Meaning:
Marketing management wants to build relationship with customer value and satisfaction. However, marketing managers cannot do this alone. To do this effectively they must understand the major environment forces that surrounded all this relation.
There are two kinds of marketing environment. They are,
A) Micro Environment
B) Macro Environment
1. Company: Company is the important element of micro Environment. Company drives their function successfully by many departments. Such as purchase department, finance, research, operation, accounting, management and other department.
2. Supplies: Supplies are important link in the companies. Overall customers value delivery system. They provide the resource needed by the company to produce its goods and services.
3. Marketing Intermediaries: Marketing intermediaries are firms that help the company to promote, sell and distribute its goods to final buyers. There are four types of Marketing Intermediaries, i. Reseller ii. Physical Distribution iii. Marketing Service Agencies iv. Financial Agencies
4. Customer: Customer is the very important element of the Micro Environment. The company needs to study five types of customers market closely. They are: i. Customer Market ii. Business market iii. Reseller Market iv. Government Market v. International Market
5. Competitors: The Marketing concept states that to be successful, a company must provide greater customer value and Satisfaction than its competitors do. Any single company cannot provide best service. So, they must have competitors.
6. Publics: Publics is any groups that have an actual or potential interest in or impact on an organizational ability to achieve its objective. We can identify seven types of publics, i. Financial publics ii. Media publics iii. Government publics iv. Citizen-action publica v. Local publics vi. General publics vii. Internal publics
However, this forces impact on organization directly. So, this forces used appropriately.
A) Macro Environment: Company and all of the other actors operate in surrounded by the Macro Environment. There are many factors which in affected by the Macro Environment. They are given bellow,
1. Demographic Environment: Demography is the study of human Population, in terms of age, size, Density, location, gender, race, Occupation and other statistics. The demographic environment is of major interest to marketers because it involves people and people make up markets.
2. Economic Environment: Economic environment consist of factors that affect purchasing power and spending patterns. It is one of the most important factors. The economic environment affects some issue. Such as, i. Changes in Income ii. Changing consumer spending patterns
3. Natural Environment: Natural environment involves the natural resources that are needed as inputs by marketers are affected by marketing activities. Marketers should be aware of several trends in the natural environment. That are,
i. Shortage of natural Resources ii. Increasing population iii. Increasing govt. intervention in natural resource management
4. Technological Environment: Technological environment is forces that create new technology, product, and market opportunities. This environment is blessing for our market. For this environment, we get TV, automobile, credit card etc. Moreover, this environment also damages our life. Nuclear weapon, assault rifles are the rust of this environment.
5. Political environment: Political environment is consists of laws, govt. agencies, and pressure groups that influence and limit various organization and individuals in a given society. It is very important environment for markets. Markets considered two ways in political Environment.
i. Legislation Regulating Business ii. Emphasis on ethics and social responsibility action
6. Cultural Environment: Cultural environment is an institution and other forces that affect society basic value, perception and behaviors. The following Characteristics can afford making marketing decision. Such as i. Persistence of cultural value
ii. Shifts in secondary cultural value
So, we may say that Macro Environment is very important for making marketing decision.
