Question 2:
Explain the different Marketing Environments and the role of Culture and Subculture.
Answer 2:
The marketing environment signifies a mix between the internal and external forces which surround an organization and have an effect upon it, especially their aptitude to build and maintain successful relationships with target customers. The trading forces in a market place over which a business has no direct control, but which shape the manner in which the business function and is able to gratify its customers . It is important, in order to understand the influences of external environment forces, to appreciate that, although the marketing function is the channel through which the firm adapts to change in external conditions, marketing’s …show more content…
Internal amenities and actions are those that affect the marketing operation composed of internal investors and the other functional areas within the business organization, i.e., the intra –firm environment, and are largely within the control of the firm. They are generally audited by applying “Five M’s” which are Men, Currency, Equipment, Resources and Markets. The Internal Environment is as important for managing change as the External Environments. The company aspect of micro-environment refers to the internal environment of the company. This contains altogether departments, such as management, finance, research and development, purchasing, operations and accounting. Each of these departments has a control on marketing …show more content…
Nearly every firm, whether engaged in manufacturing, wholesaling or retailing, is likely to have suppliers. Suppliers can control the success of the business when they hold the power. The supplier holds the power of monopoly when they are the only suppliers of their goods; the buyer is not vital to the dealer’s industry; the supplier’s product is a main part of the buyer’s product and for business.
The distributive environment
Many firms, particularly in industrial markets where products are often buyer-specified market and deliver their products direct to the final customer. Other firms use some form of intermediate distribution system. The distribution system is then made up of one or more ‘middlemen’ who can be individuals or other organizations. They range from agents, distributors, factors and wholesalers to retailers.
External Environments/ Macro Environment
Macro environment denotes to those factors which are external to the company’s actions and do not impact the immediate environment. It comprises of general forces that affect all business activities in market, the external and unmanageable factors stimulates an organization's decision making and disrupt its performance and strategies. These factors include the economic factors; political factors and technological
Explain the different Marketing Environments and the role of Culture and Subculture.
Answer 2:
The marketing environment signifies a mix between the internal and external forces which surround an organization and have an effect upon it, especially their aptitude to build and maintain successful relationships with target customers. The trading forces in a market place over which a business has no direct control, but which shape the manner in which the business function and is able to gratify its customers . It is important, in order to understand the influences of external environment forces, to appreciate that, although the marketing function is the channel through which the firm adapts to change in external conditions, marketing’s …show more content…
Internal amenities and actions are those that affect the marketing operation composed of internal investors and the other functional areas within the business organization, i.e., the intra –firm environment, and are largely within the control of the firm. They are generally audited by applying “Five M’s” which are Men, Currency, Equipment, Resources and Markets. The Internal Environment is as important for managing change as the External Environments. The company aspect of micro-environment refers to the internal environment of the company. This contains altogether departments, such as management, finance, research and development, purchasing, operations and accounting. Each of these departments has a control on marketing …show more content…
Nearly every firm, whether engaged in manufacturing, wholesaling or retailing, is likely to have suppliers. Suppliers can control the success of the business when they hold the power. The supplier holds the power of monopoly when they are the only suppliers of their goods; the buyer is not vital to the dealer’s industry; the supplier’s product is a main part of the buyer’s product and for business.
The distributive environment
Many firms, particularly in industrial markets where products are often buyer-specified market and deliver their products direct to the final customer. Other firms use some form of intermediate distribution system. The distribution system is then made up of one or more ‘middlemen’ who can be individuals or other organizations. They range from agents, distributors, factors and wholesalers to retailers.
External Environments/ Macro Environment
Macro environment denotes to those factors which are external to the company’s actions and do not impact the immediate environment. It comprises of general forces that affect all business activities in market, the external and unmanageable factors stimulates an organization's decision making and disrupt its performance and strategies. These factors include the economic factors; political factors and technological