How Factors in the External Business Environment Influence Marketing Strategies and Outcomes

Gambling is becoming increasingly popular in today’s society. Major casinos and online gambling sites attract

The American Marketing Association defines marketing as "an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders". (2005) Simply put, marketing is the process by which businesses assess the needs and desires of consumers in order to provide products and/or services to meet those needs in the most efficient and cost effective manner. Truly effective marketers do market research in an effort to understand their target market and create marketing strategies based on the characterization of those in the target area.

Marketing- Infilling a market lead ethos thought out, researching on external opportunities to understand current and potential customers, developing the marketing plan and strategy. Managing budgets and market success.

In the context of global expansion and competition of numerous businesses, effective marketing management is one of the key factors of success, playing an essential role in obtaining competitive advantage. Hence, the success of a company is determined by its ability to identify customers’ needs and offering products and/or services to satisfy them.

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).

Individual Assignment 1: Using a company that you are familiar with, explain how factors in the external business environment influence marketing strategies and outcomes

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).

One important way Harrah’s utilized DBM was by analyzing customers using a method called opportunity-based segmentation. When customers began to use their loyalty cards, they started to leave behind a digital trail of every type of gameplay activity they engaged in while gambling at Harrah’s. This enabled aspects like betting patterns, play preferences, where they frequently ate at the casino, how often they bought a hotel room, how often they visited, how much money they played, and how long they played to be tracked and monitored by the marketing department. This information, coupled with basic client information like name, address, phone number, and birthdate, gave Harrah’s the opportunity to create intricate customer profiles.

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).

Marketing is perhaps the most important activity in a business because it forms the communication bond between the customers and the company, and it’s a key aspect of communicating the value of the product.

Founded back in 2006, Betsafe is a Bettson owned brand that now has over a decade of experience under its belt. Like a lot of its competitors, this online casino has Swedish roots and while not being the flashiest name on the market, it seems to be bringing punters enough when it comes to game selection, bonus offers, and customer support to command attention. What’s expected of Betsafe these days probably isn’t the same as it was a few years ago, as the platform is hardly a fresh face on the scene anymore. Recognised as an industry veteran, in our experience Betsafe provides a solid - yet fairly unspectacular - online casino experience.

Marketing is an essentially about marshalling the resources of the organization so that they can meet the changing needs of the customers on whom the organization depends. As a verb, marketing is all about how an organization addresses its markets. Marketing is “The management process which identifies, anticipates and supplies the customer requirements efficiently and profitability”.

While the total number of gambling enterprises has fallen in recent years the overall number of people employed in the industry has increases, suggesting that enterprises are now larger than they were a decade ago. The way people bet has been revolutionised of recent years with the online gambling industry taking over the

As previously mentioned, marketing plays an important role in any company because it reaches the ultimate consumer and targets relevant segments of the market. “Marketing is not a function of business, it’s the function of business” (Moorman & Rust, p. 180). It also evaluates

Marketing's role is to match the capabilities and resources within the organisation with market opportunities external to the organisation. Understanding customer needs is central to achieving this aim, but marketers must also be aware of factors that can cause customer needs to evolve. A change in customer needs will impact upon the organisation's ability to serve its customers. This means that marketers have to be knowledgeable about what is happening in the external environment, or macro environment.