This research aims to evaluate and present the relationship of Organizational culture and Knowledge management. Marketing is the process of management that charged with the duty of identifying, expecting and satisfying the requirements of a customer profitably…
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According to the research findings marketing is mainly concerned with trade or exchange. The basic form of trade started when humankind started producing surplus. Humankind produced agricultural products and exchanged them with manufactured goods like earthenware or textiles. Such exchange brought about areas that promoted trade for instance, local markets and village fairs. The development of trade and marketing enabled individuals to specialize production of certain products and services to be traded in markets for ore products required. In the 18th century, the economy of UK changed during the early industrial revolution, leading to rise in industrial production and subsequent loss of dependence on agricultural products. Prior to the industrial revolution, the distribution and production of goods was mainly in small scale. Consequently, industrialization leads to a dramatic increase in productivity, because of technology development. As a result, enterprises enlarged, production increased, and products became more standardized. Companies produced in large numbers for local, national and international markets. Factory systems grew leading to migration of people from rural homes to new and quickly expanding industrial cities and towns. Because of rapid developments during the industrial revolution periods, companies produced volumes more that the local economy could accommodate. Therefore, consumption spread over wider geographical distances, leading to loss of immediate contacts between the producers and the markets. A number of thinking entrepreneurs organized their business transactions in a (marketing oriented” way to deals with this problem, even though the terms “marketing orientation” or ”marketing” were rare until the twentieth century, (Hult and Speh, 2010, p 45). For producers to manufacture products and services that would attract and sell in vastly scarce markets, they had to analyze, interpret and understand the wants and needs of consumers and product, which would appeal and fit in with the wants and needs of such consumers. The process of correlating the firm resources to the wants and needs of the market place is known as entrepreneurship. Entrepreneurs had to sense the requirements of the market in terms quality, prices and design, and later plan production and distribution strategies to meet efficient demands of consumers at a profit. Emergence of industrialization led to specialization and further division of labour, leading to increased productivity, which further reduced costs, and thus the products selling price. Consequently, the increase in work specialization led to increased desire for trade, (Kotler, Keller, Dubious and Marceau, 2006, p 105). Production in large scale led to marketing channels emerging to improve product distribution, and meet the effective demand for more goods by the vast markets. Such developments established essential foundations for the contemporary industrial economy that is still grounded on the critical concepts of exchange and trade. In the mid nineteenth century, Britain dominated the forces of the world economy. The main factor outlining Britain's industrial growth and development was the emergence of international trade. This was because, Britain was the first to secure raw materials supplies, and had a dominated the supply of manufactured products in the expense of underdeveloped nations that collectively formed the British Empire. Later, the United States and Germany emerged as competing industrials nations/powers. Even though United Kingdom experience stiff competition from the economically developing nations in the sectors of coal, steel and textile, British economy still dominated the economy till the first world war. Other countries generated more income that led to rise in effective demand for raw materials, goods and services. The United Kingdom total trade value increased although its international trad
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The conclusion from this study states that marketing conception acts as a significant factor for any business organization while operating their business functions worldwide. The business organizations generally deal with certain business environmental factors, out of which the macro environmental factors play a vital part of the organizations.
However, by offering attractive trade discounts to their customers at various junctures of the year, Marks & Spencer has been able to create a unique market for itself whereby it has been able to cater to those who are willing to purchase quality at a premium as well as those who are unable to purchase their products at the said prices but become part of the consumer base in the circumstances whereby these prices are slashed in line with a trade discount based on quantity purchased etc.
The company will test-market and launch its drinkingwater, Aquafina, in Mumbai before taking it to othercenters. Aquafina will be sold in 750-ml bottles for Rs 10.
Following China, India is the second-most populous country in the world that makes it very important market for world's leading beverage company, Pepsi.
The external macro environment affects the strategies that a business seeks to formulate and implement, in that it determines the performance of the business in its market or industry. There are several macroeconomic factors that affect a business. They include the economic, the legal, political, demographic, social, and technological factors.
It is the condition that affects the economy on a whole rather than a particular region. It has its link with the business cycle rather than the individual business sector (Investopedia, 2010).
The figure below shows the factors affecting the macro environment.
In case of cooperative games, the firms enter into a contract by carrying discussions to plan their strategies regarding advertisement, the style of product and other investments. On the other hand, in case of non-cooperative games, competitor firms evaluate the
The elements are beyond the control of the company but need to be identified because these items can impact the profitability of the firm. The goal of the macro-environment analysis is to discover potential opportunities and threats to the company. The company must determine how and why the macro-environmental elements have an effect on the company.
On average, a household in Canada had 2.5 people going by 2006 statistics (Human Resources and Skills Development Canada, 2013). According to 2010 statistics, about 81% of the Canadian population lives in urban centres, the major cities being Toronto, Montreal, Calgary, Ottawa, and Vancouver.
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