What is Marketing
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;
Part A Compare and contrast standardization with customization of international marketing strategies. Part B Is one approach better than the other?
... A Compare and contrast standardization with customization of international marketing strategies ... customized elements of the marketing mix that including promotion and distribution in order to meet specific local market needs ...
... The marketing mix principles are controllable variables, which have to be carefully managed and must ... from introduction and growth to maturity and decline ... available to your customers when they want it. With this element, you develop a strategy to sell your products either directly ...
... the ways and compare and contrast the difference of Integrated Marketing Communications (IMC) and Traditional Marketing. Integrated Marketing Communication ... of marketing communication such as advertising, sales promotion, public relations, and direct marketing work together as a unified force, rather ...
... the marketing mix helps set and achieve better and more realistic objectives because by analyzing every element, one could have a very detailed description of the strategy the company will be offering. Then, this analyzed description could be compared to ...
What conditions do you feel must be satisfied in order that market segmentation is effective? State the advantages and limitations of market segmentation with particular reference to consumer goods.
... evaluation, marketers generally combine segments to reduce the number of segments. Page 13 To compare and contrast, I ...
... an organisation's marketing function and can impact on it. We usually distinguish the marketing environment into two categories: Micro-environment and Macro-environment. The micro-environment describes those elements which ...
... Tourism and the Ministry of Higher Education (by setting up a new tourism department specialized in developing tourism skills including management and marketing skills) and the ...
... htmMobile Marketing and Media. (n.d). Retrieved May 19, 2007 from http://www.jupiterresearch.com/bin/item.pl/research:service/1259/Mobile Mentalism. (2007, January 17). LG KE850 Prada and Apple iPhone Compare and Contrast. Retrieved ...