Importance Of Macro Environment In Marketing

715 Words2 Pages
bulb-icon

Recommended: strategic role of marketing

1. Why is marketing important? it is important because marketing is the one that have an action in doing of promoting and selling products or services. Marketing know how to deal with thier customer needs and they have the strenght to know how their customer can be satisfied to the product they are going to build . According to Theodore C. Levitt a retired professor in Harvard university Marketing is way differ from selling because selling only focus on itselfs and they are formulating techniques for the customer to buy the product while in Marketing they make sure that they are viewing entire business process. Marketing wanted to discover how their customer going to buy their product, how are they going to create the product, how can they arouse the customer and satisfying the customer needs and wants. discover, create, arouse and satisfy the needs of customer. 2. Explain the marketing management process cite examples Marketing management process is a process where setting the business goals formulated in the business. Controlling over the business is also a marketing management process because you have to management well how to control the busineses transaction. Organizing the business is also under the marketing management process because in oraganizing you have to secure all the things that must be settle and …show more content…

Discuss the role of analyzing Macro environment in formulating marketing strategies and cite examples of significant trends in today's macro environment for the service industry. Macro environment includes what trends in todays gross domestic product. macro environment can determine whether businesses will expand in the industry, whether consumers will spend more for their product, whether seniors will have enough for retirement, whether homelessness will going to settle their life and many other. macro environment have to deal through political and social conditions, technological changes in todays world and natural forces that will going to

Show More
Related

  • Macy's Marketing Strategy

    1197 Words  | 3 Pages

    I feel that if a business does not fully understand all that they need to do in the marketing field, they will become behind all of the other businesses in that same market because they will not have enough exposure to keep up with the competition. Additionally, if a company does not understand all of the necessary marketing techniques, they will not be able to gain enough profit to continue their business, which would ultimately lead to the failure of the business. Additionally, marketing is very important because without marketing, many of the successful franchises and large corporations we know today would not have been so successful because they would not have become so popular with not only people nationally, but internationally due to the exposure provided by their marketing agents. In closing, marketing can be the fine line between the success or failure of a business, and whether or not the company franchises or stays

    Read More

  • Allegiant Marketing Strategy

    808 Words  | 2 Pages

    Marketing is that broad area of business activity that directs the flow of services provided by the carrier to the customer in order to satisfy customers’ needs and wants and to achieve company objectives. Marketing is more than selling: it involves a number of business activities, including forecasting, market research and analysis, product research and development, price setting, and promotion, including advertising. Marketing also involves the finance activities such as credit and collection that are associated with ticket sales. Marketing is customer oriented…Without marketing and sales, there would be no airlines. (p. 274)

    Read More

  • Benetton Case Study

    1747 Words  | 4 Pages

    Marketing In this day and age is vital for a company to perform at its possible best. Marketing’s main focus is to give great satisfaction to a customer. There are many aspect of marketing, these aspects give marketer’s the tools to help strive for the best possible success they can achieve. They hope that they can create exposure for their brand, product or service.

    Read More

  • Critical Analysis Of Marketing Strategies

    1162 Words  | 3 Pages

    Marketing is a core pillar of an organization and contribute significantly in its prosperity through attaining the laid down targets as well as scope of development. The position of an organization is hugely based on its competitiveness and capacity to capture a significant portion of the market in relation to the prevailing needs of consumers. Interaction of the organization with the consumers and the potential consumer in the market arena is attained through the marketing wing of the organization (Ferrell& Hartline, 2012). The preferences of the consumer and avenues of satisfaction are aligned to the established marketing frameworks. However, the success of organization marketing is highly inclined to the marketing strategies formulated and adapted towards coping with competition and eventually enhancing firm competitiveness.

    Read More

  • Define Marketing Paper

    1377 Words  | 3 Pages

    Marketing is very important to the success of a business. Before people can buy a product or service they have to know about it. However, marketing entails more than just letting people know what your company has to offer. Throughout this paper, I will define marketing, offering my personal definition as well as more formal definitions from other sources. Furthermore, I will explain to the reader the importance of marketing to organizational success giving real world examples in support of this explanation. The field of marketing can include many things. I believe, however, the most important thing which it should include is communication with customers as to the value and benefits of using that particular company's products and services. It should help to establish the business's niche in the industry and distinguish it from other such businesses.

