Marketers need to adapt to this technological changes in the market to deliver that customer value and satisfaction. The political environment consists of the laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society.
The marketer needs to research about every aspect of the environment to create a foolproof plan. Importance of Marketing Environment Every business, no matter how big or small, operates within the marketing environment. The Tesla TRX will be fully electric, enabling Tesla to take advantage of this uncontrollable market trend that is causing the push for more efficient automobiles.
On the other hand, cultural values are also changing as to clothing, shelter and day to day living. These six forces are largely uncontrollable by management. This environment includes the sales department, marketing department, the manufacturing unit, the human resource department, etc.
It consists of individuals, groups, organizations, agencies and others with which the firm deals during the course of its business. Analyzing the marketing environment.
The marketer needs to research about every aspect of the environment to create a foolproof plan. That consumer spend less and less on luxuries, comforts and concentrate as basic necessities of living. In this context market is taken as people or organisation with wants to satisfy, money to spend and the willingness to spend.
This area is one where governments at all levels publish information to help the executives as government is the bulk buyer in case of some common duties and services.
These technologies could offer new opportunities and new markets for companies. Technology is one of the biggest sources of threats and opportunities for the organisation and it is very dynamic.
Sometimes, it is difficult task because of conflicts in goals and executive personalities. That is market demand for a given good or service taken into account three points people organisation with wants purchasing power their buying behaviour.
Governmental relationship with the industries: Marketers need to have a better understanding of these changes to adapt and respond back in order to deliver customer value and satisfaction. They can influence the performance and day to day operations of the company, but for a short term only.
So, marketers should pay attention to the spending patterns of consumers to forecast the future and adapt to these changes.
Micro Environment Factors The suppliers: External Environment The external environment constitutes factors and forces which are external to the business and on which the marketer has little or no control. In case new brand needs a new plant and machinery, it gives rise to its financial culpabilities.
Demographic Environment The demographic environment is made up of the people who constitute the market. The elements of the microenvironment affect directly and regularly to the firm which is just opposite in the case of the macro environment.
During recession, there is a temporary fall in demand as we are facing today where people expect further fall in prices. If girls and boys want jeans, other ever better products will not do.
It has resulted in fast changing lifestyle of women and earning capacity bringing into play health and fitness, impulse buying and conveniences.
The macro environment can also greatly affect consumers directly, affecting their ability and willingness to spend. Competitors are the rivals, which compete with the firm in the market and resources as well.
Social forces stand for social values of life and living. Also, the scarcity of these natural resources will affect the company and their marketing strategy. That is the value of a dollar or a rupee has come down.
Microenvironment is a collection of all the forces that are close to the firm.
This service will allow their patients to email doctors, make appointment online, view test results. Here the marketing executives need not be lawyers but should be aware of the Acts and provisions affecting their area.
They should build a strong relationship with their suppliers to make sure that products are available and be delivered on time. Younger generation component speaks of demand for personality improvement products. The Impact Of Micro and Macro Environment Factors on Marketing There are two kinds of external marketing environments; micro and macro.
These environments’ factors are beyond the control of marketers but they still influence the decisions made when creating a strategic marketing strategy. The Micro – Environment refers to the actors close to the organisation that affect its ability to serve its customers, whilst the Macro – Environment is the larger societal forces that affect the organisation’s whole environment.
According to them MACRO ENVIRONMENT stands for EXTERNAL ENVIRONMENT and MICRO ENVIRONMENT stands for INTERNAL ENVIRONMENT.
To avoid confusion, these can be taken up afresh in brief. In effect it is subdivision of EXTERNAL ENVIRONMENT into MACRO and MICRO.
INFLUENCE OF MACRO-ENVIRONMENTAL FACTORS TO THE PROCESS Micro- as well as macro-economic factors influence the economic activities of such complex company networks. The influencing specific environment, competitive situation, customer structure, dynamic of technology.
Apr 26, · Marketing micro environment includes Corporate environment, Suppliers, Providers, Target market characteristics, Competitors, Public Relations/5(6). These outside forces can influence organizational decision-making (Kotler & Armstrong, ). A company’s demographic environment consists of people in terms of age, race, gender, occupation, location, income, education, etc.Kotler micro anmd macro environment