Marketing Management Identify and describe the main componen

(Marketing Management)

Identify and describe the main components of a company\'s Marketing Environment. Explain with the help of your own where you work or any organization

Solution

Marketing environment is a force that has a direct and indirect influence on the organization\'s capability to undertake a business. The marketing environment is composed of Internal and External environment.

The micro or the Internal Environment: A micro environment is a force that affects the marketing operation from within the company. It is composed of the internal stake holders and the other functional areas that are directly linked with the business organization. The main factors that contribute the Internal factors are Men, Machinery, Materials and Markets.

The above given factors are directly linked to the Human Resource department, the operations department and the accouting/Finance department and the R&D department. The internal factors and departments should be responsible for allocation of responsibilities and allocation of resources.

They should also ensure the resource availability. The culture of the organization and the attitude of the internal stakeholders play a very important role in determining the maketing environment of the organization.

The Macro or the External Environment: A macro environment is composed of the factors that affect the progress of the business externally. The external factors are Political factors, economic factors, Technological factors and Socio-Cultural factors.

A business can be affected by the various external factors like the political scenarios of the company that it operates or intend to do business with. These will be attributed by the economic factors of the country from which the business is operated and the country in which the business is operated. The technology is another important factor which will have a direct influence on the business. The country should be technically well-developed. These factors play a very important role in determining the exact marketing environment for a business.

In our organization the marketing environment is broadly based on the following internal and external factors:

Company Introduction:

We are an ITES (Business Process Outsourcing) based organization that gives service to offshore clients. Our business is mostly Service-on-Demand. Our clients approach us with their requirements and we serve them with our service. The various Internal factors that affects the marketing environment of our organization are as follows:

Internal Factor – Micro Environment:

Clients sometimes will usually approach us with small requirement but there are instances where we are flooded with orders and are asked to execute the same in minimal time. In this case the Human Resource Department will be responsible for supplying the people at the right time. If they fail to give people for production then the whole project will collapse or will be delayed. This will cause a turbulence in the system and affect the marketing environment. This will further influence the cordial relationship with the client and the client may not come back to us for any further major projects.

These are some of the internal factors that will affect the marketing environment of the organization.

External Factor – Macro Environment:

The turbulence in the economy of the country in which the business is done is a major issue. Say for example a third world country does business in Europe which is well developed. Now if there is a sudden slow down in the economy of the European country due to political and economical factors then this will cause a major effect on the country which does business with the European country.