Marketing Management 3(2+1)

Lesson 06 : The Marketing Environment

Internal controllable forces

• Corporate resources-

Human and non-human resources are called as 5M’s

• The manpower is predominantly more important.
• The man's effort is important to makes the three things, viz., material, machine, and money to produce something useful.
• Marketing mix is the heart of a marketing system. The components are product, price, distribution and promotion.
• The marketing environment adopts intelligent forecasting devices to anticipate the trend and intensity of the environmental changes.
• It uses the internal controllable resources.

Marketers should accept the marketing environment to which they must adopt, take advantage of opportunities, be more proactive than reactive in nature.