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Case Study example - Marketing of Central Heating System
Pages 6 (1506 words)
The marketing environment is changing at an accelerating rate, so the need for real time market information in greater than in any time in the past. The shifts are dramatic from local to global marketing from buyer needs to buyer wants from price to non-price competition…
Extract of sample
They can do a better job of choosing their market, developing their offerings and executing their marketing plans. Company needs a strong marketing information system to gather, sort, analyze, evaluate and distribute needed, timely and accurate information to marketing decision makers. This information in developed from internal company records, marketing intelligence, marketing research and marketing decision support analysis. Marketers find many opportunities by identifying trends in the macro environment. A trend is a direction or sequence of events that have some momentum and durability. According to futurist Faith Popcorn (1992) a trend has longevity, is observable across several market areas and consumer activities and is consistent with other significant indicator that occur or energy at the same time. A new product or marketing programme is likely to be more successful if it is in line with strong trends rather than opposed to them. Companies and their suppliers, marketing intermediaries, customers and competitors all operate in a macro environment of force and trends that shape opportunities and pose threats. Within the rapidly changing global picture the firm must monitor six major forces: demographics, economics, natural, technological, political-legal and socio-cultural. Now we will analyze the there markets i.e. ...
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