Skip to main content

MBA Notes - Marketing Environment

Question - What do you mean by marketing and marketing environment?


Answer
Introduction
In today's world of marketing, everywhere you go you are being marketed to in one form or another. Marketing is with you each second of your walking life. From morning to night you are exposed to thousands of marketing messages everyday. Marketing is something that affects you even though you may not necessarily be conscious of it.

Definition of Marketing
According to American Marketing Association (2004) - "Marketing is an organizational function and set of processes for creating, communicating and delivering value to customers and for managing relationships in a way that benefits both the organization and the stakeholder."

According to Kotler (2000) - "A societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others."

Marketing Environment
The term Marketing Environment refers to the forces and factors that affects the organization ability to built and maintain good relationship with its customers. Marketing environment surrounds the organization and it impacts upon the organization. Marketers have to interact with internal and external people at micro and macro level and builds internal and external relationships. The key elements of marketing environment are as follows :-
  1. Internal Environment,
  2. Micro Environment, and 
  3. Macro Environment.
Internal Environment
Internal factors like men, machine, money, material, etc., on which marketing decision depends consists internal marketing environment. The internal environment refers to the forces that are within the organization and affects its ability to serve its customers. It includes marketing managers, sales representatives, marketing budget, marketing plans, procedures, inventory, logistics, and anything within organization which affects marketing decisions, and its relationship with its customers.

Micro Environment
Individuals and organizations that are close to the marketing organization and directly impacts its ability to serve its customers, makes Marketing Micro Environment. The micro environment refers to the forces that are close to the marketing organization and directly impact the customer experience. It includes the organization itself, its suppliers, marketing intermediaries, customers, markets or segments, competitors, and publics. Happenings in micro environment is relatively controllable for the marketing organization.

Macro Environment
Macro environment refers to all forces that are part of  the larger society and affects the  micro environment. It includes demography, economy, politics, culture, technology, and natural forces. Macro environment is less controllable.

Popular posts from this blog

Functions of Human Resource Management

Question - What do you mean by Human Resource Management? Explain various functions of Human Resource Management. Answer Meaning of Human Resource Management Human Resource Management is a management function concerned with hiring, motivating, and maintaining the workforce in an organization. Human resource management deals with issues related to employees such as hiring, training, development, compensation, motivation, communication, and administration. Human resource management ensures the satisfaction of employees and the maximum contribution of employees to the achievement of organizational objectives. According to Armstrong (1997) , Human Resource Management can be defined as “a strategic approach to acquiring, developing, managing, motivating and gaining the commitment of the organization’s key resource – the people who work in and for it.” Functions of Human Resource Management Human Resource Management functions can be classified into the following

MBA Notes - Nature and Scope of Marketing

Question - Define marketing and explain the nature and scope of marketing.

Marketing Management Notes

The purpose of the MBA Marketing Management Subject is to develop an understanding of the underlying concepts, strategies, and issues involved in the marketing of products and services.  Marketing Management contains five modules: Marketing Concepts and Challenges; Marketing Planning and Control; Marketing Mix, Understanding Customer, and Marketing Information System; and Marketing Strategies. It explores the following topics in detail; Social Marketing, Marketing Mix, Customer Value, Competitor Analysis, Consumer Behaviour, Demand Forecasting, Market Segmentation, Targeting, and Positioning. Module I: Marketing Concepts & Challenges Nature and Scope of Marketing Management , Definition and Meaning of Marketing, Nature and Scope of Marketing, Marketing Process, Marketing Environment, Marketing Organisations, Marketing Challenges, Concept of Green Marketing, Concept of Social Marketing, Concept of Alliance Marketing,   Marketing Mix . Module II: Marketing P