Ardon Geoffrey Olonga
ADM No. NRB/49028
WBA – CCM 105
Q: Discuss Marketing Environment with specific practical examples based on an Organization/Company/Institution.
In the dynamic marketing environment for a business to sustain, it is necessary to link the business with all the variables in the marketing environment. The variables could have a negative or appositive impact on the operations and the life span of the business. The marketing environment has elements that influence one another, so the environment must be constantly monitored.
The market environment is a marketing term and refers to factors and forces that affect a firm’s ability to build and maintain successful relationships with customers.
There are three levels of the Marketing environment, and they include:
1. Micro (internal) environment - forces within the company that affect its ability to serve its customers.
2. Macro (national) environment - larger societal forces that affect the microenvironment.
3. Internal environment – the industry in which a company operates and the industry’s market(s).
The microenvironment refers to the forces that are close to the company and affect its ability to serve its customers. It includes:
a) The company aspect
c) Marketing intermediaries
d) Customer markets
e) Competitors, and
Micro describes the relationship between firms and the driving forces that control this relationship. It is a more local relationship, and the firm may exercise a degree of influence.
a) The Company Aspect
The company aspect of microenvironment refers to the internal environment of the company. This includes all departments, such as management, finance, research and development, purchasing, operations and accounting. Each of these departments has an impact on marketing decisions. For example, research and development have input as to the...