the same product at a lessor price is what put Walmart on the proverbial map of stores and according to the company’s financials, continues to put them in the number one ranking of retail stores. Walmart is not always the most convenient choice for some especially if it is just one item needing to be purchased but in a general comparison, it is the smartest choice when it comes to saving money. The public has the power and ability to make a

Prior to this class, although I have some experience in a marketing type role, I thought of marketing as the process that was activated post product development and the vehicle to product/service promotion and advertisement to the marketplace. Through this class, I have a greater understanding of marketing, and realize promotion and advertisement is just a fraction of it, and has much more depth. Marketing begins at the beginning, and is integrated through to the end of the life cycle. It has a significant impact on the development stages as well as delivery to the marketplace. Marketing is a set of procedures facilitated in businesses for creating, communicating and delivering value to customers. Furthermore, marketing is about

This essay will discuss the marketing environment as a whole, and will look in detail at certain aspects

The micro environment consists of the actors close to the company that affect its ability to serve its customers.They are the company itself, competitors, publics, suppliers and marketing intermediaries.

…….. TABLE OF CONTENTS: “Marketing is not a task. Marketing is not a department. Marketing is not a job. Marketing happens every time you engage (or not) with your past, present, and potential customers. “ - Scott Stratten CHAPTER 1: Introduction //