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Analyze Market Environment
Analyze Market Environment
Managing Market Information
100

What is Macroenvironment

This consists of the larger societal forces that affect the micro-environment

100

What is Micro Environment

this involves the actors close to the company that affect the company's ability to serve its customers 

100

What is the MIS System 

A Marketing Information System is a system that gathers, organizes, and shares information about customers, competitors, and the market environment so a company can plan and serve its customers effectively.


200

List 2 micro environment factors that can affect the company

  • Customers: Their needs, preferences, and loyalty drive the company’s strategies.

  • Competitors: Rival firms influence pricing, product quality, and innovation.

  • Suppliers: Availability and reliability of suppliers affect product quality and delivery.

  • Intermediaries: Distributors, retailers, and logistics partners help connect the company to customers.

  • Publics: Media, local communities, and advocacy groups can shape reputation and customer trust.

300

Give 3 Macro environment factors that can affect the business and explain 

  • Demographic: Population size, age distribution, education levels, and cultural trends influence customer needs and preferences.

  • Economic: Inflation, unemployment, consumer purchasing power, and overall economic growth determine how much customers can and will spend.

  • Natural: Resource availability, sustainability concerns, and environmental regulations can affect production and customer expectations (e.g., demand for eco-friendly products).

  • Technological: Innovation, automation, and digital platforms change how companies deliver products and interact with customers.

  • Political/Legal: Government policies, trade regulations, and consumer protection laws shape what companies can offer and how they operate.

    Socio-Cultural: Shifts in values, lifestyles, and social attitudes (e.g., health consciousness, diversity, inclusivity) influence demand patterns.

400

How do companies react to the marketing Environment

Reactive- Watch and react to forces in the environment.

proactive-Take aggressive actions to affect forces in the environment.

Uncontrollable- React and adapt to forces in the environment.

400

List the parts of the MIS

Internal Records System

  • Data from within the company: sales reports, inventory levels, customer databases, financial records.
  • Helps managers track performance and identify trends quickly.

Marketing Intelligence System

  • Everyday information about the external environment: competitor activities, market trends, customer feedback, industry news.
  • Provides insights into opportunities and threats.

Marketing Research System


    • Formal studies conducted to address specific problems: surveys, focus groups, experiments.
    • Generates deeper understanding of customer needs and preferences.

Analytical Marketing System


    • Tools and models used to analyze data: statistical analysis, forecasting, predictive models.
    • Helps managers interpret data and make strategic decisions.
500

What is the steps in marketing research

1 Define the Problem and Research            Objectives 

2 Develop the Research Plan 

3 Collect & Analyze Data 

4 Report Findings & Take Action