Podcast
Questions and Answers
What is the marketing environment defined as?
What is the marketing environment defined as?
- Everything outside the marketing department but within the company (correct)
- Everything related to marketing management
- Everything outside the company
- Everything inside the marketing department
What is the macroenvironment composed of?
What is the macroenvironment composed of?
- Mission & vision & strategy, Company departments, Company processes, Current marketing mix
- Demographic, economic, natural, technological, political, and cultural forces (correct)
- Company, suppliers, intermediaries, competitors, publics and customer markets
- Marketing Production Human Resources Purchasing
What does the microenvironment consist of?
What does the microenvironment consist of?
- Demographic, economic, natural, technological, political, and cultural forces
- The company, suppliers, intermediaries, competitors, publics and customer markets (correct)
- Marketing Production Human Resources Purchasing
- Mission & vision & strategy, Company departments, Company processes, Current marketing mix
What is the internal marketing environment?
What is the internal marketing environment?
What is the external marketing environment?
What is the external marketing environment?
What are the factors that affect the marketing department's ability to build and maintain successful relationships with target customers?
What are the factors that affect the marketing department's ability to build and maintain successful relationships with target customers?
What does the marketing environment include?
What does the marketing environment include?
What are the larger societal forces that affect the microenvironment?
What are the larger societal forces that affect the microenvironment?
What is the primary goal of the microenvironment?
What is the primary goal of the microenvironment?
What is the internal environment of the company also known as?
What is the internal environment of the company also known as?
What is the role of suppliers in the microenvironment?
What is the role of suppliers in the microenvironment?
What is the primary function of intermediaries in the microenvironment?
What is the primary function of intermediaries in the microenvironment?
What is the purpose of positioning a company's offerings against competitors' offerings?
What is the purpose of positioning a company's offerings against competitors' offerings?
What are publics in the context of the microenvironment?
What are publics in the context of the microenvironment?
What is an example of a financial public?
What is an example of a financial public?
What is the purpose of understanding the different publics in the microenvironment?
What is the purpose of understanding the different publics in the microenvironment?
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.)
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Description
This quiz covers the micro- and macroenvironment in marketing, including internal and external factors that affect a company's marketing strategy.
