Elements of micro- marketing environment

Elements of micro environment.

• Customers: all activities of marketing are focused on satisfying customer needs. marketing activities begin and end with customers. Customers vary greatly in terms of needs, preferences, purchasing power, buying behavior and loyalties. Marketing activities are directly influenced by customers.

• ·Suppliers: Suppliers provide businesses with the materials they need to carry out their business activities. they are individuals or organizations who supply inputs and resources. shortages or delay in supplies can adversely affect marketing activities. factors in supplier environment that influence marketing activities are cost, availability, and continuity of supply of inputs.

• Marketing intermediaries: Organizations typically rely on banks, venture capitalists and other sources to finance operations; wholesalers and retailers, warehouses and transportation companies to distribute goods; and advertising, market research firms and public-relations firms to market their products. The marketing strategy is defined in part on the degree to which each intermediary can potentially increase or decrease customer satisfaction.

• Company:  All departments within an organization have the potential to positively or negatively impact customer satisfaction. As a result, a marketing department works closely with the finance, purchasing, research and development, and manufacturing departments, among others, to identify ways that each department can contribute to the provision of exceptional customer value, which leads to superior customer satisfaction

•  Competitors: The name of the game in marketing is differentiation. Can the organization offer benefits that are better than those offered by competitors? Does the business have a unique selling point (USP)? Competitor analysis and monitoring is crucial if an organization is to maintain or improve its position within the market. If a business is unaware of its competitor's activities they will find it very difficult to “beat” their competitors. The market can move very quickly for example through a change in trading conditions, consumer behavior or technological developments. As a business it is important to examine competitors' responses to these changes so that you can maximize the impact of your response.

• Public: "Public's" are groups that may have a significant impact on marketing activities formulated to contribute to customers' satisfaction with a product and an organization. For example, satisfied customers are a public that contribute to a marketing program through positive word of mouth. Consumer advocates and watchdog groups are examples of publics that may hinder marketing activities through negative word-of-mouth.