BUS 343 Chapter Notes - Chapter 4: Holt Renfrew, Dollarama, Consumer Privacy

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Marketing environment consist of the actors and forces outside marketing that affect marketing management"s abilities to build and maintain successful relationships with target customers. Study the environment through marketing research and marketing intelligence. The marketing envo consist of a microenvironment and a macroenvironment. Microenvironment consist of actors close to the company that affect its ability to serve its customers (the company, suppliers, marketing intermediaries, customer markets, competitors and publics) Macroenvironment is the larger societal forces that affect the microenvironment. (demographic, economic, natural technological, political and cultural forces) Marketing management"s job is to build relationship with customers by creating value and satisfaction. However, it can do that alone, marketing success depends on the relationships builds with other company departments, suppliers, competitors etc. Finance, top managements, r&d, operations, accounting for the internal environment of marketing. Top managements sets the company mission and strategy and marketers make decisions within these strategies.

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