BATASAN SATELLITE CAMPUS
IBP Road, Batasan Hills, Quezon City
Date: February 4, 2013
THE PHILIPPINE MARKETING ENVIRONMENT
Alba, Alyanna Marie
Delos Santos, Ferdinand
We all know that the modern economy has affected the marketing practices and philosophies. The study of marketing must continue in understanding the marketing opportunities. We will discover that marketing is not enclosed in a box but rather belong into a complex and dynamic changing environment. The Philippine economy grows fast and changes in almost all areas including communication, banking, geography, agriculture, transportation, exports and many other things. This is due to the fact that Filipinos are eager to adopt innovation and development. Therefore, the company must always consider the thorough analysis and understanding of the marketing environment when for us to clearly identify the threats and opportunities. Those are the external forces that might affect the entire management. We must be aware about the dimensions of markets, the factors affecting consumption and relationship with customers. As marketing management collects and processes data on these environments, it must be ever vigilant in their efforts to apply what they learn to developing opportunities and dealing with threats. By constantly looking at the dynamic changes that are occurring in environments, companies are better prepared to adopt to change, prepare long range strategy, meet the needs of today’s and tomorrow’s customers, and complete with the intense competition present in the global marketplace. Marketing environments are continuously changing and businesses operating in such turbulent environments need to be flexible. Globalisation and lower barriers to entry now mean that there is an even greater threat of substitute products and new entrants to market.
Today, many companies are taking an environment management perspective, whereby a firm takes aggressive actions to affect the publics and forces in the marketing environment. Whenever possible, smart managers will take a proactive rather than a reactive approach to the marketing environment.
Encompasses the marketing team within an organization and includes all of the outside factors of marketing that affect the team’s ability to develop and maintain successful customer relationships with their targeted customer group.
The marketing environment surrounds and impacts upon the organization. There are three key elements to the marketing environment which are the internal environment, the microenvironment and the macroenvironment. Why are they important? Well marketers build both internal and external relationships. Marketers aim to deliver value to satisfied customers, so we need to assess and evaluate our internal business/corporate environment and our external environment which is subdivided into micro and macro.
Market- A market is one of many varieties of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labor) in exchange for money from buyers. It can be said that a market is the process by which the prices of goods and services are established. Microenvironment
The microenvironment is made from individuals and organizations that are close to the company and directly impact the customer experience. Examples would include the company itself, its suppliers, other marketing input from agencies, the markets and segments in which your business trades, your competition and also those around you (which public relations would call publics) who are not paying customers but...