Week 3 Marketing Environment Tutorial Questions

1) What are the microenvironment forces? List and briefly explain each of these forces.

The micro-environment relates to the forces surrounding the organization and influences its
consumer support ability. It directly affects the business. The business, its suppliers,
marketing intermediaries, consumer markets, competitors and the public are involved in it.

The microenvironment forces are as follows:

 Customers
 Competitors
 Employees
 Suppliers
 Shareholders
 Media and Social Media

 Customers
Customers are the core part of any business, since most customers tend to attract and retain
revenues. Organizations will also follow a marketing strategy which attracts new customers
and maintains their current customers, taking care of customers ' requirements and desires
and offering after sales and value-added services.

 Competitors
The organization's competitors can directly influence corporate policies. The corporation will
realize how rivals can be competitively evaluated and provide a competitive edge. An
organization needs to understand the added value that its competitor offers or its
competitors' only points of sale. How can they differentiate themselves from rivals? What
benefits should a business bring consumers that rivals cannot provide.
This is, consider the marketing combination approach of rivals, such as goods, costs,
positioning, advertising, individuals, processes and physical evidence.

 Employees
Expert workers can help an organisation accomplish its objectives and priorities. As trained
and experienced workers, you have know-how to help a profitable company. It coincides
with the induction phase and proceeds by frequent and appropriate workshops. Training
and development help employees to achieve the corporate objectives in the service sector in
particular efficiently and effectively.

 Suppliers
A supplier 's activities will affect the company plan by supplying manufacturing materials. For
example, because their services do not impact the output and revenue due to a pause in
their manufacturing processes on a fair and timely basis.

 Shareholders
The corporation needs customers to increase to that extent and may want to increase
capital by buoyant in securities, i.e. moving from private equity to public. shares in an
 enterprise have an impact. The move would place strain on the company to pursue returns
on its expenditure.

 Media and Social Media

The publicity may help an entity or ruin it. The corporation will establish a strong partnership
with the media because something it communicates directly affects the business. It improves
the profit of the company and vice versa because the media display constructive dimension.
Many companies include a public affairs team that conducts promotions and handles
publicity on behalf of the corporation to preserve friendly ties with the publicity.
Corporations need to consider how their clients will meet to keep a good business and brand
identity in mind. To do this, some organizations approach newspapers to inform people
about their business and to bring a large number of direct audiences to consumer television
programmes. Today 's framework for social networking is a smart one for meeting clients in
a more convenient manner.

2) How could these forces be applied to Kent Institute Australia?