Marketing Environment Flashcards
two types of marketing environment?
Micro environment
macro environment
Process of assessing and interpreting the gathered information
Environmental Analysis
defined as the nearby environment under which the firm operates
Micro
COSMIC
mICRO
COSMIC means?
Competitors
Organization
Suppliers
Market
Intermediaries
Customers
Specific nature of environment
Micro
Controllable to some extent only
Micro
Has direct influence and regularly
micro
General environment that can affect the working of all business enterprises
Macro environment
PESTLE elements
Macro
PESTLE means?
Political
Economic
Socio-cultural
Technological
Legal
Environmental
General nature of elements
Macro
No controllable factors
Macro
Has indirect influence and disantly
Macro
Three types of trends
Fad, Trend, Megatrend
Unpredictable, short-lived and without social economic and political significance
Fad
direction or sequence of events that has some momentum and durability
Trend
Large social, economic, political, and technological changes that are slow to form and influence us for quite some time
`Megatrend
