MARKETING ENVIRONMENT Introduction Marketing does not occur in a vacuum. The marketing environment consists of external forces that directly and/or indirectly impact the organization. Changes in the environment create opportunities and threats for the organizations. Definition: ▪ A company’s marketing environment consists of the actors and forces outside marketing that affect the marketing management’s ability to develop and maintain successful relationship with its target markets
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steady decrease in sales over the past five (5) years. Appointed as the Strategic Marketing Manager‚ the main objective is to propose an alternative approach to achieving the company’s goals and objectives. FINDINGS: 2.1 Show the macro and micro environmental factors which influence marketing decisions. Marketing Environment The marketing environment consists of all the factors of a market which impact a marketing management’s decision when producing products as well as developing and maintaining
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Marketing Environment Marketing environment defined as ‘those condition and influences impingeing or potentially impingeing on marketing’ or anything that has an impact on what marketers do. Why pay attention? The world is changing constantly‚ if marketers don’t understand changes‚ they may be threatened. By consistently monitoring the environment‚ marketers can plan effectively and plan. There organisation ready to face change. Other definition; Actors and forces outside of marketing that
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Understanding the External Marketing Environment INTRODUCTION “All businesses operate within an environment‚ which directly or indirectly affects the way in which they function‚ just as we as consumers live within a cultural and social environment which to a greater or lesser degree determines the way in which we behave as individuals.” said Elaine O’Brien‚ University of Strathclyde. Unlike the controllable marketing mix variables‚ the environmental forces are not controllable by marketers
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The Marketing Environment Environmental Variables There are two categories of variables in the marketing environment that shall shape all aspects of a company’s strategic plans: 1. Macro environmental category includes: demographic; economic; social-cultural; competitive; political-legal; and technology variables. 2. Microenvironmental category includes: the company itself; customer served by the company; suppliers; distributors; market intermediaries that assist in making and marketing
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External Analysis of Nestle: Nestle in the Global Environment: Nestle operates in over 130 countries and in order to understand the business environment they operate in analysis on the external factors that lie outside the control of Nestle has to be conducted (Grant et al. 2011‚ 101). The tool tasked with conducting an external analysis of the macro environment is PEST while the external micro environment will be analysed with the help of Porter’s Five Forces. However it is worth mentioning that
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The Marketing Environment The environment forces that affect the company’s ability to serve its customers 1. External Environment 2. Internal Environment External Environment Macro Environment: consist of larger societal forces that affect the entire microenvironment. The six forces making up the company’s microenvironment Demographic Economic Natural Technological Political Cultural Forces Demographic is the study of the characteristics of human populations.
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Discussion ………………………………………………………………………………………… 4 Conclusion ………………………………………………………………………………………. 10 Appendix ………………………………………………………………………………………... 12 Bibliography …………………………………………………………………………………… 14 SUMMARY This report explores how macro-environment forces can influence the strategic management of XX Organisation Holdings‚ a leading Singapore multiplex cinema operator. Three key forces and their potential impact on XX’s operations over the next decade will be discussed and from future trends
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Introduction We are going to make a marketing plan examines the launch MHS-FS3 3D Bloggie Sony HD Camera into Vietnam. Sony Bloggie 3D MHS-FS3 camera is revealed in exhibition CES 2011 in Las Vegas. The Sony Bloggie 3D HD camera includes unique features that break through the cluttered category while still offering simple high quality MP4 video and still photo shooting‚ as well as easy web sharing capabilities. The line of portable devices‚ anchored by the recently launched Sony Bloggie
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Macro-environment factor In reflecting the macro environment‚ the economic environment is one of the identified elements that affect the microenvironment of hybrid cars. For the past years‚ prices of petroleum in Malaysia have risen due to inflation (thestar‚ 2014). Oil scarcity is one of the main external aspects that affect the rise in oil prices. High petrol prices have reduced the consumer purchasing power and spending pattern for gasoline cars since it’s more fuel consuming compared to
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