What is the internal environment in marketing? The internal environment in marketing refers to components INSIDE the firm that are unique to the firm. An analysis of the internal environment is critical in the development of marketing strategy to ensure to ensure that the firm’s strategy is based upon its situation, resources and goals. Firms … Read more…
The three components of the marketing environment The most appropriate marketing strategy for an organization will depend upon the marketing environment in which it operates. There are three broad categories of the marketing environment, which are: The internal environment, The micro environment, and The macro environment The internal environment The internal environment refers to the … Read more…
When studying consumer behavior and/or the marketing environment, the concept of age cohorts is often discussed within the marketing textbook. Age cohorts of very large groups of populations that were born in the same time – usually within the same 10 or 20 year period. The broad thinking is that they are somewhat influenced in … Read more…
Let’s evaluate the key differences between the evolving IMC definitions to understand how the perception and role of integrated marketing communications has progressed. Broader than just consumers The audience is much broader than just consumers. While communicating to consumers obviously remains very important and probably the focus of communication for most firms – firms … Read more…
The changing media environment The process of communicating in marketing is far more challenging in today’s environment due to the complexity of media choices and the interaction between consumers and the resultant effect on consumer shopping behavior. In the “old days”, a firm’s promotional mix was almost exclusively made up of its sales function … Read more…
What are the extra communication challenges faced in today’s media environment? As a quick list, today’s media and communication environment as the following impact on marketers, each of which will be discussed below. Less control of message Need more variety of communication tools Need to be more entertaining Use of social media Comparison sites, … Read more…
Why are firms becoming more socially responsible? In recent years, there has been a trend, particularly among large organizations, to adopt a more socially responsible approach to their business activities. In various marketing textbooks, this concept is usually explored when discussing marketing ethics and the role of a company in the overall market place. … Read more…
When you study marketing you learn about some companies that also have goals to ensure that they adopt a corporate social responsibility position. These types of companies focus on both the short term and long term effects of their marketing process and seek to have corporate social responsibility and sustainability as an important priority … Read more…
