The Marketing Macroenvironment Essay Example | Topics and Well Written Essays - 1500 words

The Marketing Macroenvironment - Essay Example This is defined as one of the central ideas and concepts of marketing (Moore and Pareek 2006). But what is marketing exactly? Well, for one, marketing as a word has many definitions. For the common and layman’s terms, it is associated with selling or advertising. However, it has more meanings to it than that. For one, it is the process of creating, distributing, promoting and pricing goods, services or ideas in order to foster a satisfying relationship between manufacturers or other sources of goods, and the customers (Pride and Ferrell 2012). Also, one of its goals is to maintain this relationship as favorable as possible in order to facilitate more exchanges, not just with the buying customers but also other stakeholders as well, This would include other people that may not be necessarily buying the goods or services, but have financial input in the product or firm. This may also include people that do not have any direct interaction with the company itself, but may have pot ential as customers or stakeholders in the future. Another definition of marketing is defined by the American Marketing Association in 2005 as: â€Å"an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders† (Ries and Trout 2006). Also, in the realm of marketing, it is said that the customer holds the key as to whether the company or firm would be able to thrive or even become successful in terms of profits and development. Therefore, in order to become successful, a firm or company must be able to give satisfaction to their customers, and this lasting positive relationship between them would define the company as a whole (Silk 2006). The whole concept of marketing has many aspects as well as other deciding factors in the course of action of a firm or company. These would very well depend on the marketing environment. It is defined as the environment surrounding a company and its organization which can have an effect on its profits or even its reputation (Petzer, et al. 2006). For example, in the law of supply and demand, if there is low supply and a large demand, all competing companies would have a chance to create relationships to all customers, and by creating better services than the competition would make the company successful. However, if there is a large supply coming in from different competing groups of companies, the competition would be tougher since there would be more opponents to face, as well as the large market being divided among the competitors. Thus, being able to stand out among the rest would really make or break the company as a whole, as compared to only having a few competitors at hand (Petzer, et al. 2006). The marketing environment also has different factors that can affect it. These can be either be the microenviroment or the macroenvironment. The microenvironment is found in the company organization itself. The influence of the organization