Questions : -
1. How marketing environment has made impact over the last 5 years. 2. How the company has responded?
3. How the technological changes had an impact on fashion?
Since all the above questions are interrelated I prefer to discuss in a full package rather than mentioning each of the questions. Because all the questions are related to how the marketing environment has an impact over the last 5 years. A marketing-oriented firm looks outwards to the environment in which it operates, adapting to take advantage of emerging opportunities and to minimize potential threats. Regarding this I will examine the marketing environment over the last 5 years and how companies are responded to the change. Finally we will see the impact of technological changes on fashion in separate way. First let as define what a marketing environment is.
Defining the Marketing Environment
Marketing environment means the actors and forces that affect a firm’s ability to build and maintain successful relationships with customers. Or it includes the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with customers. Three levels of the environment are: Micro (internal) environment - small forces within the company that affect its ability to serve its customers. Meso environment: – the industry in which a company operates and the industry’s market(s). Macro (national) environment: - larger societal forces that affect the microenvironment. Here we will see how each of the above marketing environments had an impact: - Micro-Environment (near environment)
The micro environment refers to the forces that are close to the company and affect its ability to serve its customers. It includes the company itself, its suppliers, marketing intermediaries, customer markets and publics.
The company aspect of microenvironment refers to the internal environment of the company. This includes all The company (Management, finance, research & development, purchasing, manufacturing, accounting, and human resources) Suppliers
Some companies, such as those providing services, dispense with the use of distributors, preferring to deal directly with end-user customers. The others use the services of distributors such as wholesalers and retailers to supply end users. Distributors can reduce the profitability of suppliers by putting pressure on profit margins. For example, in the last 5 years large retailers such as Wal-Mart and Tesco have enormous buying power and can demand low prices from their suppliers.
Marketing intermediaries (resellers, physical distribution firms, marketing service agencies and financial intermediaries): - in the last 5 years in every developed country many companies were shifted from producing to intermediary because to be more competent companies prefer to produce their products in developing countries like Africa. Because in these countries there are abundant natural resource as well low cost labour foce hence they set a cheaper prince which makes them competent in global market. Customers: - (Consumer, business, reseller, government, and international markets) Changing customer tastes, lifestyles, motivations and expectations need to be monitored so that companies supply the appropriate targeted marketing mix strategies that meet their needs. Changes in consumer behaviors also need to be monitored. For example, in the last 5 year consumers start to use social network sites like Twitter and face book to communicate—a fact not lost on marketers. So customers give their comment as well as their demand to the producers more easily and Marketers was seeking out the latest customer needs that currently have not been met. Competitors
The marketing concept states that, to be successful, a company must provide greater customer value and satisfaction than its competitors do. They also must gain strategic advantage by positioning their offerings...
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