Environmental Analysis

Environmental analysis is a strategic tool. It is a process to identify all the external and internal elements, which can affect the organization's performance. The analysis entails assessing the level of threat or opportunity the factors might present.

Environmental scanning is the acquisition and use of information about events, trends, and relationships in an organization's external environment, the knowledge of which would assist management in planning the organization's future course of action.

The Marketing Environment

The market environment is a marketing term and refers to factors and forces that affect a firm's ability to build and maintain successful relationships with customers.

Environment offers both opportunities and threats

Marketing Environment includes:
• Micro-environment
• Macro-environment

Marketing mix: Promotion and Place

Promotion involves communication and inducing people to buy a product. It consists of public relations, advertising, sales promotion and personal selling.

Place in the marketing mix refers to the channel, or the route, through which goods move from the source to the final user. Place could be the intermediaries, distributors, wholesalers and retailers.

Marketing mix: Price

Price is the quantity of payment or compensation given by one party to another in return for goods or services

Fixing a good price is vital component in the marketing mix.

It is the only P in the marketing mix that generates revenue.

Marketing Mix: Product

Product mix refers to the set of product lines and items that a particular seller offers for sale. For example Samsung's product mix includes mobile phones, netbooks, tablets, televisions, fridges, microwaves, printers and memory cards.

Marketing Mix

This refers to the set of marketing tools or ingredients that firm uses in order to achieve its objectives in the target market.

Traditional 4Ps extended to encompass growth of service industry.

4Ps extend to 7Ps: Product, price, promotion, place physical Evidence, Process and People.

Market Research

This can be defined as the systematic collection, analysis and interpretation of data relating to demand for a good or service in a specific market, competitors and the market.

Market segmentation, Target market and Market growth

A market segment is a sub group of a whole market in which consumers have similar characteristics.

This refers to the process of dividing the whole market for a product into sub identifiable markets with the aim of reaching such groups with a particular marketing mix

Marketing: Introduction

Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return.



Marketing is the process of researching into and identifying consumer needs and employing appropriate product, price, place and promotion strategies in order to satisfy these need profitably.