1. Explain briefly what you understand by the ‘marketing environment’ of a business.
2. Suppliers and intermediaries are important stakeholders in the micro- environment of the business.’ Explain the evolving role and functions of these stakeholders in today’s marketing-orientated business.
3. Critically discuss the links between the internal environment of an organization and its external marketing environment.
The phrase “marketing environment” in a business is indicative of both the internal and external factors, which surrounds the business as well as influences its operation associated with marketing. More precisely, “marketing environment” involves aspects whose forces both directly and indirectly influence organizational capability to undertake business operations. It is to mention that marketing environment in a business involves a trading force that operates a market place and shapes the manner in which a business functions and satisfy its customers (Sharp 2013). According to Sharp (2013), while the components of internal environment affect the internal stakeholders’ business operations, components of external environment are responsible for enabling an organization to take the opportunities of emerging strategic scopes.
In today’s marketing-oriented business, the evolving role of intermediaries is to enable business organizations to deliver products to the end users and minimizes the need to own an entire supply chain. On the other hand, the function of a supplier in market-oriented business is found out to be evolving around materials or service. In the current scenario, the success of a business regarding customer satisfaction predominantly depends on the credibility of the suppliers (Sharp 2013). More specifically, the role of suppliers is to provide standard materials and service to an organization at right time.
The link between internal and external marketing environment in business is that aspects of both the internal and external environment influence each other. More precisely, without the active productivity of the employees and support from investors and management, which are two most significant aspects of internal environment, it is not possible to satisfy one of the most significant components of the external environment – customers (Sharp 2013). On the other hand, in terms of external environment, government rules and market trends influence an organization’s internal structure and work culture.
As per the case study, the recent change in the population is the unfortunate decline of the stereotypical family of 2 parents and 2.4 kids as well as the increasing number of families with single parents.
Yes, the situation is potential in changing the way of portraying “typical family” in the commercial, as the typical portrayal would not help organizations to attract the majority of the target audience.
For a carpet supplier, it is not important to focus on selecting a typical nuclear family as per the fact that a carpet is necessary for any kind of household. Most significantly, a carpet is used to decorate the interiors of any kind of households. Therefore, being a carpet supplier, I would not focus only on the single parent households and will give equal priority to both stereotypical and single parent households.
Considering the case study and the information provided in the scenario, it is understandable that advertisements of products for stereotypical nuclear family are becoming irrelevant. Therefore, a disadvantage for those organizations sells products for both stereotypical and single parent households (Williams 2013). On the other hand, it would not prove an issue for those enterprises, whose products are suitable for only stereotypical households, like home wares.
Sharp, B., 2013. Marketing: theory, evidence, practice. Oxford University Press.
Williams, A.N., 2013, June. A new population curve for prehistoric Australia. In Proc. R. Soc. B (Vol. 280, No. 1761, p. 20130486). The Royal Society.