Assessment Revision and Questions

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?

  * Part One - The macro...
  • Intel Knows Best? a Major Marketing Mistake
    Intel Inside' logo stamped on the front. This "push" marketing strategy of Intel totally dominated the market, thus forcing the Pentium chip to the forefront of the...
  • Computers And Marketing
    bases is not always an easy task. This process involves a careful market analysis, product marketing and consumer base testing. The Internet is a ready base of...
  • The Philippines And The World Market
    country. As a result, the Philippines became almost entirely dependent upon United States markets. Thus, America has had a strong influence on not only the economy...
  • Crime And The Black Market In Modern Day China
    year in China. A pedigree dog could go for as much as $4500 on the black market in China, and it is becoming increasingly common to find "dog - pushers" in the back...
  • Chaos In The Currency Markets : Currency Crisis Of The Ems
    both have abilities to influence exchange rates. Like other financial markets, foreign exchange markets react to any news that may have a future effect. Speculators...