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Marketing Exam Study!

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    The marketing microenvironment

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      The forces close to the company that affect its ability to serve its customers – the company, suppliers, marketing intermediaries, customer markets, competitors, and publics

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    Major forces in the Marketing Micro Environment (Fig 4.1)

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        The Company

        • When designing market plans, marketing management takes other company groups into account – groups such as top management, finance, research and development, purchasing, operations, and accounting

        • Marketer managers make decisions within strategies and plans made by top management, and work closely with other departments

        • Together, all these departments have an impact on the marketing department’s plans and actions

        • They should think harmony to provide superior customer value and satisfaction

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        • Suppliers are an important link because it’s the overall customer value delivery system

        • Supplier problems can affect marketing, marketer managers must watch closely for supply shortages or delays, labour strikes, and other events can cost sales in the short run and damage customer satisfaction in the short run

        • Most marketers today treat their suppliers as partners in creating and delivering customer value

        • Good partnership relationship management results in success for suppliers, and ultimately its customers

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        Marketing Intermediaries

        • Firms that help the company to promote, sell, and distribute its goods to its customers

        • They include retailers, wholesalers, distributors, brokers, marketing services agencies, and financial intermediaries

        • Retailers buy merchandise from manufacturers, wholesalers, and distributers to resell them, usually in stores to customers

        • Wholesalers buy merchandise from various manufacturers, organize it, and sell it to retailers

        • Distributors physically stock and move goods from their points of origin to their destinations, usually from the manufacturer to the wholesaler or directly to the retailer

        • Brokers are another type of marketing intermediary, they arrange for movement of goods from their point of origin to the retailer or wholesaler, but never physically touch or take possession of the merchandise

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            The value they add, is the knowledge and relationship with producer of goods

        • Marketing service agencies are the marketing research company target and promote its products to the right markets, firms use them to promote their company

        • Financial intermediaries include banks, credit companies, insurance companies, and other businesses that help finance transactions or insure against the risks associated when buying and selling of goods

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              Most firms and customers depend on financial intermediaries to finance their transactions 10

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