    Read More

  • Using The 4 Ps To Market Ultimate Fighting

    1277 Words  | 3 Pages

    Marketing is a process of determining a consumer’s needs, devising a product or service to satisfy those needs, and trying to focus customers on the goods and services you are offering. Marketing is extremely important, and a fundamental building block for business growth. A marketing team is given the task of creating customer awareness through a variety of different marketing techniques. If a business does not pay close attention to their consumer demographic and needs, they will eventually fail over time. Two important aspects of marketing include acquiring new customers, and the preservation and growth of relationships with current customers. Marketing has always been viewed as a creative outlet, which encompassed advertising, distribution, and the selling of goods and services. Marketing staff will also try to anticipate what customers will want in the future, often being accomplished with market research. In summation, a good marketing plan should be able to create a favorable proposition or series of benefits that a customer can value through goods or services. The marketing mix is normally described as the strategic positioning of a product or service in the marketplace, using the specification of the four Ps. During the early 1960’s, Professor E. Jerome McCarthy of Harvard Business School stated that a marketing mix contains four elements. The four key points are product, pricing, promotion, and placement. It is recognized that all these aspects must be present to ensure a successful business model within a given industry. We will now take a thorough look at the four marketing mix points.

    Read More

  • Marketing Definition

    959 Words  | 2 Pages

    Every company depends on an efficient marketing program to fulfill customers' needs. Marketing is a process of finding out what the customer wants and meeting those requirements. Within the company, the marketing group has to consider customer values and customer satisfaction before considering offering a product. Marketing is part of our everyday world, and can be perceived everywhere and every time. At any time, everyone has been exposed to different kinds of marketing or advertising depending upon personal necessities such as T.V commercials, radio, internet, etc.

    Read More

  • Marketing In Global Marketing

    1565 Words  | 4 Pages

    In conclusion, it can be said that global marketing has been emerged very rapidly in recent years. It has provided various opportunities for the companies to expand their business to the other regions of the word. However, there remain certain environmental issues that need to be considered before entering in to the desired region. These issues can be resolved with designing the strong global marketing plans and strategies, the data for which can be gathered through conducting global market research. Despite numerous issues, one can easily say that globalisation has reduced the global reach of the organizations as well as customers. It would not be wrong to conclude that

    Read More

  • Marketing Definition

    938 Words  | 2 Pages

    In this paper I will define marketing in my own words and also research what the definition is using two different sources. While supporting my answers with three examples from the business world, I will show the importance of marketing. Marketing applies to many different areas of an organization and after close review I will make it clear on how it relates.

    Read More

  • Importance Of Marketing Communication

    948 Words  | 2 Pages

    According to Kotler (2012), Marketing is about identifying and meeting human social needs, thus it is not only about advertising and promotion it is more than this. It includes setting competitive price, communicating effectively with potential and existing customers and also introduction of new products.

    Read More

  • Marketing Manipulation And Manipulation

    3173 Words  | 7 Pages

    It is not secret that marketing plays one of the key roles of a successful business. As Phillip Kotler said: “Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential”. Simply stated, marketing is everything you do to place your product or service in the hands of a potential customer.

    Read More

  • Marketing Planning

    1984 Words  | 4 Pages

    As shown in Figure 1 there are many different definitions for Marketing. The key is that they all share a common theme, marketing is: “Meeting the needs and wants and providing benefits for customers.”

    Read More

  • Seafood Marketing Plan

    1968 Words  | 4 Pages

    One must look at the economic environment and how it will affect the launch of the product. One must look at:

    Read More

  • International Marketing Essay

    963 Words  | 2 Pages

    ...rnt that marketing can help you to persuade and communicate with customers in order to retain them and make them loyal to the business. Also the foundation on how a business can penetrate in the market with the 4 P’s in the marketing Mix helped me understand that before starting up a business we need to target on the location, people , place and promotion. Marketing has give me knowledge and skills to be innovative and build self confidence in public speaking skills.

    Read More

  • Product Launch Essay

    1564 Words  | 4 Pages

    It involves the vital process of researching, promoting and offering products or services to a company’s target market. Marketing is an important business process where the company can inform, attract and convince people that its products or services are of value to them. Without Marketing, many businesses would be unable to exist or operate well in the market. They could offer the most amazing product or service in the market, but if nobody knows about its existence or understands its value, these companies are unable to make a single sale thus they may have to be out of

    Read More

More about Importance Of Macro Environment In Marketing

Open Document