LEARNING OUTCOMES
Learners should be able to:
Explain the composition and functioning of the marketing
environment
Illustrate the effect of the microenvironment on an organisation
Illustrate the effect of the market environment on an organisation
Illustrate the effect of the macro-e...
LEARNING OUTCOMES
Learners should be able to:
Explain the composition and functioning of the marketing
environment
Illustrate the effect of the microenvironment on an organisation
Illustrate the effect of the market environment on an organisation
Illustrate the effect of the macro-environment of an organisation
Conduct a SWOT analysis for an organisation
, INTRODUCTION
Marketing does not act in a vacuum, but in a complex and changing
environment. The microenvironment includes suppliers, intermediaries,
customers, competitors, the public, and others who may work with or
against the company. The macro environment is influenced by major
environmental forces, namely demographic, economic, natural,
technological, political and cultural. It is also important to understand
the market environment. These three markets shape marketing
opportunities, pose threats, and affect the company's ability to serve
customers and build lasting relationships with them. To understand
marketing and develop effective marketing strategies, you must first
understand the environment in which marketing operates.
COMPOSITION AND FUNCTIONING OF THE MARKETING ENVIRONMENT
Marketers need to be good at building relationships with customers,
others within the organization, and external partners. In order to do this
effectively, they must understand the great environmental forces that
surround all of these relationships. A company's marketing environment
consists of three components:
a. Microenvironment
b. Market environment
c. Macro-environment
The environment continues to change rapidly and both consumers and
marketers are wondering what the future will bring. Marketers need to
follow trends and seek opportunities more than any other group in the
business. By carefully studying the environment, marketers should be
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller reigntutorstc90. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.11. You're not tied to anything after your purchase.
