MKTG1025-Week2-Lecture-Environment-Micro-Macro-pt1

Week 2: Analysing the Environment Pt. 1 (Microenvironment)

Acknowledgement of Country

  • RMIT University acknowledges the Wurundjeri people of the Kulin Nations as the Traditional Owners of the land on which the University stands.

  • Recognizes Elders, both past and present.

  • Acknowledges the Traditional Custodians of lands across Australia where it conducts its business, and their Elders, Ancestors, cultures, and heritage.

Learning Objectives

  • Describe the micro environmental forces that affect the company's ability to serve its customers.

The Marketing Environment

  • A company's marketing environment consists of actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers.

  • Key Points:

    • Companies must constantly watch and adapt to the changing environment.

    • Marketing environment is categorized into:

      • Microenvironment

      • Macroenvironment

Microenvironment

  • Definition: The actors close to the company that affect its ability to serve its customers.

  • Components of the microenvironment:

    • The company itself

    • Suppliers

    • Marketing intermediaries

    • Customer markets

    • Competitors

    • Publics

The Company's Microenvironment

The Company

  • In designing marketing plans, marketing management must consider other company groups, including:

    • Management

    • Finance

    • Research and Development

    • Purchasing

    • Operations

    • Accounting

Suppliers

  • Suppliers are critical in the overall customer value delivery system.

  • They provide resources needed to produce goods and services.

  • Supplier-related issues can impact marketing, such as:

    • Supply shortages or delays, labor strikes affecting sales and customer satisfaction.

    • Rising supply costs may lead to price increases and reduced sales volume.

Marketing Intermediaries

  • Marketing intermediaries help a company promote, sell, and distribute its products to final buyers.

  • Types of intermediaries include:

    • Resellers

    • Physical distribution firms

    • Marketing services agencies

    • Financial intermediaries

Competitors

  • The marketing concept emphasizes providing greater customer value and satisfaction than competitors.

  • Marketers must:

    • Adapt to consumer needs.

    • Gain strategic advantage by positioning offerings effectively against competitors in the consumers’ minds.

Publics

  • A public is any group with actual or potential interest in, or impact on, an organization’s ability to achieve its objectives.

  • Types of publics:

    1. Financial public

    2. Media public

    3. Government public

    4. Citizen-action public

    5. Local public

    6. General public

    7. Internal public

Customers

  • Customers are the most critical actors in the company's microenvironment.

  • The goal is to serve target customers and build strong relationships with them.

  • Types of customer markets include:

    1. Consumer markets

    2. Business markets

    3. Reseller markets

    4. Government markets

    5. International markets

Check Your Understanding

  • Reflect on the coffee or tea you might buy at your local coffee store.

  • Consider the coffee suppliers, intermediaries, competitors, and customers.

  • Create a diagram illustrating the microenvironment for the coffee store.