The Marketing Environment
In Modules 1 and 2, we've begun discussing how important it is for businesses to
understand their industries and environments in order to succeed. In this module,
we'll look more closely at the important environmental factors which often prove
to have a significant impact on businesses and on the success of their marketing.
We'll study how these different elements -- within the organization, close to the
organization, and beyond the organization -- influence organizational decisions
and consumer buying. Understanding these marketing environmental factors can
help you improve your account-planning skills and become a more effective
marketer and ad team member.
Identify the elements that make up the marketing microenvironment.
Recognize the elements that make up the marketing macroenvironment.
Understand why modern marketers look to these factors as they develop
their marketing plans.
An important part of our individual human development comes from our
interactions with our environment. As we grow, we learn increasingly more about
the world around us and how we fit into that world. The more we come to
understand the factors that surround us, the more safely, intelligently, and
effectively we tend to make our way through our day-to-day activities. The
situation is similar with business. The more organizations can learn about their
industry, markets, customers, competitors, and the broader set of factors that
impact them and shape their surroundings, the better those organizations will be
at navigating through those factors and sustaining mutually beneficial
relationships with their customers.
All marketing environmental elements can be categorized into one of two main
categories. The first, the
, consists of
environmental factors within or close to the organization providing the products
or services. The second, the
, consists of
elements beyond the organization that may have a direct or indirect impact on
The Marketing Microenvironment
In order to sustain mutually beneficial customer relationships, marketing efforts
must continually strive to deliver value and satisfaction to customers. Marketing
managers can't do that alone. They need the help of other contributing partners
within or close to the company that can improve the company's ability to serve its
customers. These partners, along with competitors that shape each respective
market, make up a company's microenvironment. They include the company and
its internal functions, suppliers, marketing intermediaries, customers,
competitors, and publics. Let's take a close look at each of these components
within the microenvironment.