...by Unitedworld School of Business Marketing Environment Name: Lam Chau Tuan (Max) Student ID: 08000 Date of submission: Monday, May 14th, 2012 Word count: 1411. Contents 1.Six environmental forces that can have impact on TV-manufacturing industry: 3 1.1 Demographic forces: 4 1.2 Economic forces: 5 1.3 Environmental forces: 5 1.4 Technological forces: 5 1.5 Political forces: 6 1.6 Cultural forces: 6 2. Opportunities and threats from the external forces: 7 2.1 Demographic forces: 7 2.2 Economic forces: 7 2.3 Environmental forces: 7 2.4 Technological forces: 8 2.5 Political forces: 8 2.6 Social forces: 8 3. Strengths and weaknesses of Samsung 9 3.1 Strengths: 9 3.2 Weaknesses: 10 4. Referencing: 11 1. Six environmental forces that can have impact on TV-manufacturing industry: Environmental forces impact on all the organization operating in a macro-environment in general and the TV-manufacturing industry in particular. They will become either opportunities or threats to the TV industry. Therefore, TV-manufacturers should carefully analyze those forces so as to penetrate into the market. There are six types of environmental forces shown in below figure: Figure 1.Environmental forces (self-created). Figure 1.Environmental forces (self-created). 2.1 Demographic forces: Demographic forces relate to age, gender, race, occupation and other statistic (1). The demographic environment is one of the most important things to the...
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...DEFINITION OF MARKETING ENVIRONMENT. Marketing environment are those are external and internal environment forces which influence the performance of an organization towards customer satisfaction. External Environment * Includes the competition, other rivals, the market conditions, customer's tastes and preferences. The list goes bigger than that. Anything can be included under competition. The existing rivals, the possible rivals, the product group rivals, and alternative products to satisfy that particular need also come under external environment. The government policies including trade policies, restrictions, foreign trade policies also come under this. Availability of raw materials and even the customer mindset at that particular period of time can also be considered a part of the external environment. The broader societal forces that can influence the whole microenvironment, demographic;cultural , economic; natural, and political;technological. Internal Environment * The internal environment refers to the company and its existing products, marketing strategies. It also includes the strengths of the company with regard to manufacturing abilities, distribution capacities, and marketing abilities. Internal resources should also be considered while formulating a marketing strategy. The forces close to the company that directly affect its ability to serve its customers. The firm itself, its marketing channel, customer markets competitors and influential publics...
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...RUNNING HEAD: Marketing Environments Marketing Environments Marla Lundborg American Intercontinental University Marketing Environments Businesses face tough decisions in launching and maintaining a product every day. It seems to be a questions answers game or a what if scenario. Analyzing the market and the environments that affect it is essential to successful profitability. As stated by Armstrong and Kotler, (2009), it’s essential to build lasting relationships with customers, competitors, other companies and external partners, and to do this successfully there must be a strong understanding of the forces that encompass these relationships otherwise known as marketing environments. Marketing environments and knowledge thereof, boosts a company’s marketing plan for max achievement. First marketing environment that would affect a team building exercise course company would be the microenvironment portion of customers. For team building courses, the main drive and contributing force for profit is the customer. The main market that would be detailed with this product would be the business markets, since this product is geared and marketed solely towards business as the customer. Without significant participation from the business markets, this product would not be valuable or utilized; after all it is geared towards increasing employee productivity in the workplace. The customer being this driving force is also the greatest asset in marketing a product; they are...
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...5/3/2014 Topic Outline MARKETING ENVIRONMENT Principles of Marketing Lecture 2 Scanning the marketing environment Components of the marketing environment. Impact of the macro-environment. Impact of the micro-environment. Marketing Environment • Scanning the Marketing Environment Companies scan the marketing environment in order to change and adapt their marketing strategies – as it provides opportunities and threats. In doing this companies must be proactive, It is pointless to conduct environmental scanning unless marketing strategies are changed to fit with the environment. A company’s marketing environment consists of the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers. 1 5/3/2014 Components of the Marketing Environment Macro-environment Micro-environment Macroenvironment: Demographic Changing age structure of the population Changing family structure The larger societal forces The forces close to the that affect the whole company that affect its ability to serve its customers: microenvironment: Political Company Economic Competitors Demographic Suppliers Cultural Marketing Intermediaries Technological Customers Natural Publics Increasing diversity Better-educated, more white-collar, more professional population Geographic shifts in population Macroenvironment: Demographic Demography: The study of human population in terms of...
