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The Marketing Environment (Macro Environment - External forces (Ethical…
The Marketing Environment
Macro Environment - External forces
Social
societal changes
work pressure
lack of time
Technological
innnovations
3D printing
Ethical
Increased consumer awareness
Ethical certification
Economic
competitive pricing during economic downturns
products redesigned to suit lower economy countries budgets
Environmental
government legislation
Encouragement of innovation
Political
change in government focus
Brexit
Legal
Changes in legislation / Regulation
Introduction of policies (like GDPR) can provide opportunities
Micro Environment - key stakeholders/ audiences
Stakeholders
Customers
Consumer markets
business markets
reseller markets
government markets
international markets
Marketing intermediaries
wholesalers
distributers
agents, dealers, brokers
Marketing consultants
suppliers
Impacts include
power imbalances
cost increases
disruptions
shortages
competitors
direct competitors
substitutes
new entrants
publics
Financial
Media
Government
citizen-action
local
general
internal
Competitive advantage
Cost Leadership
Cheapest
limits profits
Differentiation
distinguishing products in a way important to consumers
supports higher pricing
Focus
Specialising in a niche market
Competitive positions
Five forces
Threat of new competitors
Threat of substitutes
Bargaining power of customers
Bargaining power of suppliers
Industry rival