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The Indian Marketing Environment:

The Indian Marketing Environment

Slide 1:

What is marketing? Marketing is: Focusses on customers needs Begins before production Continues after sale Profits through customer satisfaction Long term prospective Customer first then product 3 - 1

Marketing environment:

Marketing environment Marketing environment comprises of the combination of two words ‘marketing’ and ‘environment’. Marketing means responding to the needs and demands of the consumers to provide optimum satisfaction. Similarly environment refers to external factors influences and organizational power which is related to the aim and effective working of a firm. Thus marketing environment refers to external or macro factors and forces which not only influence a company but also the components which affect the consumers analyzing its trend and impact on the operations and performance of the company. 3 - 2

The Marketing Environment:

3 - 3 The Marketing Environment Marketing Environment: The actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers Microenvironment Includes the actors close to the company Macroenvironment Involves larger societal forces Goal 1: Understand environmental factors

Microenvironment:

3 - 4 Marketing must consider other parts of the organization including finance, R&D, purchasing, operations and accounting Marketing decisions must relate to broader company goals and strategies Microenvironment Actors The company Suppliers Marketing intermediaries Customers Competitors Publics Goal 1: Describe environmental factors

Microenvironment:

3 - 5 Marketers must watch supply availability and pricing Effective partnership relationship management with suppliers is essential Microenvironment Actors The company Suppliers Marketing intermediaries Customers Competitors Publics Goal 1: Describe environmental factors

Microenvironment:

3 - 6 Help to promote, sell and distribute goods to final buyers Include resellers, physical distribution firms, marketing services agencies and financial intermediaries Effective partner relationship management is essential Microenvironment Actors The company Suppliers Marketing intermediaries Customers Competitors Publics Goal 1: Describe environmental factors

Microenvironment:

3 - 7 The five types of customer markets Consumer Business Reseller Government International Microenvironment Actors The company Suppliers Marketing intermediaries Customers Competitors Publics Goal 1: Describe environmental factors

Microenvironment:

3 - 8 Conducting competitor analysis is critical for success of the firm A marketer must monitor its competitors’ offerings to create strategic advantage Microenvironment Actors The company Suppliers Marketing intermediaries Customers Competitors Publics Goal 1: Describe environmental factors

Microenvironment:

3 - 9 A group that has an actual or potential interest in or impact on an organization Seven publics include: Financial Media Government Citizen-action Local General Internal Microenvironment Actors The company Suppliers Marketing intermediaries Customers Competitors Publics Goal 1: Describe environmental factors

The Macroenvironment:

3 - 10 Macroenvironmental Forces The Macroenvironment Demographic Economic Natural Technological Political Cultural Goal 1: Describe environmental factors

Demographic Environment:

3 - 11 Demographic Environment Demographic Environment: The study of human populations in terms of size, density, location, age, gender, race, occupation and other statistics Goal 2: Learn how demographic & economic factors affect marketing

Natural Environment:

3 - 12 Natural Environment Natural Environment: Involves the natural resources that are needed as inputs by marketers or that are affected by marketing activities Trends Shortages of raw materials Increased pollution Increased government intervention Goal 3: Identify trends in natural and technological environments

Technological Environment:

3 - 13 Technological Environment The most dramatic force shaping our destiny Rapidly changing force which creates many new marketing opportunities but also turns many existing products extinct Goal 3: Identify trends in natural and technological environments

Political Environment:

3 - 14 Political Environment Consists of laws, government agencies and pressure groups that influence or limit various organizations and individuals in a given society Legislation affecting businesses worldwide has increased Laws protect companies, consumers and the interests of society Increased emphasis on socially responsible actions Goal 4: Explore political and cultural environments

Cultural Environment:

3 - 15 Cultural Environment Made up of institutions and other forces that affect a society’s basic values, perceptions, preferences and behaviors. Goal 4: Explore political and cultural environments

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