BMK 201 Lecture Notes - Lecture 3: Australian Dollar, Habitat, Marketing Mix
6 Jan 2021
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Document Summary
Notes understand the importance of different micro environmental factors the micro environment consists of customers, clients, partners and competitors. Marketers must understand the current and future needs and wants of their target market. Marketers that can respond to these trends in order to satisfy consumer preferences will view this as an opportunity and tailor their marketing mix accordingly. In the b2b market, marketers need to be similarly aware of the current and future needs of their target market. Marketers need to understand their partners, how each partner"s processes work and how their partnerships benefit each party. Logistic is the term used to describe all the processes involved in distributing products; it includes storage and transport: financiers. They provide financial services such as banking, loans and insurance: advertising agencies. Small businesses tend to device their own advertisements, often with the help of the publication, radio station or other medium they are advertising with: retailers.
