The Marketing Macroenvironment Table of Contents Table of Contents ……………………………………………………….2 Introduction ……………………………………………………….3 Examples of Macroenvironment Effects on Companies ………………….4 Conclusion ………………………………………………………………6 References ………………………………………………………………7 The Marketing Macro-environment Introduction Throughout history, humans have been seeking their intrinsic needs to survive…
This is defined as one of the central ideas and concepts of marketing (Moore and Pareek 2006). But what is marketing exactly? Well, for one, marketing as a word has many definitions. For the common and layman’s terms, it is associated with selling or advertising. However, it has more meanings to it than that. For one, it is the process of creating, distributing, promoting and pricing goods, services or ideas in order to foster a satisfying relationship between manufacturers or other sources of goods, and the customers (Pride and Ferrell 2012). Also, one of its goals is to maintain this relationship as favorable as possible in order to facilitate more exchanges, not just with the buying customers but also other stakeholders as well, This would include other people that may not be necessarily buying the goods or services, but have financial input in the product or firm. This may also include people that do not have any direct interaction with the company itself, but may have potential as customers or stakeholders in the future. Another definition of marketing is defined by the American Marketing Association in 2005 as: “an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders” (Ries and Trout 2006). Also, in the realm of marketing, it is said that the customer holds the key as to whether the company or firm would be able to thrive or even become successful in terms of profits and development. Therefore, in order to become successful, a firm or company must be able to give satisfaction to their customers, and this lasting positive relationship between them would define the company as a whole (Silk 2006). The whole concept of marketing has many aspects as well as other deciding factors in the course of action of a firm or company. These would very well depend on the marketing environment. It is defined as the environment surrounding a company and its organization which can have an effect on its profits or even its reputation (Petzer, et al. 2006). For example, in the law of supply and demand, if there is low supply and a large demand, all competing companies would have a chance to create relationships to all customers, and by creating better services than the competition would make the company successful. However, if there is a large supply coming in from different competing groups of companies, the competition would be tougher since there would be more opponents to face, as well as the large market being divided among the competitors. Thus, being able to stand out among the rest would really make or break the company as a whole, as compared to only having a few competitors at hand (Petzer, et al. 2006). The marketing environment also has different factors that can affect it. These can be either be the microenviroment or the macroenvironment. The microenvironment is found in the company organization itself. The influence of the organization ...
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The micro-environment can be analyzed through Porter’s Five Forces strategy. Starbucks is an upscale brand of coffee enjoying competitive advantage. The coffee industry is monopolistic and competitive rivalry is high. The bargaining power of buyers is low for the general consumers but for the discerning, niche clients to whom Starbucks caters, the choice is limited.
Just like any other companies, Apple simply tries to stimulate demands for its products and meeting customers’ needs on a timely basis (Apple Incorporated, 2011). This is a customer-centric approach of looking at how Apple was able to genuinely surpass competition.
The Marketing Teacher (2000) cited Barwell to expound on the term by indicating that “the marketing concept is a philosophy, not a system of marketing or an organizational structure. It is founded on the belief that profitable sales and satisfactory returns on investment can only be achieved by identifying, anticipating and satisfying customer needs and desires” (Marketing Teacher, par.
In assessing an effective marketing model, the researcher has chosen a business enterprise, which is Apple. Along with the fast paced development of technology and the emergence of numerous information technology companies in the market, Apple stood out as one of the most competitive firms that are capable of aggressively marketing their products to consumers and making it work (Nguyen, 2011).
The aspect of marketing is generally utilised in order to recognise a particular customer, fulfil the various desires of the customer through offering better quality products along with attaining the expected business objectives. In this connection, the marketing concept depicts that if a business organisation desires to fulfil its organisational goals, it is very much essential for the business organisation initially to foresee the various sorts of logical requirements and wishes of the customers (American Management Association, n.d.).
The income, spending power and wealth dispersion all contribute to the environment in which the NBA must market.
The NBA can not directly affect the popularity of other sports, for example soccer. Soccer is played on a much more global scale than basketball and many fans will not root for another team, let alone another sport.
Marketing audit is comprised of six parts: marketing environment which examines the macroenvironment and task environment; marketing strategy audit; marketing organization audit; marketing systems audit; marketing productivity audit; and marketing function audit (Kotler 2003).
This is a customer-centric approach of looking at how Apple was able to genuinely surpass competition. However, this is not the only concern that will eventually give out the whole picture of Apple’s marketing
n be connected to the Internet and perform several applications, such as turning into a “digital health centre” that can monitor people’s vital signs while exercising, a portal for internet browsing, and they can also access media content and services like cellular phones
The conclusion from this study states that marketing conception acts as a significant factor for any business organization while operating their business functions worldwide. The business organizations generally deal with certain business environmental factors, out of which the macro environmental factors play a vital part of the organizations.
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