Marketing Environment

Strategic Marketing Planning

What is strategic marketing planning????? Stream of decisions and actions that leads to effective strategies and which, in turn, help the firm achieve its growth objectives Fluctuating environment makes strategic planning an indispensable task for the business firm
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Component Tasks in Strategic Planning

Clarifying the mission of the corporation Defining the business Surveying the environment Internal appraisal of the firm Setting the corporate objective Formulating the corporate strategy
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Surveying the Environment

Environmental survey forms a vital part of strategic planning. Helps in formulation of strategies in line with the opportunities and threats emerging in the environment.

Analyses macro environmental factors (demographic, socio-cultural, economic etc.) as well as micro factors (environmental factors that are specific to business concerned) Developing Opportunity-Threat profile(O-T profile), it contains the information in such a way that one can readily understand the impact of the environmental trends on the firm

MARKETING ENVIORNMENT
The actors and forces that affect a firms ability to build and maintain successful relationships with customers.

Marketing Environment Analysis

Process of gathering, filtering and analysing information relating to the marketing environment
Tasks Involved : Monitoring the changes taking place in the environment Forecasting the future position in respect of each of the factors Spots the opportunities and threats in the environment, and pinpoints the ones that are specifically relevant to the firm.

Why analyse the Marketing Environment?

Knowledge of Marketing Environment is central to Marketing Management Securing right fit between environment and the firm Strategic response to Environment is possible only with proper Environmental Analysis Strategic response to the changes taking place in environmental factors Spotting the Opportunities and Threats Finding out the different opportunities and threats in the environment
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Types of Marketing Environment

Companies interact with three types of environment: Micro Environment Companys suppliers, Customers, Marketing intermediaries and Competitors. Macro Environment Made up of wider forces like demographics, economics, nature, technology, politics and culture, that affect demand for a companys goods. Internal environment All factors that are internal to the organization like Men, Money, Machinery, Materials and Markets
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SWOT Analysis
Overall evaluation of a companys strengths, weaknesses, opportunities and threats

External Environmental Analysis (Opportunity and Threat Analysis)

Monitors key macro environment forces and significant micro environment actors that affect its ability to earn profits Internal Environmental Analysis(Strengths and Weaknesses Analysis) Needs to evaluate the internal strength and weaknesses of the firm
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Products

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Strengths
iTunes Music Store is a excellent source of revenue, especially with the iPod and the accessibility on Windows platform. Apple Computer are expert in Developing own software and hardware.

Web technology are used to improve product awareness and sales.

Apple Computers have good brand loyalty. Partnership with Intel Computers in 2006 Present. Research & Development Department.
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Weaknesses
The product life cycle of Apple products are very small for that reasons revenues are more depend on launch of new products and services. Slow turn around on high demand products. Apples market share is far behind from major competitor Microsoft.

In past the relationship between Steve jobs and employee were not good which result in reputation loss.
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Opportunities
Increase in worms and viruses on PCs so the antivirus solution can be developed by Apple. Large population which are extremely individualistic and name brand conscious.

Downloadable music and MP3 players are highly marketable.

The online sales of computer are increasing with rapid speed. The laptop market growth is high; Apple Computers should focus to develop new models to cater the need of customers.
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Threats
Companies not seeing Apple as compatible with their software. Apple facing strong competition from Dell, HP, Sony and Toshiba in laptop segment. Downloading free music from other online source without paying cost is common it may impact the iTunes sales. Apple software, Cell phone and hardware are expensive as compared to other competitors such as Dell. The long lasting recession may impact the sales of the company due to higher prices of the products and services Microsoft launched Microsoft Vista, Windows 7 which is gaining market share.
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The switching in technology is very fast.

Conclusion
Environment Analysis should be continuous , else the firm will not be in a position to respond properly to the changes taking place in the environment.

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HAVE A NICE DAY

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