Marketing

Assessment Revision and Questions

Identify three key areas of the marketing concept?

Customer focus – ensuring customers are satisfied by continuous research to ensure understanding of customers needs (4Ps )

Integrated effort - customers are the focus of all departments and people within an organisation. Once this is achieved it becomes easier for keep customers satisfied Goal achievement – corporate goals are achieved through satisfying customers. These goals can include ethical and moral achievements e.g. Fair treatment to workers etc
All important as satisfied customers will return

Discuss why following the marketing concept helps organisations survive in the long term?

Marketing = constant research = good knowledge of customers
To satisfy customers organisations need to be flexible to change which helps long term survival
Marketing focuses on efficient production, making quality products and offering customers appropriate promotions that suit customers based on research
Marketing orientated companies are constantly changing therefore more adaptable to its environment
Businesses adopting other orientations will be less flexible
They may have efficient production or focus on quality products but without considering customers they may not survive for very long

Explain what is meant by the micro and macro environment?

Micro environment = factors that are internal or close to the organisation e.g. Manpower, machinery, suppliers etc. Organisations can take control of these factors
Macro environment = factors that are external to the organisation e.g. PESTE
These factors can provide opportunities for organisations but can also pose threats to it
Organisations have no control over external factors they can only use research to try to minimise impact

Part 1) Name 5 factors of the macro environment and discuss how they can affect a specific organisation?

Part One - The macro environment

Political (legislation) – organisations must comply or face a fine or even closure e.g. increase minimum price for alcohol

Part 2) What impact does this have on the micro environment and how can the organisation intervene?

Part Two