Macro Environment: The Marketing Environment

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The Marketing Environment

Nowadays, every marketing is surrounded by an environment, which has the direct or indirect impact on each other. This environment is made of all those factors- the internet as well as external that are somehow related to organizational functioning.

How to do Marketing Environment Analysis?

It is the accessioning of opportunities and/or threats that are present in the environment and can significantly affect the business organization. Environments can significant affect the business organization. A firm gathers relevant information relating to the environment studies them in details, takes note of changes in each factor that constitutes the environment and forecasts the future course of action for the organization.

Elements of Marketing Environment

Macro Environment:

It is an environment that has an indirect influence your business and these environmental factors are uncountable by the business.

  • Demographic environment: Demographic attributes of the people who are related to the organization. These can be age, sex, marital status, education, income, occupation, and language etc.
  • Economic environment: Supply of natural resources, level of income growth, natural production and national income, level of consumption, size of market, balance of payments of the nation, monetary structure, foreign trade, inflation, etc
  • Socio-cultural environment: Every society is related to different social classes, different castes, cultures, values, and beliefs, lifestyle, family structure, people’s attribute towards work and life, consumption patterns, etc. These factors directly affect the demand for the goods in the market.
  • Political - Legal environment: Developments on the political front governs the economy of the nation. Legislation regulating the business are the also often a product of the political configuration. Tax laws, EXIM policy capital flow restrictions, foreign trade, liberalization are the political factors impacting any organization.
  • Technological environment: Any organization, which exists, needs to have technology support in the form of hardware, software and IT enabled services.These are very crucial for the effective and efficient functioning of the organization in the fast pace business environment.
  • Ecological Environment: To protection to our environment, main issues are resources depletion, pollution concerns, and health issues.

Micro Environment

  • Consumers: Tastes, Habits, Product or service Preferences.
  • Suppliers: Bargaining power for the raw material, machine.
  • Bankers and Creditors: For financing the business.
  • Competitors: Playing in the industry.
  • Market demand: Total demand of the individual customers
  • Logistic Support: Transportation of raw material and finished goods.
Internal Environment
  • Machinery
  • Employee
  • Assets
  • Company policies and procedure

Types of Marketing

  • Viral Marketing: Viral mean something spread in very shorter time such as a virus. Means any message should reach millions of viewer/follower in 2-3 days. A viral marketing also called motion, buzz and wildfire and flood-marketing.
  • Green Marketing: Green Marketing is the marketing of products and services that are environmentally safe and It should be eco-friendly benefits.
  • Social Media Marketing: It is the kind of promotion on social media platform such as Facebook, LinkedIn, and Twitter etc.
  • The Internet or Digital Marketing: It is the kind of promotion online and digital platform such as Desktop and mobile etc.
  • Industrial Marketing: It is B2B marketing such as one business to another goods and services.
  • E-commerce Marketing: Developing, marketing, selling, delivering, serving and playing for products and services transacted through the internet, e-commerce broadly includes the following.
  • Relationship Marketing: Relationship marketing aims to build a mutually satisfying long-term relationship with key communications in order to earn and retain their business.
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