American Intercontinental University
Unit 1 Individual Project
MKT255 – Fundamentals of Marketing
In any market there will be outside factors that will impact the success or failure of a product. These forces are a combination of the suppliers, competitors, publics as well as demographics, economic, cultural and technological forces to name a few. Companies must be able to find a balance between all these forces to be able to successfully sell their intended product.
Marketing Environment Forces
When it comes down to a company who is selling a product to a customer it depends on the relationships that the company has made and maintain to be able to present a valuable product that the consumer will take home with them. Not only does a company have to look at the consumer and what the consumer is looking to buy and the price that purchase will happen at, they also have to find the right intermediaries that will produce, transport and sell that product for them. This paper will discuss the outside forces that marketers must take into consideration when presenting a product. There are two marketing environments that marketers must deal with when trying to reach a customer. Those environments are microenvironment and macroenvironment. Microenvironment is everyone and everything that surrounds the company and either helps or hinders the company’s ability to serve its intended customer (Armstrong & Kotler, 2009, Pg. 65). This environment is made up of suppliers that provide the materials to make the bulletproof vests all the way to the competitors and the products that they are selling. The next environment is the macroenvironment which includes the demographics of an area; age, ethnicity, population, financial classes be it upper, middle or lower, all the way to the economic standing of the customer’s community; is it in a recession or not? Marketers need to determine which forces, out of all the ones present in the two...