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Changes in Environement

Changes in Environement. "The rapid expansion of the Internet economy is forcing Companies to completely rethink how they connect with partners, suppliers, and customers in a dynamic supply chain,” General Motor’s case. CAMBRIDGE, Mass. (BUSINESS WIRE) - Forrester Research,

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Changes in Environement

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  1. Changes in Environement • "The rapid expansion of the Internet economy is forcing Companies to completely rethink how they connect with partners, suppliers, and customers in a dynamic supply chain,” • General Motor’s case CAMBRIDGE, Mass. (BUSINESS WIRE) - Forrester Research, In ASDAQ:FORR),

  2. Understanding Marketing Environment • TO understand the environment within which marketing decision are made • To make business and marketing decision • The significance of environmental factors to the marketing is: • When the marketing environment changes, thus companies face uncertainty, threats and opportunities.E.g. Retailer and consumer goods producers - particularly sensitive to environmental factors

  3. Marketing Environment • A set of forces which either directly or indirectly influences a business acquisitions of inputs or generations of outputs • The actions and forces that affect the company’s ability to develop and maintain successful transactions and relationships with its target customers. (kotler) • The marketing environment consists of controllable factors, uncontrollable factors, organisational performance, feedback and adaptation • The ‘non-controllable’ actors and forces impact on the company’s market and marketing practice.

  4. Marketing Environment • Micro Environment • Aspects which are close to the individual business and over the business has some control • Controllable and factors that effect its ability to serve its customers (company, market channel firms, customer markets, competitors and publics) • Controllable: • Consists of factors that are directed by Top Management • Broad and fundamental decisions • Consists of factors that are directed by Marketing • Specific decisions based on the guidelines

  5. Marketing Environment (Cont.) • Macro Environment (Uncontrollable) • Wider marketing environment, beyond the control • Consisting of those elements which are external to the business and have a broader effect on it. • Have an impact on how well an organisation and its offerings are accepted.

  6. Controllable Factors • The company’s internal environment • Line of Business • Overall Objectives • Role of Marketing • Role of Other Functions (Value Chain) • Corporate Culture • Selection of target market • Marketing Objectives • Marketing Organisation • Marketing Mix • Control

  7. Uncontrollable Factors • Micro Environment • Suppliers • Intermediaries • Competitors • Publics & Consumers • Macro Environment • Government, Legal & Regulations • Economy • Technology • Social • Independent Media • Nature

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