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