M2

DESIGN A CUSTOMER VALUE DRIVEN MARKETING STRATEGY

MODULE 1.2 ANALYZING THE MARKETING ENVIRONMENT

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Marketing Environment:

  • Consists of the actors & forces outside marketing that affects marketing
  1. Microenvironment:
       * actors close to the company that affects its ability to serve its target market

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  1. Macro Environment:
       * larger societal forces that affect the microenvironment

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The Elemennts of The Microenvironment

  1. Company:
       * Top Management
       * Finance
       * Research and development
       * Purchasing operations
       * Accounting
       * Other department

  2. Suppliers:
       * Partners in providing customer value.
       * Provide inputs for the production of goods and services.
       * Raw materials
       * Equipment
       * Machines
       * Labor

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  1. Marketing Intermediaries:
       * Help the company to promote, sell adn distribute its products to final buyers.
       * Resellers
       * Physical distribution firms
       * Marketing services agencies
       * Financial intermediaries

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  1. Competitors:
       * Firms must gain strategic advantage by positioning their offerings against competitors’ offerings.
       * Direct competitors
       * Indirect competitors

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  1. Publics:
       * Any group that has an actual or potential interest in or impact on organizations ability to achieve its objectives.
       * Financial publics
       * Media publics
       * Government publics
       * Citizen-action publics
       * Internal publics
       * General public
       * Local publics

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  1. Customers:
       * Buyers of the product being sold
       * Consumer markets
       * Business markets
       * Reseller markets
       * Government markets
       * International markers

Elements of the Macroenvironment (PESTND)

  1. Political:
       * Laws, government agencies, and pressure groups that influence or limit various organizations & individuals in a given society
  2. Economic:
       * Factors that affect consumer purchasing power & spending patterns
       * Inflation
       * Employment/Unemployment Rate ○Salary/Wage
       * Income Distribution