MGMA01H3 Chapter Notes - Chapter 3: Natural Environment, Telecommuting, Millennials
Document Summary
Marketing environment the actors and forces outside marketing that affect marketing management"s ability to build and maintain successful relationships with target customers. Marketing environment consists of a microenvironment and a macroenvironment. Microenvironment the actors close to the company that affect its ability to serve its customers the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. Macroenvironment the larger societal forces that affect the microenvironment demographic, economic, natural, technological, political, and cultural forces. Marketing management"s job is to build relationships with customers by creating customer value and satisfaction. Marketing success requires building relationships with other company departments, suppliers, marketing intermediaries, competitors, various publics, and customers, which combine to make up company"s network. Marketing management takes other company groups into account when designing marketing plans. Top management sets the company"s mission, objectives, broad strategies, and policies. Marketing managers make decisions within the strategies and plans made by top management: they must work closely with other company departments.
