Explain How Microenvironment Forces Affecting Marketing

Marketing is about understanding customers and finding ways to provide products or services in which customers demand. Marketing is essential for a business to survive. It covers the four main areas; product, price, promotion and place. The aims and objectives of marketing are firstly to attract customers to the chosen

Marketing is an important tool for any business. It is how a company makes their product known to the public. Without marketing, the consumers will either not know that the product even exists or will not know all the applications of the product; who makes it, what it is and what it is made from, when came on the market, where it can be purchased, how it can help the consumer and why the consumer should even purchase the product in the first place. According to Tom Ash, Marketing is the process whereby demands for products, services and ideas are anticipated, managed and satisfied (2011).

Marketing is one of the most important aspects of a business. According to Peter Drucker “There will always, one can assume, be need for some selling. But the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customers so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be needed then is to make the product or service available.” (Peter Drucker, Marketing Management, Philip Kotler).

Marketing can be defined as communication between consumer and producer (Hackley, 2013, page29). This subject is progressing as

Marketing is a management function which involves creating, communicating and delivering value for an organisation’s customers (Kotler, Brown, Burton, Deans & Armstrong (2010). Although many earlier academics define marketing as merely a process of satisfying customer needs in order to gain profits, more recent developments of the definition include its inherent connection with delivering superior value to customers in order to maintain ongoing relationships (Webster, 1992).

Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others.(Kotler, Armstrong, Saunders, Wong page 5)

Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return .

Marketing is a systematic method to the sale of goods, adopted by any business that not-for-profit with a specific message. Marketing is the sector that are used by marketers so that to satisfy customer needs in ability to generate profits in the company in order to meet the business objective.

According to the Kotler text, marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return (Kotler and Armstrong 5). This definition extends marketing beyond advertising, promotion and selling. Marketing is used to create value for customers and building strong relationships with those customers. If a company is successful in creating value and building strong customer relationships, the company will be able to capture value from customers.

According to Principles of Marketing, marketing environment consists of microenvironment and macroenvironment factors (Kotler and Armstrong 90). On one hand, microenvironment states that a successful marketing requires building relationships with other company departments, suppliers, marketing intermediaries, competitors, various public, and customers. On the other hand, macroenvironment states that there are several opportunities and threats that affect one’s company. These factors include demographic, economic, natural, technological, political, and cultural forces.

Marketing is the process by which companies create value for customers and build strong customer relationship in order to capture value from customers in return (Kotler and Armstrong, 2014, p.27).

Since as we knew marketing came to people’s life in the 1950s and 1960s.With the rapid improvement in marketing, there is an strong argument, which is marketing shapes the needs and wants or marketing reflects the needs and wants of customers. People used to define that marketing is selling goods which people do not really need. However, marketing concept defined as “achieving organizational goals depend on determining the needs and wants of target markets and delivering the desired satisfaction more effectively and efficiently than competitors” (kotler, 2008). International markets are always changing. Facing the challenges of globalization of markets, the economy of regionalization and transnational business, business operators face a

After reading this chapter, you should be able to: describe the nature of the marketing environment explain the distinction between the microenvironment and the macroenvironment discuss the impact of political and legal, economic, ecological/physical environmental, social/cultural and technological

Marketing is the process of identifying, anticipating and supplying customers needs and wants efficiently and profitably. It is head of the pyramid that includes product researching and development promoting, advertisement and sales production and service. Marketing has many benefits some of which are, establishing brand recognition, build authority and credibility, gaining and retaining customers etc. The process or the strategy used to identify consumer's needs and wants is called the marketing orientation, which are the production, product, selling, marketing and societal marketing.

Microenvironment- microenvironment surrounds the factors that are close a company that affects their ability to serve their customers, this would include; Customers, suppliers, competitors, other departments within the company, general public, marketing intermediaries and finally members of the distribution channel. These are all forces that closely influence the company and they have a direct affect on the organizations relationship. The suppliers of a company are a part of the microenvironment as even if there is a slight delay in receiving any supplies off the suppliers can result in the customers not being satisfied. Marketing intermediaries are the people that are helping to promote and sell the companies products. Competitors include companies that are offering the same or similar products, for example; Morrisons, Tesco and Asda are all in competition with each. It is in the company’s best interest to develop a strategic advantage over their competitors, encouraging customers to come to them not their competitors. This would include Tesco giving you vouchers for any price difference with their competitors ( if your total bill comes to more than it would in one of the competitor stores then you are given the