COMM 223 Chapter Notes - Chapter 4: Visible Minority, Reall, Economic Forecasting

• School: Concordia University
• Department: Commerce
• Course: COMM 223
• Professor: Bonnie Feigenbaum

Document Summary

Marketing environment: the actors and forces outside marketing that affect marketing (cid:373)a(cid:374)age(cid:373)e(cid:374)t"s a(cid:271)ilit(cid:455) to (cid:271)uild a(cid:374)d (cid:373)ai(cid:374)tai(cid:374) su(cid:272)(cid:272)essful relatio(cid:374)ships (cid:449)ith target customers. Microenvironment: the actors close to the company that affect its ability to serve its customers the company, suppliers, marketing intermediaries, customer markets, competitors and publics. Macroenvironment: the larger societal forces that affect the microenvironment demographic, economic, natural, technological, political and cultural forces. Marketing success requires building relationships with other company departments, (cid:449)hi(cid:272)h (cid:272)o(cid:373)(cid:271)i(cid:374)e to (cid:373)ake up the (cid:272)o(cid:373)pa(cid:374)(cid:455)"s (cid:448)alue deli(cid:448)er(cid:455) (cid:374)et(cid:449)ork. In designing marketing plans, marketing management takes other company groups into account groups such as top management, finance, r&d, purchasing, operations, and accounting. All of these interrelated groups form the internal environment. Top managers set the (cid:272)o(cid:373)pa(cid:374)(cid:455)"s (cid:373)issio(cid:374), o(cid:271)je(cid:272)ti(cid:448)es, (cid:271)road strategies and plans. All departments share the responsibility for understanding customer needs and creating customer value. Provide the resources needed by the company to produce its goods and services.