Identify three key areas of the marketing concept?
Customer focus – ensuring customers are satisfied by continuous research to ensure understanding of customers needs (4Ps )
Integrated effort - customers are the focus of all departments and people within an organisation. Once this is achieved it becomes easier for keep customers satisfied
Goal achievement – corporate goals are achieved through satisfying customers. These goals can include ethical and moral achievements e.g. Fair treatment to workers etc
All important as satisfied customers will return
Discuss why following the marketing concept helps organisations survive in the long term?
* Marketing = constant research = good knowledge of customers
* To satisfy customers organisations need to be flexible to change which helps long term survival
* Marketing focuses on efficient production, making quality products and offering customers appropriate promotions that suit customers based on research
* Marketing orientated companies are constantly changing therefore more adaptable to its environment
* Businesses adopting other orientations will be less flexible
* They may have efficient production or focus on quality products but without considering customers they may not survive for very long
Explain what is meant by the micro and macro environment?
* Micro environment = factors that are internal or close to the organisation e.g. Manpower, machinery, suppliers etc. Organisations can take control of these factors
* Macro environment = factors that are external to the organisation e.g. PESTE
* These factors can provide opportunities for organisations but can also pose threats to it
* Organisations have no control over external factors they can only use research to try to minimise impact
* Part 1) Name 5 factors of the macro environment and discuss how they can affect a specific organisation?