16 Questions
What is the marketing environment defined as?
Everything outside the marketing department but within the company
What is the macroenvironment composed of?
Demographic, economic, natural, technological, political, and cultural forces
What does the microenvironment consist of?
The company, suppliers, intermediaries, competitors, publics and customer markets
What is the internal marketing environment?
Within the company but not in marketing department
What is the external marketing environment?
External to the company
What are the factors that affect the marketing department's ability to build and maintain successful relationships with target customers?
The company, suppliers, intermediaries, competitors, publics and customer markets
What does the marketing environment include?
Everything outside the marketing department
What are the larger societal forces that affect the microenvironment?
Demographic, economic, natural, technological, political, and cultural forces
What is the primary goal of the microenvironment?
To serve customers
What is the internal environment of the company also known as?
The company
What is the role of suppliers in the microenvironment?
To provide resources to produce goods and services
What is the primary function of intermediaries in the microenvironment?
To help the company promote, sell, and distribute its goods to final buyers
What is the purpose of positioning a company's offerings against competitors' offerings?
To gain strategic advantage
What are publics in the context of the microenvironment?
Any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives
What is an example of a financial public?
Banks and investors
What is the purpose of understanding the different publics in the microenvironment?
To achieve the company's objectives
Study Notes
The Marketing Environment
- The marketing environment includes everything outside the marketing department that affects marketing management's ability to build and maintain successful relationships with target customers.
The Microenvironment
- Consists of actors within and close to the company that affect its ability to serve its customers.
- Includes:
- The company (internal environment)
- Suppliers
- Intermediaries
- Competitors
- Publics
- Customer markets
The Company (Internal Environment)
- Includes:
- Mission and vision
- Current strategy
- Current marketing mix
- Processes within the company
- Departments within the company and how they collaborate (e.g. top management, finance, R&D, purchasing, operations, accounting)
Suppliers
- Important in delivering client value
- Provide resources to produce goods and services
- Should be reliable and qualitative
- Should be treated as partners to provide customer value
- Beware of potential threats
Intermediaries
- Help the company promote, sell, and distribute goods to final buyers
- Include:
- Resellers (shops, wholesalers)
- Logistical services (distribution firms, transportation, storage)
- Marketing services (market research companies, advertising agencies)
- Financial services (banks, insurers, investors)
Competitors
- Firms can gain strategic advantage by positioning their offerings strongly against competitors' offerings in the minds of consumers
- Direct competitors vs. indirect competitors
Publics
- Any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives
- Includes:
- Financial publics (influencing the company's ability to obtain funds)
- Media publics (carrying news, features, and editorial opinion)
- Government publics (management must take government developments into account)
- Citizen-action publics (consumer organizations, environmental groups, minority groups, etc.)
This quiz covers the micro- and macroenvironment in marketing, including internal and external factors that affect a company's marketing strategy.
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