The marketing activities of the business are affected by several internal and external factors. While some of the factors are in the control of the business, most of these are not and the business has to adapt itself to avoid being affected by changes in these factors. These external and internal factors group together to form a marketing environment in which the business operates. The marketing environment can be classified into three parts:
Internal Environment – The Internal Marketing Environment includes all the factors that are within the organization and affects the overall business operations.
These factors include labor, inventory, company policy, logistics, budget, capital assets, etc. which are a part of the organization and affects the marketing decision and its relationship with the customers. These factors can be controlled by the firm.
Microenvironment – The Micro Marketing Environment includes all those factors that are closely associated with the operations of the business and influences its functioning. The microenvironment factors include customers, employees, suppliers, retailers & distributors, shareholders, Competitors, Government and General Public.
These factors are controllable to some extent.
Macroenvironment – The Macro Marketing Environment includes all those factors that exist outside the organization and cannot be controlled. These factors majorly include Social, Economic, Technological Forces, Political and Legal Influences.
In this written assignment, I will be analyzing three main marketing environment factors that can affect how Nike can build and maintain successful relationships with its target customer.
NIKE, Inc. was incorporated in 1968 and since then become a household name for apparel.
Nike is the largest seller of athletic footwear and athletic apparent in the world. NIKE classify their products in seven key categories: Running, Basketball, Football (Soccer), Men’s Training, Women’s Training, NIKE Sportswear (our sports-inspired products), and Action Sports. They also market products designed for kids, as well as for other athletic and recreational uses such as baseball, cricket, golf, lacrosse, outdoor activities, football (American), tennis, volleyball, walking and wrestling.NIKE’s athletic footwear products are designed primarily for specific athletic use, although a large percentage of the products are worn for casual or leisure purposes.
To have a successful company and build and maintain successful relationships with its target customer, it is necessary that people within the business are scanning the surrounding environment for potential factors that will have an impact on internal decisions and actions. These factors include the demographic, sociocultural, global and legal environment at the time and in the future. By paying attention to these factors, Nike can keep up with and attempt to stay ahead of their competitors.
Demographic – First of all, Nike has to keep up with different age groups and determine who they want to focus on when manufacturing and marketing their products. Women have increasingly become interested in athletic wear not only for working out but also as fashion. With the expansion of age groups and gender, Nike has to diversify their products to fit the needs of more activities, as well as the tastes of each market segment. They also need to pay attention to the changing popularity of different sports. As a company that specializes in certain sports, as well as providing generic sportswear, Nike can benefit by understanding the market and the trends in popularity of sports in different parts of the world.
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