Marketing Environment Essay

The Marketing Environment Learning Objectives 1. let on the environmental forces that modify the companys ability to serve its nodes. 2. rationalize how changes in the demographic and economic environments affect selling decisions. 3. Identify the major(ip) trends in the firms natural and technological environments. 4. Explain the recognise changes in the political and cultural environments. 5.Discuss how companies can react to the marketing environment. Chapter Overview In order to correctly identify opportunities and monitor threats, the company must(prenominal) begin with a thorough understanding of the marketing environment in which the firm operates. The marketing environment consists of all the factors and forces outside marketing that affect the marketing managements ability to develop and maintain undefeated relationships with its target customers.Though these factors and forces may vary depending on the limited company and industrial group, they can generally be div ided into large-minded microenvironmental and macroenvironmental components. For most companies, the microenvironmental components are the company, suppliers, marketing channel firms (intermediaries), customer markets, competitors, and publics. The macroenvironmental components are idea to be demographic, economic, natural, technological, political, and cultural forces.The wise marketing manager knows that he or she cannot always affect environmental forces. Smart managers can take a proactive, rather than reactive, approach to the marketing environment. As a companys marketing management collects and processes data on these environ-ments, it must be perpetually vigilant in its efforts to apply what it learns to developing opportunities and dealing with threats. Studies have shown that clarified companies not only have a keen sense of customer but an appreciation of the environmental forces swirling around them.By constantly looking at at the dynamic changes that are occurring in the aforementioned environments, companies are break in prepared to adapt to change, prepare long-range strategy, meet the needs of immediatelys and tomorrows customers, and compete with the intense competition testify in the global marketplace. Chapter Outline 1. The Companys Microenvironment The Company a. In designing marketing plans, marketing management takes another(prenominal) company groups into account. These interrelated groups form the internal environment. b. Marketing managers must work closely with other company departments.Suppliers c. Suppliers form an important link in the companys overall customer value delivery system. d. Marketing managers must fall out supply availability. They also monitor the price trends of their key inputs. e. Most marketers straightaway treat their suppliers as partners in creating and delivering customer value. Marketing Intermediaries f. Marketing intermediaries stand by the company to promote, sell, and distribute its goods to final buyers. i. Resellers are distribution channel firms that avail the company find customers or make sales to them. ii.