Chapter 4 Notes.docx - Chapter 4 Analyzing the Marketing Environment Microsoft Adapting to the Fast-Changing Digital Marketing Environment A company\u2019s

Chapter 4 Notes.docx - Chapter 4 Analyzing the Marketing...

This preview shows page 1 - 4 out of 20 pages.

Chapter 4: Analyzing the Marketing Environment Microsoft: Adapting to the Fast-Changing Digital Marketing Environment A company’s marketing environment consists of the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers Companies constantly watch and adapt to the changing environment Marketers must be environmental trend trackers and opportunity seekers Marketers have two special abilities: o 1. Collecting information about the market o 2. They spend more time in customer and competitor environments By carefully studying the environment, marketers can adapt their strategies to meet new marketplace challenges and opportunities Marking environment consists of a microenvironment and macroenvironment Microenvironment o Consists of actors close to the company that affect its ability to serve its customers (company, suppliers, marketing intermediaries, customer markets, competitors, and publics) Macroenvironment o Consists of larger societal forces that affect the microenvironment (demographic, economic, natural, technological, political, and cultural forces) The Microenvironment Marketing management’s job is to build relationships with customers by creating customer value and satisfaction o Marketing managers can’t do this alone Marketing success requires building relationships w/other company departments, suppliers, marketing intermediaries, competitors, various publics, and customers The Company
Image of page 1
Marketing management takes other company groups into account when designing plans o Top management, finance, research and development, purchasing, operations, and accounting o Top management sets the company’s mission, objectives, broad strategies, and policies Marketing managers must work closely with other company departments Suppliers Supplies form important link in the company’s overall customer value delivery network Provide the resources needed by the company to produce its goods and services Marketing managers must watch supply availability & costs Supply shortages or delays, labour strikes, natural disasters, & other events can cost sales in the short run & damage customer satisfaction in the long run Rising supply costs may force price increases that can harm the company’s sales volume Most marketers today treat their suppliers as partners in creating and delivering customer value o Ex: Ikea Marketing Intermediaries Marketing intermediaries help the company promote, sell, and distribute its products to final buyers o Resellers, physical distribution firms, marketing services agencies, & financial intermediaries o Resellers are distribution-channel firms that help the company find customers or make sales to them Wholesalers & retailers that buy & resell merch o Physical distribution firms help the company stock & move goods from their points of origin to their destinations
Image of page 2
o Marketing services agencies
Image of page 3
Image of page 4

You've reached the end of your free preview.

Want to read all 20 pages?

  • Spring '15
  • Marketing,  Rising supply costs

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes