"A company's marketing environment consists of the factors and forces outside marketing that affect marketing management's ability to build and maintain successful relationship with target customer'
- Philip Kotler
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Marketing environment refers to the factors and forces that affect a firm's ability to build and maintain a successful relationship with customers.
Some of the factors are controllable, while some others are uncontrollable.It is the responsibility of the marketing manager to change the change the company's policies along with the changing environment.
Nature of Marketing Environment
- Changing as per environment
- Communication
- Challenges
- Wide Market
Changing as per environment
- Marketing environment plays a vital role while taking decisions related to marketing.
- It's limit to decide on the basis of geographical factors.
- There are some non-controllable variables included in marketing environment which affect the potentiality of a company and provide new direction to the market.
- New opportunities and risks always rise in the marketing environment which reinforces marketing experiments and research.
- Consumers are divided inhomogeneous sections for marketing of a product on the basis of a marketing environment.
There are following components of marketing environment
Internal Environment
Forces and actions inside the firms that affect the marketing operations composed if internal stakeholders and the other functional areas within the business organization are known as internal environment of marketing.
The internal environment includes
- HR Department
- Operations Department
- Accounting and Finance Department
- Research and Development Department
The external Environment composed of
- Macro Environment
- Micro Environment
Macro-Environment
The micro-environment refers to the forces that are close to a company and affects its ability to serve its customers. It includes the company itself, its suppliers, marketing intermediaries, customer markets and public
Factors affecting macro environment are
Company
The company aspect of micro-environment refers tot he internal environment of the company. This includes all departments like management, finances, research, and development, purchasing operations, and accounting. Each of these departments has an impact on marketing decisions.
Marketing Intermediaries
Market Intermediaries refer to the resellers, wholesaler, physical distribution agencies and financial intermediaries.
Customer
There are different types of customer market, government market, international market and reseller markets.It is a different type of customer market like consumer markets, business markets, government markets and reseller markets.The reseller market includes a business that purchases goods for the reseller which gives profits.
Public
The final aspect of the micro-environment is public. They may be financial, public, media, public, government public, citizen action public, local public, general public.
Macro Environment
The macro environment refers to all forces that are part of the larger society and affect the micro-environment. It includes concepts likes demography, economy, natural forces, technology, politics, and culture.
Factors affecting the macro environment are :
Demographic Environment
Demographic data help in preparing geographical market plans, household marketing plans, age and sex-wise plans. It influences the behavior of consumers which in turn will have a direct impact on the marketplace.
A marketer must communicate with consumers, anticipate problems, respond to complaints and make sure that the firms operate properly and smoothly.
Social-Cultural Environment
It includes culture, traditions, belief, values, and lifestyles of the people. Social responsibility has crept into the marketing literature as an alternative to marketing concept.
Economic Environment
The economic environment depends on the current income, price, savings, debts and credit availability, tax rates, income-tax rates, etc.
Political-Legal Environment
The political and legal environment consists of laws, government and pressure groups that influence various organizations and people.
The other laws viz labor laws, constitutional laws, tax laws, pollutions control act, the industrial policy also have a great impact on the markets.
Technological Environment
It includes technology section, change in technology and government approach in respect of technology. Major new technology stimulates economy's growth rate.
Natural Environment
It involves the natural resources that are needed as an input by the marketers.
In India, many NGOs has fought against indiscriminate mining, use of harmful pesticides, deforestation, an introduction of genetically modified foods, pollution of rivers and underground water.
Public
The final aspect of the micro-environment is public. They may be financial, public, media, public, government public, citizen action public, local public, general public.
Macro Environment
The macro environment refers to all forces that are part of the larger society and affect the micro-environment. It includes concepts likes demography, economy, natural forces, technology, politics, and culture.
Factors affecting the macro environment are :
Demographic Environment
Demographic data help in preparing geographical market plans, household marketing plans, age and sex-wise plans. It influences the behavior of consumers which in turn will have a direct impact on the marketplace.
A marketer must communicate with consumers, anticipate problems, respond to complaints and make sure that the firms operate properly and smoothly.
Social-Cultural Environment
It includes culture, traditions, belief, values, and lifestyles of the people. Social responsibility has crept into the marketing literature as an alternative to marketing concept.
Economic Environment
The economic environment depends on the current income, price, savings, debts and credit availability, tax rates, income-tax rates, etc.
Political-Legal Environment
The political and legal environment consists of laws, government and pressure groups that influence various organizations and people.
The other laws viz labor laws, constitutional laws, tax laws, pollutions control act, the industrial policy also have a great impact on the markets.
Technological Environment
It includes technology section, change in technology and government approach in respect of technology. Major new technology stimulates economy's growth rate.
Natural Environment
It involves the natural resources that are needed as an input by the marketers.
In India, many NGOs has fought against indiscriminate mining, use of harmful pesticides, deforestation, an introduction of genetically modified foods, pollution of rivers and underground water.
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