Assignment 2
The Future of the New York Times
Edward Walls
BUS 620 Managerial Marketing
Prof. Dr. Susan Sasiadek
September 16, 2013
Finch, (2000 )shared that the success of any marketing plan centers on the capability of the marketing managers’ skill to adjust the marketing mix to appropriate the constant character changing of both the bull’s eye target market and the larger environment provided by macro-environmental forces and trends.
The marketing managers’ main focus is to shape the component of the marketing mix to appropriate the likings and wishes of the bull 's eye market. The active external environment to which marketing managers may need to immediately react and adjust to depend on on two important variables. Macro-environmental forces, those uncontrollable external variables that effect all businesses in an industry are referred to as demographic shifts, prevailing economic conditions, cultural trends, and changes in the bull’s eye market and, Micro-environmental forces the external motivations that selectively and discretely influence each business uniquely and independently Finch, (2000). According to Finch, (2000) these important variables are not directly under the control of any single business, some of the components of the external environment a business can be managed and influenced to a substantial amount. Finch, (2000) state “These micro-environmental forces include the behavior of a company’s suppliers, customers, and channel intermediaries such as independent wholesalers and retailers.”
Environmental analysis is important for developing a sustainable competitive advantage; identifying opportunities and threats; and providing opportunities for productive co-operation with other companies. A review of the literature reveals that different approaches and techniques were used for the analysis of macro environment (Lynch, 2009).
The procedure of thoroughly evaluating how elements of the external environment will effect a business or market is
Edward Walls
BUS 620 Managerial Marketing
Prof. Dr. Susan Sasiadek
September 16, 2013
Finch, (2000 )shared that the success of any marketing plan centers on the capability of the marketing managers’ skill to adjust the marketing mix to appropriate the constant character changing of both the bull’s eye target market and the larger environment provided by macro-environmental forces and trends.
The marketing managers’ main focus is to shape the component of the marketing mix to appropriate the likings and wishes of the bull 's eye market. The active external environment to which marketing managers may need to immediately react and adjust to depend on on two important variables. Macro-environmental forces, those uncontrollable external variables that effect all businesses in an industry are referred to as demographic shifts, prevailing economic conditions, cultural trends, and changes in the bull’s eye market and, Micro-environmental forces the external motivations that selectively and discretely influence each business uniquely and independently Finch, (2000). According to Finch, (2000) these important variables are not directly under the control of any single business, some of the components of the external environment a business can be managed and influenced to a substantial amount. Finch, (2000) state “These micro-environmental forces include the behavior of a company’s suppliers, customers, and channel intermediaries such as independent wholesalers and retailers.”
Environmental analysis is important for developing a sustainable competitive advantage; identifying opportunities and threats; and providing opportunities for productive co-operation with other companies. A review of the literature reveals that different approaches and techniques were used for the analysis of macro environment (Lynch, 2009).
The procedure of thoroughly evaluating how elements of the external environment will effect a business or market is
References: Lynch, R. (2009). Strategic management. England: Pearson Education Limited. Rothenberg, S., & Ettlie, J. E. (2011). Strategies to Cope with Regulatory Uncertainty in the Auto Industry. California Management Review, 54(1), 126-144. Yüksel, I. (2012). Developing a multi-criteria decision making model for PESTEL analysis. International Journal of Business and Management, 7(24), 52-66. Retrieved from http://search.proquest.com/docview/1327873432?accountid=32521