Please enable JavaScript.
Coggle requires JavaScript to display documents.
Topic 2 Marketing Environment - Coggle Diagram
Topic 2 Marketing Environment
Macro environment
6 component:demographic,economic,natural,technological,political and cultural environments
whole economy
refers to the general environment,that can affect the working of all business enterprises
operate in a larger macro environment of forces that shape opportunities and pose threats to the company
Demographic environment
the study of human population in context of size,density,age,location,gender,race,occupation and other statistics
the marketers have special interest in the demographic environment because it consists of people and people are the driving force for development of markets
Economic Environment
factors that can affect consumer purchasing power as well as the spending patterns
important economic criteria includes GDP,GNI,import duty rate,unemployment,inflation,spending patterns as well as the disposable personal income
Natural Environment
refers to the natural resources or physical environment that are required as inputs by marketers or which is affected by the marketing activities
Example : air and water,pollution,floods,droughts,etc.
Technological Environment
an organization needs to perform a thorough research on the spread and use of technology,before investing in any of marketing activities
the company needs to understand of the technology penetration as well as user interface technology in the region and make plans accordingly for their communication and campaigns
Cultural Environment
factors which affects the basic values,preference,perceptions,and behavior of the society
organizations needs to understand the cultural beliefs and making practices prevalent in society for marketing decision making
failure of companies in understanding foreign cultures can lead to many cultural blunders
Example :a symbol having a positive meaning in one culture can have a negative meaning in some other culture
Micro environment
6 component:company,suppliers,marketing intermediaries,competitors,general public and the customers
defined as the nearby environment,under which the firm operates
refers to the environment which is in direct contact with company and affects the routine activities of business straight away
it is a collection of forces or factors that are close to the organization
to build relationship with customers by creating customer value and satisfaction
small segments
The Company
various group in an organization like the top management,finance,operations,human resourcing,research and development (R&D),accounting etc needs to be taken into account by the marketing management for designing the marketing plans
marketing managers needs to work closely with them as that will help them to make decisions with broader strategies and plans
with marketing team taking lead,other departments like manufacturing,finance,legal and human resources teams takes the responsibility to understands customer needs as well as creating customer value
Suppliers
important part of an organization's overall customer value delivery network
provide inputs to business like raw materials,parts,cutting tools,equipments etc
the quality and reliability of vendors are very essential for smooth functioning of business of any organization
any shortage or delays of supplies,in terms of natural disasters or other events can cause damage to sales in short run and lead to customer dissatisfaction in the long run
Marketing Intermediaries
important component for company's overall value delivery network
those individuals or firms who help the company in promotion,sales,and distribution of its goods to the final buyers
middlemen(agents or merchants)who help the company find customers,physical distribution firms such as warehouses om transportation firms that help the company in stocking and moving goods from their origin to the destination
Competitors
a company needs to provide greater customer value and satisfaction that its competitors,in order to be successful
attain strategic advantage against the competitors by positioning their products strongly in the market
General Public
the group of people who have an actual or potential interest in company's product or who can have an impact on the organizations ability to achieve its objecctive
seven types of publics identified in a company's marketing environment which includes financial publics,media publics,local publics and general public
Customers
the whole of value delivery network aims to engage the target customers and create strong relationships with them
five types of customer markets that companies might try to target include consumer markets,business markets,government markets,reseller markets,and the international markets