Opportunities in the changing marketing environment

Search goodExperience goodand Credence good There are many ways to classify services. One classification considers who or what is being processed and identifies three classes of services: The classification scheme is based on the ease or difficulty of consumer evaluation activities and identifies three broad classes of goods. Consumers rely on prior experience, direct product inspection and other information search activities to locate information that assists in the evaluation process.

Opportunities in the changing marketing environment

Micro-environment[ edit ] Company aspect of micro-environment refers to the internal environment of the company. This includes all Departmentalization departments such as management, finance, research and development, purchasing, Business operations and accounting.

Each of these departments influences marketing decisions. For example, research and development have input as to the features a product can perform and accounting approves the financial side of marketing plans and budget in customer dissatisfaction.

Opportunities in the changing marketing environment

Marketing managers must watch supply availability and other trends dealing with suppliers to ensure that product will be delivered to customers in the time frame required in order to maintain a strong customer relationship.

These are the people that help the company promote, sell, and distribute its products to final buyers.

Get Started with MGI

They match the distribution to the customers and include places such as Wal-Mart, Target, and Best Buy. Marketing services agencies are companies that offer services such as conducting marketing research, advertising, and consulting.

Financial intermediaries are institutions such as banks, credit companies and Insurance companies. There are different types of customer markets including consumer markets, business markets, government markets, Globalization international markets, and reseller markets. The consumer market is made up of individuals who buy goods and services for their own personal use or use in their household.

Business markets include those that buy goods and services for use in producing their own products to sell. This is different from the reseller market which includes businesses that purchase goods to resell as is for a profit.

These are the same companies mentioned as market intermediaries. The government market consists of government agencies that buy goods to produce public services or transfer goods to others who need them.

International markets include buyers in other countries and includes customers from the previous categories. To remain competitive a company must consider who their biggest competitors are while considering its own size and position in the industry.

The company should develop a strategic advantage over their competitors. Citizen-action publics include environmental groups and minority groups and can question the actions of a company and put them in the public spotlight. Macro-environment[ edit ] The macro-environment refers to all forces that are part of the larger society and affect the micro-environment.

It includes concepts such as demography, economy, natural forces, technology, politics, and culture. The purpose of analyzing the macro marketing environment is to understand the environment better and to adapt to the social environment and change through the marketing effort of the enterprise to achieve the goal of the enterprise marketing.

What About White Label Partnership?

Demography refers to studying human populations in terms of size, density, location, age, gender, race, and occupation. An example of demography is classifying groups of people according to the year they were born.Evaluating Opportunities in the Changing Marketing Environment Know the variables that shape the environment of marketing strategy planning.

2. Understand why company objectives are important in guiding marketing strategy planning. 3. See how the resources of a firm affect the. Business & Franchise Opportunities. Looking to buy a business?

Opportunities in the changing marketing environment

Browse through our collection of franchise opportunities. When choosing a franchise, you want to find a business that produces. Health Nutrition and Home Business: on 7 October , I read an article on “changing the world” and it had a profound effect on me. Over the years I have read and learned so many things in relation to health and wellbeing and my passion and desire has been to help as many people as possible to attain theirs and overcome the obstacles that are put in our way.

Despite the bland physicality of the term “the internet of things,” much of the transformational potential of connecting devices to the cloud comes from blurring the lines around traditional business models and abstracting what it means to make and sell a product.

The retail world—with its razor-thin margins and relentless big bets on fashions, trends and timing—has never been a haven for the faint of heart. Opportunities in the Changing Marketing Environment Essay Lecture-Evaluating Opportunities in the Changing Marketing Environment Now that we understand what the general approach is to pulling together a marketing plan, there are a number of elements that stand out as essential to look at in order to meld it into a workable strategy.

Marketing Process