Macro Environment And The Marketing Environment

Marketing Environment

• The market environment is a marketing term and refers to factors and forces that affect a company’s ability to build and maintain successful relationships with customers. Micro environment is a small force within the company that affect its ability to serve its customers. Macro environment is a larger societal force that affect the microenvironment. (Jobber and Ellis-Chadwick 7th Edition)

The five forces

• Political

• Economics

• Environmental

• Social

• Technological

They have been the focus of attention with the result that the term PEEST analysis.

Political

Polital and legal fourses can influence marking decisions by setting the rules by which business is cuducted .Smoking bans in pubic places can have a dramatic

It is often considered synonymous with the four Ps of marketing: product, price, place, and promotion. The four Ps are integral to the definition marketing itself, as marketers seek to determine what the best product is, what the best price is for that product, where is the best place to sell it, and where and when is best to promote it. The right balance of these four key components must be met in order for marketing to be successful, with success defined as serving the needs of customers while generating optimum income. Marketing models are adjusted until that balance is

All the other elements represent costs. Companies must also take into account the necessity to discount and give allowance in some transactions. These requirements can influence the level of list price chosen.

• Promotion

The promotional communication aims at informing and persuading the customer to buy the product and informing him about the merits of the products.

Place

In the marketing mix, the process of moving products from the producer to the intended user is called place. In other words, it is how your product is bought and where it is bought. This movement could be through a combination of intermediaries such as distributors, wholesalers and retailers. In addition, a newer method is the internet which itself is a marketplace now.Through the use of the right place, a company can increase sales and maintain these over a longer period of time. In turn, this would mean a greater share of the market and increased revenues and profits.Correct placement is a vital activity that is focused on reaching the right target audience at the right time. It focuses on where the business is located, where the target market is placed, how best to connect these two, how to store goods in the interim and how to eventually transport