week 3- marketing environment
Customers
actual and potential buyers
Micro-environment
all those organisations and individuals directly or indirectly affecting the activities of the organisation
Competitors
alternative provider of the offer sought by the market
Internal environment
components of an organisation affecting corporate culture: marketing department, relationship of marketing to other business functions, employees
Marketing environment
conditions and influences impinging on marketing
Environmental scanning
early warning system for environmental forces which may impact products and markets in the future- enables a company to act rather than react
Economic
factors affecting consumer buying power and spending patterns: inflation, interest rates, employment levels, income
Technological
forces affecting new technologies, creating new products and market opportunities
Marketing intermediaries
help and organisation to promote, sell and distribute its goods: resellers, physical distribution firms, marketing services agencies, financial intermediaries
Demographic/social
human population in terms of size, density, location, age, sex, race, occupation etc.
Cultural (social)
institutions etc. affecting society's basic values, perceptions, preferences and behaviours. Society influences beliefs and values
Macro-enivironment
larger, wider forces that have influence over companies and economies: political/legal, economic, social/cultural, technological, natural
Political (legal/regulatory)
laws and government agencies that influence and limit various organisations and individuals in society (ACCC and ethics and corporate social responsibility)
Community members
local non-governmental organisations
Monitoring and responding to change
markets must be continuously monitored in order for an organisation to plan ahead
Natural
natural resources as needed by marketers or which are affected
Suppliers
provide inputs/factors of production to the business
Indirect competitor
same need, different product
Direct competitor
similar product
Employees
source of a company's success- building customer commitment, increasing customer willingness to pay, improving level of customer satisfaction
Stakeholders in the micro-environment
suppliers, shareholders, government, organisation, intermediaries, competitors, other customers, community, value chains, customer
Shareholders
those who 'own' (have shares in) the company- maximise the return on shareholder's investment