MGMA01H3 Lecture Notes - Market Segmentation, Telecommuting, Competitive Intelligence

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Marketing environment: actors and forces outside marketing that affect marketing management"s ability to build and maintain successful relationships with target customers. Marketers have two abilities: have disciplined methods (marketing research and intelligence) for collecting information about the environment, and spend more time in customer and competitor environments studying environments, can adapt their strategies to meet new marketplace demands. Microenvironment: actors close to the company that affect its ability to serve its customers ex. company, suppliers, marketing intermediaries, customer markets, competitors, and publics. Macroenvironment: larger societal forces that affect the microenvironment ex. demographic, economic, natural, technological, political, and cultural forces. Marketing management"s job build relationships with customers by creating satisfaction and value. The company top management set broad strategies and marketing managers make decisions within the strategies and plans. Suppliers important link in company"s overall customer value delivery system supply shortages/delays/labour strikes can cost sales, damage customer satisfaction.