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...The Marketing Environment With the advancement of the development of technology and ideology in the modern society, sales increase for most businesses in various fields is no longer just to promote products in exchange of money. In order to aim at having more market share in the today’s world, many companies, especially multinational corporations, are going to expand their businesses with more complicated and scientific analyses and researches. Therefore, market strategies are introduced and widely used by today’s companies. However, in order to survive and even better develop their businesses, it is necessary for companies to have a good understanding of their position in the market environment, and the impact of the changing market environment on themselves. Often times, the right marketing strategies are formulated based on the good knowledge of the current marketing environment, and the relative aspects that influence them. According to the concept of Principles and Marketing, a company’s marketing environment refers to the participants and forces out of marketing who influence the marketing management in establishing and maintaining successful relationships with target customers. Marketing environment consists of two factors, one is microenvironment, which includes the actors close to the company who influence the company ability to its customers, such as the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. The other is macroenvironment...
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...1) Macro environmental analysis Macro analysis is also known as PESTEL analysis which stands for- Political factors Economical factors Social factors Technological factors Environmental factors Legal factors Political factors The business operation of an organization is always influenced by the policies of state and its government. McDonald’s business is also under the control of government’s rules and regulations. The main issue of controlling food business is health and other issues are license, employee laws, tax issues etc. McDonald’s follows the local government’s policies as well as foreign investment policies on its franchise business strategy. Political instability of local state also affects McDonald’s business. Political factors The business operation of an organisation is always influenced by the policies of state and its government. McDonald’s business is also under the control of government’s rules and regulations. The main issue of controlling food business is health and other issues are license, employee laws, tax issues etc. McDonald’s follows the local government’s policies as well as foreign investment policies on its franchise business strategy. Political instability of local state is also affects McDonald’s business. Economical factors Economical factors always come as vital issue to business organisations. For example, more or less all companies are affected by ongoing global economic slowdown. Due to international business operation, McDonald’s...
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...REI Marketing Environment Worksheet List the current characteristics of each environmental factor as they relate to REI. REI is a specialty retailer whose product line focuses on equipment and materials for the outdoor recreational enthusiast. They carry nearly everything one needs to enjoy the outdoors comfortably and effectively. Shoppers will find that they can purchase everything from tents, sleeping bags and camping equipment to specialized clothing to mountain bikes, kayaks and climbing equipment. REI’s product line includes gear of the quality that serves both the weekend family camper and the serious climber or cyclist. REI’s pricing is reasonable and will accommodate various income levels. In addition to the product lines, REI has a travel service that arranges unique and challenging adventures in exotic places such as Austria, Kilimanjaro and Botswana, and even Antarctica. One can explore these regions by foot, bike, rail or boat. Their group focus ranges from families to women only to birding to volunteer vacations with the American Hiking Association in which one can spend their recreational time helping to build or maintain hiking trails in sometimes remote areas. REI’s company information includes an encouragement to “join our winning team” and states that they have been chosen as one of Fortune’s “100 Best Companies to Work For” in 2005. They speak of themselves as a consumer cooperative with more than 2.4 active members. In general, they portray a corporate...
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...REI Marketing Environment Worksheet List the current characteristics of each environmental factor as they relate to REI. U.S. Economy How does the current U.S. economy affect REI retail operations? 1. If the country was in a depression that would affect REI retail operations. People would begin to adjust their spending habits and would cut back on buying items that they don’t necessarily need such as a vast array of REI products. This would decrease REI sales which in turn would decrease revenue. 2. An economic downturn would not only affect retail operations it would potentially cost employees their jobs, or at the very least they would have to take pay cuts in order for REI to stay alive while the economy recovers. Global Economy How does the current global economy affect REI retail operations? 1. One example how the global economy would affect REI retail is if their products were purchased from overseas distributors and the currency values were to increase. REI would have to raise the purchase price of their products in order to turn a profit. The risk of doing that would be losing customers because they are charging more then consumers can afford or the consumer feels they can get a better price with REI’s competitors. 2. REI has joined other business to assist in banning and eliminate fair labor violations. Fair labor is an important issue. Everyone wants to be treated fairly in every aspect of business. REI joining along side of other business to...
