Discussing the Issues:
1. Name and describe the elements of the company’s microenvironment and give an example showing why each is important. ( AASCB : Communication)
Company’s microenvironment is the actors close to the company that affect its ability to serve its customers. The elements that have in the microenvironment company’s are the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.
• The company
In designing marketing plans, marketing management takes other company group into account – group such as the top management, finance, research, and development (R&D), purchasing, operation and accounting. Example in the university environment is a student.
Its provide resources needed to product goods and services. It’s also the important link in the ‘value delivery system’. Most marketers treat suppliers as partner.
Example in the university environment is a family that will support the student.
• Marketing intermediaries
Firm that helps the company to promote, sell and distribute its good to final buyers. In the word it’s also known as the resellers. For the physical distribution firms it will help the company to stock and move goods from their points of origin to their destinations. Marketing services agencies are the marketing research firms, advertising agencies, media firm and marketing consultant firm. Financial intermediaries in-clued banks, credit company, insurance company and other business that help finance transactions or insure against the risks associated with buying and selling of goods. Example is Ministry of Education. They will give the guideline to the University for Selection of the student also in the financial.