The purpose of this report is to discuss how the macro environmental variables can, and have, had an impact on the Higher Education. Moreover, identify this marketing mix (7 P's) from two organisations, which are Monash University and Deakin University. In this part, this report will compare and contrast the two marketing mixes.
1.2 General Information about Macro-environment
Marketing environment consists of a microenvironment and a macro-environment. 'Macro-environment is the larger societal forces that affect the whole microenvironment - demographic, economic, natural, technological, political and culture forces' (Kotler, et al, 2001: 116). Macro-environment is a huge society power to impact the activities in microenvironment in an enterprise. The elements that consist of social power are not only a threat but also an opportunity for an enterprise's marketing activities. Meanwhile, the macro-environment restricts the microenvironment (Wang, 2001: 56).
According to Kotler (2001: 69), the marketing mix is 'the set of controllable marketing variables that the company blends to produce the response it wants in the target market'.
Product means goods and services that company offers to its target market. For example, a university's product is degree and it offers to students.
Price is amount of money that customers have to pay for the goods and services.
Placement 'involves company logistics and marketing activities concerned with making and distributing the finished product to target consumers'.
Promotion is the activities that persuade target customers to buy the products.
People are important in marketing, especially in services.
Physical evidence means 'every aspect that customers use in their perceptual field to assess such a service'.
Process is also important in marketing; customers are involved in the process. (Kotler, et al, 2001: 69-70)
2.Macro-environment factors impact on Higher Education
The macro-environment factors consists of:
Political and legal environment;