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  5. MNM2601 - Marketing Management (M1503)

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Marketing Environment Questions & Answers
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1. Definitions; Market environment, Macro environment & micro environment 2. Inflation and competition might influence an organisation's marketing strategy 3. Methods that a marketing manager could use to undertake environmental scanning 4. Technological environment effects 5. Enterprise'...

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  • January 21, 2023
  • 8
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

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The Marketing Environment
Questions & Answers
Content:
1. Definitions; Market environment, Macro environment & micro
environment
2. Inflation and competition might influence an organisation's
marketing strategy
3. Methods that a marketing manager could use to undertake
environmental scanning
4. Technological environment effects
5. Enterprise's external environment
6. Marketing environment

, Questions
1. Give brief definitions of:
(a) the market environment; (5 marks)
(b) the macro environment; and (6 marks)
(c) the micro environment. (5 marks)


Solution


(a) The market environment is the environment that is immediately outside of the
internal environment. The marketing department's activities and strategies are
directly affected by the market climate.
The market environment's variables are as follows:
 the supplier environment;
 the intermediary (channel) environment;
 the customer environment;
 the competitive environment; and
 the public environment.

(b) The macro environment is the one over which the corporation has the least
control. When planning, macro environmental forces must be considered, and
a constant scanning of these variables is required to ensure that plans are
realized.
The following sub-environments are part of the macro environment:
 demographic environment;
 economic environment;
 technological environment;
 natural environment;
 political environment;
 cultural environment; and

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