Chinmay Das, ABIT,Cuttack

Marketing Environment

Lecture Lesson

By

Chinmay Das

Chinmay Das, ABIT,Cuttack

Marketing Environment

The marketing environment surrounds and impacts upon the organization. There are three key elements to the marketing environment .

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Marketing Environment

External Environment

-Micro Environment

-Macro Environment Internal Environment

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Internal Environment

A useful tool for quickly auditing internal environment is known as the Seven M’s.

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Internal Environment

Materials Machinery Money Method Market Minute Men

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Internal Environment

Production Activities Financial Activities Human Resource Activities Plant Location R&D Strength Company Brand Equity

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External Macro Environment

Demographic Economic Conditions Competition Social and Cultural Forces Political and Legal Forces Technology

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Demographic

Size, Distribution and Growth of population

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Economic Conditions

Stages of Business Cycle Inflation Interest Rate

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Competition

Brand Competition Competition from substitute products Competition with all offerings

__________

Differential Advantage

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Social and Cultural Forces

Concern about Natural Environment Changing Gender Roles Premium on Time Physical Fitness and Health

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Political and Legal Forces

Monetary and Fiscal Policies Social legislation and Regulations Governmental relationship with Industries Legislation related to Marketing

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Technology

Breakthrough can occur New products like LASER, Computer, Robots Radically altering or destroying existing

products Indirect Influence

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External Micro Environment

Market Suppliers Marketing Intermediaries