Marketing Environment

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MARKETING ENVIRONMENT
In order to correctly identify opportunities and monitor threats, the company must begin with athorough understanding of the marketing environment in which the firm operates. The marketingenvironment consists of all the actors and forces outside marketing that affect the marketingmanagement’s ability to develop and maintain successful relationships with its target customers.Though these factors and forces may vary depending on the specific company and industrialgroup, they can generally be divided into broad micro environmental and macro environmentalcomponents. For most companies, the micro environmental components are: the company,suppliers, marketing channel firms (intermediaries), customer markets, competitors, and publicswhich combine to make up the company’s value delivery system. The macro environmentalcomponents are thought to be: demographic, economic, natural, technological, political, andcultural forces. The wise marketing manager knows that he or she cannot always affectenvironmental forces. However, smart managers can take a proactive, rather than reactive,approach to the marketing environment.As marketing management collects and processes data on these environments, they must be ever vigilant in their efforts to apply what they learn to developing opportunities and dealing withthreats. Studies have shown that excellent companies not only have a keen sense of customer butan appreciation of the environmental forces swirling around them. By constantly looking at thedynamic changes that are occurring in the aforementioned environments, companies are better prepared to adapt to change, prepare long-range strategy, meet the needs of today’s andtomorrow’s customers, and compete with the intense competition present in the globalmarketplace. All firms are encouraged to adopt an environmental management perspective in thenew millennium.A company’s marketing environment

consists of the actors and forces outside marketing thataffect...
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