1. Discuss the marketing concept/
A concept is the overall idea or structure of something and marketing is how a product is moved through a channel to reach its target consumer. A marketing concept embraces the philosophy that good marketing strategy always has the needs and wants of the target marketin mind. Marketing concepts are formed as creative approaches to the problem of how to get a product needed and desired by a group of consumers to be selected and purchased by this group. The crux of good marketing is being able to communicate the benefits of the products to consumers so that they will choose the product over competitors' offerings. What is the macro marketing environment?
The macro marketing environment takes into account all factors that can influence an organisation, but are outside of their control. There are six major macro marketing environment forces to deal with (PESTLE): political, economic, socio-cultural, technological, legal and environmental. The Macro Environment includes all the factors which are external to the firm and which cannot becontrolled by the organisation. And also they are not specific to any industry but influence all thefirms but the influence may be at different level. As a Marketing manager, on musty have knowledgeof different factors which influences the marketing decision of a firm, And also since they are notcontrollable, one must adjust the decisions as per the changes in the environment.The Important factors comprising the Macro Environment of Marketing are Demographic, Economic,Socio-Cultural, Natural, Technological and Political-Legal. 1. The major external and uncontrollable factors that influence an organization's decision making, and affect its performance and strategies. These factors include the economic factors; demographics; legal, political, and social conditions; technological changes; and natural forces. 2. Specific examples of macro environment influences include competitors, changes in interest rates, changes in cultural tastes, disastrous weather, or government regulations.
Micro Marketing Environment
The micro marketing environment consists of certain forces that are part of an organizations marketing process, but remain external to the organization. This micro marketing environment that surrounds organizations can be complex by nature, however the company has an element of control over how it operates within this environment. Marketing helps you to manage and make sense of this complexity. Micro environment factors are factors close to a business that have a direct impact on its business operations and success. Before deciding corporate strategy businesses should carry out a full analysis of their micro environment.
What Is the Meaning of Competitive Environment?
The competitive environment, also known as the market structure, is the dynamic system in which your business competes. The state of the system as a whole limits the flexibility of your business. World economic conditions, for example, might increase the prices of raw materials, forcing companies that supply your industry to charge more, raising your overhead costs. At the other end of the scale, local events, such as regional labor shortages or natural disasters, also affect the competitive environment. Competitive Environment - that part of the company's external environment which consists of other firms vying for patronage of the same market. The analysis of the competitive environment, or “SWOT', should be worked subsequently. At this time, investigate all public information available about your top competitors, and get a clear understanding of their Strengths and Weaknesses. Creating a competitive environment that helps lower product prices. There are two main categories of competition - macro-competition and micro-competition. Macro-competition is competition at a national or industry level. When someone is talking about something like the U.S. automobile industry being...
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