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8/9/2019 Session 3 & 4 Marketing Environment
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MARKETING ENVIRONMENT
Process of Scanning the Opportunities and
Threats in the area where the business is
existing.
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To observe the relevant events and trends
To detect which events and trends are favorable
To assess the scope of various opportunities
To help secure the right fit between the environment
and the business unit.
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Macro Environment
Micro Environment
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Macro environment1. Demographic environment
2. Socio-Cultural environment
3. Economic environment
4. Political environment
5. Natural environment
6. Technology environment
7. Legal environment8. Government Policies
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Demographic environment
Population
growth rate
age distribution
Literacy
workforce
household patterns
population shifts
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Socio-Cultural environment
Culture
Religion, language, education, upbringing,
consumption habits, lifestyles, buying behavior
Social Class
Income
Occupation Location of Residence
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Economic environmentEconomic conditions of different segments of the
population, disposable income, purchasing power
Rate of growth of the economy.
Agriculture, Industry, Consumer Goods, Capital Goods,Services, Infrastructure, Imports, Export
Credit Availability and Interest Rates
Savings rate/Capital formation
Inflation Rate
Behavior of capital market.
Foreign Exchange rates, Tax RatesPrices of important materials
Energy and Labour (cost, skill, availability etc.)
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Political environmentForm of Government adopted by the country.
Political Stability
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Natural Environment
Natural ResourcesTrends governing the cost of raw material
Trends governing the cost of energy.
EcologyIssues like Environmental pollution
ClimateProducts whose demand depends on climate
Firms depending on climate dependent raw materials.
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Technology Environment
Options available in technologyLevel of Technology and technological changes prevailing in country
and also at the international level.
Merits and cost-effectiveness of alternative technologies.
Assess the scope of substitute products emanating from newtechnologies.
Governments approach in respect of technologyRegulations by Govt. in matters relating to technology.
Support in terms of use of modern technology.
Technology selectionForecast technological trends
Assess current and emerging technologies
Develop the inputs for right technology choice.
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Legal Environment
Consumer Protection
Employee Protection
Sectoral ProtectionCorporate Protection
Regulations on products, prices and distribution
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Micro Environment
Environment that is specific to the business:
The Market/Demand
The Consumer
The Industry
The Competition
Government Policies
Supplier related factors
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The Market/Demand
Nature of the demand
Size of the demand, present and potential
Changes taking place in demandInvasion of substitute products.
Changes taking place in consumption pattern.
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The ConsumerWhat benefits do the consumers look for in the
product?
Purchasing power of the consumers.
According to the customer, what is the need itserves?
Buying Behaviour; Buying Motives, Buying habits.
Lifestyles and needs; present position and trends.
Brand Loyalty.
Brand switching, how loyalties are shifting.
Who among the competitors remains closest to thecustomer and why?
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The Industry
Knowledge about industry and competition
Competitive Advantage
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Government Policies
Concession on large purchasers of goods and
services.
Subsidies on any select firms and industries.Policies on protection of home producers against
foreign competition.
Any bans on new entrants.
Involvement of government in producing goods.
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Supplier Related Policies:
Suppliers have their own bargaining power in
the industry.
Suppliers influence the cost of raw materialsand other inputs of the firm.
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A
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Marketing Environment consists of
Task environment immediate actors involved
in producing, distributing and promoting the
offering. Viz. company, suppliers, distributors,dealers and target customers.
Broad environment consists of six
components i.e. Demographic, Economic,
Physical, Technological, Political-Legal, Socio-Cultural environment.