Marketing: Chapter Summary

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Summary chapter 3
The marketing environment is made up of a microenvironment and a macroenvironment.

Micro environment
Marketing management their job is to build strong relationships with customers by creating customer value and satisfaction. But marketing managers cannot do this alone. Marketing success will require building relationships with other company departments, suppliers , marketing intermediaries , customers , competitors and various publics.

The company
Marketing managers must work closely with other company departments. Other departments have an impact on the marketing departments plans and actions. All of these functions must “think consumer”.

Suppliers form an important link in the company’s overall customer value delivery system. They provide the resources needed by the company to produce its goods and services. Supplier problems can seriously affect marketing. Rising supply costs may force price increases that can harm the company’s sales volume. Marketers build strong relationships with its suppliers. Marketing intermediaries

Marketing intermediaries help the company to promote , sell and distribute its products to final buyers. Includes resellers , physical distribution firms , marketing services agencies and financial intermediaries. * Resellers : distribution channel firms that help the company find customers or make sales for them. These include wholesalers and retailers who buy and resell merchandise. * Physical distribution firms : Help the company to stock and move goods from their points of origin to their destinations. * Marketing services agencies : Marketing research firms , advertising agencies , media firms , and marketing consulting firms. * Financial intermediaries : Banks , credit companies , insurance companies and other financial institutions or insurance institutions against the risks associated with the buying and selling of goods. Today’s marketers know the importance of working with their intermediaries as partners. Competitors

A company must provide greater customer value and satisfaction than its competitors do. Marketers need to do more than simply adapt to the needs of their customers. You need a strategy as a firm. Publics

Public is any group that has an actual or potential interest in or impact on an organization’s ability to achieve its objectives. There are seven types of publics

1) Financial publics : This group influences the company’s ability to obtain funds 2) Media publics : This group carries news , features and editorial opinion. 3) Government publics : Management must take government developments into account. (Product safety , truth in advertising and other matters) 4) Citizen-action public : A company’s marketing decisions may be questioned by consumer organizations , environmental groups , minority groups and others. PR can help to stay in touch with consumers and citizen groups 5) Local publics : Relation with neighborhood residents and community organizations. 6) General public : The general public and their opinions and the company and their products 7) Internal publics : Workers , managers , volunteers and the board of directors. Customers

Customers are the most important actors in the company’s micro environment. The main point is to serve the consumer and make them your customer. 1) Consumer market : Households and individuals
2) Business market :buy goods or services for further processing. 3) reseller markets : Buy goods or services to resell it at a profit 4) Government markets : Buy goods or services to produce publics services or transfer the goods to those who need them. 5) International markets : Buyers in other countries could be consumers , business , resellers and governments.

Macro environment
External factors that may be a threat to a company. There are 6 macro environmental elements:

Demography is the study of human populations in terms of size , density , location ,...
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