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Responding to the market Environment
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Uncontrollable
- React and adapt to forces in the environment
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Pro-Active
- Take aggressive actions to affect forces in the environment
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Reactive
- Watch and react to forces in the environment
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Macro-Environment
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Demographic
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Populations, size, density, location, age, gender, race, occupation, changing age and family structures, geographic population shifts, educational characteristics, and population diversity.
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International, National, Ethnicity, Gay and lesbian, Disabled
- Baby Boomers – born 1946 to 1964
- Generation X – born between 1965 and 1976
- Millennials – born between 1977 and 2000
- Generation Z – born after 2000
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Economic
- Offer value marketing which involves offering financially cautious buyers’ greater value—the right combination of quality and service at a fair price. With regards in mind a proper fair income distribution should be taking place in the company.
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Natural
- Developing strategies that support environmental sustainability because of growing shortages of raw materials & Increased pollution. (Green Movement)
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Technological
- Factor of change in any marketplace where it opens endless opportunities for advancement with new products & ensuring safety.
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Political
- Covering all CSR components in all activities by ensuring the business is following regulations and right practices to avoid prosecution or putting their brand at risk.
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Cultural
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Cultural, (social responsible) forces that affect a society’s basic values, perceptions, and behaviors.
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Core Beliefs and Values
- Persistent and are passed on, reinforced by surroundings.
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Secondary beliefs and Values
- Open to change and personal view
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Micro-Environment
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Company
- Everyone in the company needs to concentrate on all marketing activities. Marketers must work in harmony to create customer value and relationships
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Suppliers
- Creating value for customers, Marketers must partner with other firms in the company's value delivery work
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Marketing Intermediaries
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Marketing intermediaries, promote, sell, and distribute goods to final buyer.
- Resellers – RADIOSHACK, COMPUME, TRADELINE
- Physical distribution firms (warehouse markets) – CARREFOUR, SPINNEYS
- Marketing services agencies- MARKETING AGENCIES
- Financial intermediaries- BANKS
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Competitors
- Know all about your competitors offerings and gain strategic advantage against competitor offerings in the minds of consumers.
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Public
- Potential interest in or impact on an organization’s ability to achieve its objectives: media agencies, tv programs.
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Customers
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Customers, aim of the entire value delivery system is to serve target customers and create strong relationships with them.
- Consumer Markets
- Business Markets
- Reseller markets
- Government Markets
- International markets