Week 2: Marketing Environment Chap 2 and 3

Microenvironment Part 1:

The marketing environment is the business environment in which the firm operates. The
microenvironment consist of factors that are very close to the business (company, suppliers,
marketing intermediaries, competitors, public, customers). We have some control over
these factors.

All departments of a company must work in sync to design marketing plans

Most marketers today treat suppliers as partners to create and deliver customer vale.

These are businesses that help companies promote, sell, and distribute to its final buyers.

Companies should differentiate themselves from their competitors.

Anyone who has an impact or interest in the organisation
Financial: Banks, shareholders, investments houses
Media: TV, Radio, News, Magazines, Social Media
Government: Legal advisors,
Citizen action:
Local: local residents, public relations officer,
General:
Internal: Labour unions, workers, managers

The different types of market

1. Consumer: general public buys for daily consumption
2. Business: buys for production process
3. Reseller: buys to sell again at profit
4. Government: buy to produce public services
5. International:

Macroenvironment Part 2:
This at the factors of the microenvironment

Demographic:

Study of human populations, it involves people which make up market.

Age groups:
Baby Boomers (people aged 76-58) (likely to postpone retirement) (more money and careful
with it)
Generation X (57-46) (first gen latchkey Kids)
Millenials or Gen Y (45-22) (children of baby boomers)
Gen Z (after 2000)

This information can be used for market segmentation.

Trends in demographic changes:

Changing families
Geographic shifts in population (people move from different places within the country)
Increasing diversity (migrants)

Economic:
Companies look at the changes in income and consumer spending patterns.

Natural:
Involves the natural resources available.
Technological:
Technological advancements

Political:
Laws, government agencies, and pressure groups that influence or limit various
organisations.

Cultural forces:
Marketers want to predict cultural shifts to spot new opportunities or threats.

Customer value-driven marketing strategy: