Marketing Environment: - The marketing environment related to the external factors and forces that affect a

company's ability to build and maintain successful relationships with target customers. The marketing environment
consists of a microenvironment and a macro environment.
Q1:- Define the modern marketing system and explain in details?
1.Microenvironment: - The microenvironment in marketing is closely linked to your company and affects marketing
operations to serve its customers. It includes factors like customers, suppliers, business partners, etc.
i. Companies: - The marketers must work together with other company or department to create customer value and
relationship
ii. Suppliers: - The Suppliers have the power to change the firm’s position and abilities in the market. Company
depend on suppliers to provide the important inputs for their products or services.
iii. Marketing Intermediaries: - Firm’s that help the company in marketing, selling, and distributing its products to
customers.
iv. Competitors: - Monitoring and analyzing competitors' actions, strategies, strengths, and weaknesses are important
for developing effective competitive strategies.
v. Public: - The groups of people who have a specific interest or impact on a company ability to achieve its goals is
known as public. We can identify seven types of publics
 Financial publics. The group that affects the company's ability for collecting funds. The main financial publics
include shareholders, banks, and investment analysts.
 Media publics. The group deliver news, editorial opinion such as newspaper, magazines, television etc.
 Government publics. Governments and regulatory bodies can affect businesses through policies, regulations, and
legal actions.
 Citizen-action publics. The community in which a company operates is an important external public. The public
relations department can help it stay in touch with customers and citizen groups.
 Local publics. This group includes neighborhood residents and community organizations.
 General public. This refers to the broader population that may not have a direct connection to the organization but
can be influenced by its actions.
 Internal publics. This group includes workers, managers, and the board of directors. Large companies use
newsletters, social media, blogs, and other means to inform and motivate their internal publics.
vi. Customers: - Understanding the needs, interest, and behaviors of customers is important for marketing success.
Companies must modify their products, services, and marketing strategies to fulfil customer need.
2.Macro-environment: - It is the larger societal forces that affect an organization's operating environment. The
microenvironment consist of demographic, economic, natural, technological, political and cultural forces etc.
i. Demography: - Demography defined as the study of human populations' size, density, distribution, age, gender,
job, and other important factors.
Generational differences in the developed world
In the developed world, there are different generations, each born form different historical, social, economic, and
technological experiences.
 Baby boomers:- People born between the years of World War II and 1964
 Generation X—People born between 1965 and 1975 in the ‘birth dearth’ following the post-War baby boom.
 Millennials (or Generation Y)— The children of the baby boomers born between 1977 and 2000
 Generation Z—People born after 2000 (although many analysts include people born after 1995) who make
up the ‘kids, tweens and teens’ markets
ii. Economic environment: - Economic factors that affect consumer purchasing power and spending patterns.
iii. Natural environment: - The physical environment and natural resources that are required as inputs by marketers
and affected by marketing activities
iv. Technological environment: - the factors that create new technologies, product and market possibilities.
v. Political environment: - Government policies, regulations, and political stability can affect marketing activities in
a society.
vi. Cultural environment: - The cultural environment related to the set of values, beliefs, and behaviors, etc. that
represent a society. It plays an important role in creating the way people think, interact, and make decisions.
Chapter 4
MARKETING INFORMATION AND CUSTOMER INSIGHTS
To create customer value and strong customer relationship marketers must collect fresh and deep data related to
customers need and want. The customer insights comes from good marketing information.
Big data: - the large and complex data collected by modern information generation, collection, storage and analysis
technologies
Customer insights: - new marketing information-based on understandings of customers and the marketplace. That
help for creating customer value, engagement and relationships
 Marketing information system (MIS):- A Marketing Information System (MIS) is a structured framework for
collecting, storing, analyzing, and distributing relevant information for marketing decision-making. It is a subsystem
of the overall business information system that focuses specifically on gathering and managing marketing-related data.
