Marketing itself is a complex concept and can be defined from many different views, there are a plethora of definitions.
According the American Marketing Association, marketing can be defined as: “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”
Kotler defines marketing as: “The process by which companies create value for customers and build strong customer relationship in order to capture value from customers in return” (Kotler at al, 2011, pp.33)
Marketing Environment
Marketing environment companies perceived at two levels: macro environment (external environment) and micro environment (internal environment).
1. Macro Environment
The macro environment consists of wider surroundings of …show more content…
For the small organization, operations may be restricted to a local neighbourhood and the scope if its environmental analysis will be similarly restricted (Baker, 1998).
Political-Legal –
These factors include regulation and deregulation trends, government local and national type and stability, rule of law, freedom of press, rule of law and levels of bureaucracy and corruption, tax policy, and trade and tariff controls, social and employment legislation, environmental and consumer-protection legislation and likely future changes in the political environment.
Economical –
The economic environment include the development trends in income, expenditure and consumption. These trends affect purchasing strategy. Purchasing power is influenced by inflation, the tax system, increase the necessary expenses such as the cost of energy or housing. Also included impact of globalization, likely impact of technological or other change on the economy.
Social-Cultural
According the American Marketing Association, marketing can be defined as: “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”
Kotler defines marketing as: “The process by which companies create value for customers and build strong customer relationship in order to capture value from customers in return” (Kotler at al, 2011, pp.33)
Marketing Environment
Marketing environment companies perceived at two levels: macro environment (external environment) and micro environment (internal environment).
1. Macro Environment
The macro environment consists of wider surroundings of …show more content…
For the small organization, operations may be restricted to a local neighbourhood and the scope if its environmental analysis will be similarly restricted (Baker, 1998).
Political-Legal –
These factors include regulation and deregulation trends, government local and national type and stability, rule of law, freedom of press, rule of law and levels of bureaucracy and corruption, tax policy, and trade and tariff controls, social and employment legislation, environmental and consumer-protection legislation and likely future changes in the political environment.
Economical –
The economic environment include the development trends in income, expenditure and consumption. These trends affect purchasing strategy. Purchasing power is influenced by inflation, the tax system, increase the necessary expenses such as the cost of energy or housing. Also included impact of globalization, likely impact of technological or other change on the economy.
Social-Cultural