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...2014 Topic: Chapter 3: Analyzing the Marketing Environment Subject: Marketing Management Prepared by: Joel Gapit Cañon Professor: Dr. Antonio S. Valdez ------------------------------------------------- MBA School Year: 3rd Semester2014-2015 Learning Objectives: (2nd part allocated reports / continuation) * Identify the marketing trends in the firm’s natural resources and technological environments. * Explain the key changes that occur in the political and cultural environments. * Discuss how companies can react to the marketing environment. ------------------------------------------------- Natural Environment –involves natural resources that are needed as inputs or that are affected by marketing activities. Natural resource economics focuses on the supply, demand, and allocation of the Earth’s natural resources. Its goal is to gain a better understanding of the role of natural resources in the economy. Learning about the role of natural resources allows for the development of more sustainable methods to manage resources and make sure that they are maintained for future generations. The goal of natural resources economics is to develop an efficient economy that is sustainable in the long run. Importance of Environment This diagram illustrates how society and the economy are subsets of the environment. It is not possible for society and economics systems to exist independently from the environment. For this reason, natural resources economics...
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...The Marketing Environment is Multifaceted 1. INTRODUCTION A firm needs to have extensive knowledge on what is going on around them to enable them to make the correct decisions in day-to-day activities. This means they need to know what is going on in the marketing environment (Adcock et al, 2001).The marketing environment is all the factors and forces outside the marketing department that would affect the mangers decisions. It is split into 2 sections: The Micro-environment and the Macro-Environment. These factors can bring opportunities or threats hence why managers need to ensure they are aware of them to ensure the company maximize sales and doesn’t go out of business (Baines et al, 2008). The main purpose of this report is to analyse how the Premier Inn marketing strategies relate to the current macro-environment. To enable me to critically analyse this I have taken the 3 forces; Economical, Technological and demographic. Firstly however I will review the theory on this topic. 2. MICRO-ENVIRONMENT The micro-environment forces can be summarised as the forces that directly affect the business (Armstrong et al, 2009). Evan’s (1988) believes that as they are directly affecting the business, they are much easier to identify than macro-forces which are ‘knock on effects’. The common micro-environment factors are: other departments (within the company), suppliers, marketing intermediaries, customers, competitors and public (Armstrong et al, 2009). The company will...
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...Marco Marketing Environment Analysis There are government regulations and legal issues in political factors. This aspect is important because the stability of political in Finland could affect the whole industry. Finland is one of members of World Trade Organization (WTO), where the country offers large free markets. These large free markets operate without taxation in import as the transactions are based on negotiation and agreement. With this, it will be a great opportunity for Oldtown White Coffee to expand their business in Finland’s market and make a profit out of it. Economics Economic factors affect the purchasing power of consumers and the firm’s cost of capital. The Gross Domestic Product (GDP) in Finland contracted at an annual rate of 0.40 percent in the last reported quarter. Based on statistic, from 1975 until 2010, Finland's average quarterly GDP Growth was 0.56 percent reaching an historical high of 5.00 percent in September of 1980 and a record low of -5.30 percent in March of 2009. Wages and salaries of worker in Finland increase 5.5% of national income from year 2005 until 2009. Finland has continues to attract foreign investment due to its economic success. With the strong economic status, Finland is surely suitable country for Oldtown White Coffee to expand their business. Social-Cultural Social factors are very important because they can easily affect the consumer needs and the size of the potential markets. One of the social factors is the cultural aspects...