1.ASSESSING MARKETING INFORMATION NEEDS
The marketing information system (MIS) start and ends with users. It includes assessing their information needs, then
delivering information and data that related to these needs.
2.DEVELOPING MARKETING INFORMATION
The marketers can collect required information form internal data, marketing intelligence and marketing research.
 Internal databases: - the collections of customers and market information that is collected from different data
sources in a company network.
 Marketing intelligence: - marketing intelligence is the process of collecting, analyzing, and interpreting
information about the market, competitors, customers, and the overall business environment.\
Q1:- Detailed notes on Marketing Research?
 Marketing research: - the systematic process of collection, analysis and reporting of data related to a specific
marketing situation facing by an organization. the marketing research process has four steps
Identifying the problem Developing the research Implementing the Interpreting and
and research objectives plan for collecting research plan for reporting the finding
information collecting and analyzing
the data
 Defining the problem and research objectives: - Defining the problem and research objectives is a critical step in
the marketing research process. It includes clearly understanding the purpose of the research, identifying the specific
problem that need to be solve. A marketing research project can be included one or three types of objectives. Such as
 Exploratory research:- the Marketing research in which we colleting primary information that will help define
problems and suggest hypotheses
 Causal research: - the Marketing research used for test hypotheses about cause-and-effect relationships.
 Descriptive research: - Descriptive research is a type of research design that focuses on describing the
characteristics of a population or phenomenon.
 Developing the research plan for collecting information: - Research objectives must be translated into specific
information needs. The research plan outlines sources of existing data and spells out the specific research approaches,
 Secondary data: - Information that already exists somewhere, and collected for another purpose.
 Primary data:- Information that collected for the specific purpose at hand it consist of research approaches,
contact methods, the sampling plan and research instruments. Planning primary data collection
 Research approaches: - Research approaches for collecting primary data consist of observation, surveys and
experiments.
o Observational research: - process of collecting primary data by observing people, actions, behavior etc.
o Ethnographic research:- Ethnographic research is a qualitative research method that involves studying and
understanding people and cultures within their natural environment
o Survey Research: - Collecting Primary Data by Asking People Questions about Their Knowledge, Attitudes, Etc.
o Experimental research: - collecting primary data by selecting related groups of subjects, giving them different
treatments, and checking their response.
 Contact Method:- the information can be collected by personal interview, online etc. but there is many advantages
and disadvantages of contact method
o Focus group interviewing:- Personal interviewing includes s inviting more than one people to gather for a few
hours with a trained interviewer to talk about a product, service or organization
o Online marketing research: - collecting primary data online through Internet surveys, online focus groups, web-
based experiments etc.
o Online focus groups:- a small group of people online with a trained to chat about a product, service or
organization
o Behavioral targeting: - focusing on marketing offers and advertisements on specific consumers by using online
consumer tracking data.
o Sampling plan: - it is a strategy that describes the process of selecting of individuals or subset of population for
the purpose of making results about population.
Types of samples
Probability sample
Simple random sample Every member of the population have an equal chance to be selected.
Stratified random sample The population is divided into subgroups (strata) based on certain characteristics. And
random samples are Selected from each group.
Cluster (area) sample The population is divided into mutually exclusive groups (such as blocks),
Non-probability sample
 Convenience sample The researcher selects the easiest population members from which to collect
information.
Judgement sample Researchers use their judgment to select member who fit specific criteria.
Quota sample The researcher finds and interviews a suggested number of people in each of deferent
categories.
 Implementing the research plan: - The researcher create the marketing research plan into action. This involves
collecting, processing and analyzing the information
 Interpreting and reporting the findings: - The market researcher must now interpret the findings, draw
conclusions and report them to management.
ANALYSING AND USING MARKETING INFORMATION
Information collected in internal databases and through competitive marketing and marketing research mostly required
more analysis.
Customer relationship management (CRM)— Customer Relationship Management (CRM) mean to a make
practices, strategies, and technologies that organizations use to manage and analyze relation with their current and
feature customers.