The market environment is a marketing term and refers to all of the forces outside of marketing that affect marketing management’s ability to build and maintain successful relationships with target customers. The market environment consists of both the macro environment and the micro environment Demographic factors Study of human population in terms of size‚ density‚ location‚ age gender‚ race‚ occupation‚ other stats India’s demographic report findings * Estimated 1.1 billion people live in
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microenvironment heavily influence marketing decisions.Using the case study illustrade this. The term micro-environment denotes those elements over which the marketing firm has control or which it can use in order to gain information that will better help it in its marketing operations. In other words‚ these are elements that can be manipulated‚ or used to glean information‚ in order to provide fuller satisfaction to the company’s customers. The objective of marketing philosophy is to make profits through
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The Indian Marketing Environment At the end of this module the learning outcomes are:- 1) What are the various components of the marketing environment? 2) How the Indian marketing environment is changing as times change? 3) How are the new economic policies impacting the marketing environment? 4) What are the marketing challenges in the new environment. We have said Marketing is the delivery of a total offer to the consumer in such a manner that. a) The offer
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The wider macro-environment Changes in the wider macro-environment may not be as close to the marketing firm’s day-to-day operations‚ but they are just as important. The main factors making up these wider macro-environmental forces fall into four groups. Political and legal factors Economic factors Social and cultural factors Technological factors (Often referred to as the ‘PEST’ factors in the marketing analytical context‚ a useful aide-memoire‚ although in some texts it is sometimes referred
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International Marketing Environment Alfredo Carmona Prof. Simone Farrar Marketing 320 February 3‚ 20 In today’s fierce market it is important for corporations to go global. This isn’t an easy task as it takes a lot of careful planning and research in order to be successful at an international level. The competition can come from local companies to others looking to also expand into worldwide markets. This is why it is so important for a company to analyze this new market and familiarize themselves
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Marketing and the competitive environment Effective marketing Marketing: identifying and meeting customer needs. Market: anyone willing and with the financial ability to buy a product or service. There are 2 main strands to successful marketing: Identifying customer needs. Meeting customer needs. Niche marketing: meeting the needs of a relatively small number of potential customers. Advantages Disadvantages Ability to focus on the needs of individual customers and respond quickly to changes
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Interaction of micro elements The interaction between 5 competitive forces‚ create environment for Apple very competitive and hard to survive. Low entry barrier‚ rapid innovation of supplier and changing demand of consumer create the product life-cycle shorten. A lot of competitors with very similar product specification let product easy to imitate and alter PC become near to commodity product. Thus this leads to low market share industry. In addition‚ strong power of suppliers‚ a lot of competitors
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Chapter 5: Scanning Marketing Environment Analyzing needs and trends in the Macroenviroment Trends ▫ is a directional or sequence of events that some have momentum and durability. ▫ Has longevity‚ is observable across several market areas and consumer activities and is consistent with other significant indicators occurring or emerging at the same time(Faith Popcorn) Faith Popcorn points to 16 Trends in the Economy 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Anchoring Being Alive Cashing Out Clanning
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Global Marketing Environment and Its Effect On Marketing In this paper‚ I briefly analyzed global marketing environment and its effect on global marketing. There are 6 components of the global marketing environment: (1) Economic Environment‚ (2) Social Environment‚ (3) Technical Environment‚ (4) Institutional Environment‚ (5) Legal‚ Political Environment‚ and (6) Competitive Environment (Corner‚ n.d.) The changes of these components affect the market directly and create opportunities or threats
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Summary The Vodafone case study has given us a good overall view of the company and shown the companies good and bad points‚ whilst showing the mobile phone business as a whole and explaining the ups and downs of the industry. The SWOT analysis included in the appendix helps us see the situation of Vodafone and describes the strengths‚ weaknesses‚ opportunities and threats. This is an aid when looking at the internal and external aspects of the company. Although Vodafone are the biggest
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