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...Prince Sports: Challenges in The Marketing Environment Brittany Pimpinella Empire State College Abstract Prince Global Sports started out as an unintentional creation of an oversized tennis racquet that Howard Head created all because the thought of simply larger tennis racquet because the game of tennis was too complex to him. His creation launched a money making company later to be known as Prince Sports INC. This company had grown so much they expanded into the footwear, tennis gear, running gear, accessories, sports bags and many more products that had competitors leaving the market. Prince had learned that creating items and selling them wasn't as easy as it was thought out to be, the constant struggle of needing newer product, better marketing skills, and finding loyal consumers were all challenges he faced. Luckily, Prince’s marketing team was able to reach out to the right consumers that had that annual making 64 million in revenue, but only for so long. Prince Sports: Challenges in The Marketing Environment All type of businesses face unique challenges. It is almost impossible to start launch a business correctly without time, effort, and dedication. A business is not built in a day neither is the workers nor product. Most business owners just have the desire to own a business not the drive to do so. They must find a way to start their business off right, by gathering their thoughts. Buying a franchise, an existing business, or looking to others for...
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...Research Topic: Physical Environment as a Marketing Tools Affecting the Customers’ Attention Towards Restaurant. Broad Problem Area: Currently many restaurants in Jakarta are featuring the physical environment instead of the taste of the food. Research Objective: To prove how affective is physical environment as a marketing tools to restaurants in Jakarta. Research Questions: * What kind of physical environment are the customers looking for? * Does taste of the food or physical environment become priority for a customer to visit? * Are customers willing to spend money for good physical environment regardless the food taste? Key theory useful for this research topic: * Service marketing * Service environment (ambient factors) * Brand image * Core purposes of service scape Key concepts from literature: * Ambient factors affecting the customers’ psychological - People are part of the service marketing Introduction The restaurant industry is one of the forms of economic enterprise that has a good prospect. According to some competent authorities states that successful efforts in the area of food and beverage service is not only determined by the number of visitors, but is also determined by the capability of increasing the growth of its customers. Many factors...
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...Xerox: Adapting to the Turbulent Marketing Environment Q1 & Q2.) What microenvironmental/macroenvironmental factors have affected Xerox’s performance since the late 1990s? For many decades after its inception Xerox as a company faithfully understood its own identity, and was highly successful in the photocopying industry that it created. Around the late 1990’s a shift in the industry began to occur, as business transitioned away from the need for exclusively physical copies of documents, moving many of these files into digital databases. The internal culture of Xerox did not entirely comprehend the implications of these changes as they began to occur and subsequently did not adapt to meet their clients new needs fast enough. The resulting aftermath was that Xerox’s market capitalization fell dramatically, from an exceedingly valuable business just a few years earlier, to the point where the business was on the brink of bankruptcy. To combat the rapid decline of profitability, the internal environment of the company needed restructuring, and the focus of the entire organization was required to change. The workforce was nearly halved to 55,000 people resulting in a return to profitability within a reasonable timeframe, and concurrently a new direction was identified. Xerox acknowledged the needs of their customers in adopting their new document management and services focus, much of this approach involved delivering more value to their customers by reducing the cost of consolidating...
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...Objective of the Assay: Impact of Macro environment forces on the components of the core marketing system. I have defined some objectives in this assay: • To define Macro Environment. • Classification of Marketing Environment • Elements of macro environment • Impact of macro environment on marketing system. Macro- Environment: A factor that influence a company's or product's development but that is outside of the company's control is known as macro environment. The company and all of the other actors operate in a large macro environment of forces that shape opportunities and pose threats to the company is known as macro environment. Six largely uncountable external forces influence an organization’s marketing activities and shape opportunities is known as macro environment Forces. These factors include the economic, demographics, legal, political, and social conditions, technological changes, and natural forces are known as macro environment. Elements of Micro-Environment: Demographic Environment Demography is the study of human populations in terms of size, destiny, location, age, gender race, occupation and other statistics. The demographic environment is of major interest to marketers because it involves people. Economic Environment Marketers require buying power as well as people. The economic environment consists of factors that affect consumers’ purchasing power and spending power/ patterns. Marketers...
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