Certificate III Small Business Management
Code No: 2304ACC February 12
Western Business Enterprise Centre VUT
Once the business has established its competitive strengths and its target markets, a
marketing plan is then structured into the Marketing Mix, or commonly called the "Four
Goods and services offered to target market.
The amount of money customers are willing to pay to obtain the
Company's activities that make the product available to the target customers
Activities to communicate the merits of the product and persuade target
customers to buy it
Marketing Environments - Internal and External Factors
A 'marketing environment' is the factors that effect the marketing management
process ability to meet the needs and wants of its target market. The marketing
environment is made up of internal and external factors.
An internal marketing environment is made up of immediate factors that
influence a business' ability to meet the needs and wants of its customers.
Factors include company structure, suppliers, marketing intermediaries,
customer markets, competitors and the public.
An external marketing environment has larger factors that influence a firm’s
ability to meet the needs and wants of its target market. These factors include
demographic, economic, natural technological, legal/ political and cultural
o How well do you know the current age group, life styles and income
levels of your client base?
o Do you know the current demographic statistics for your area?
o Who are your competitors?
o What are your competitors current price structures and promotional
o How does your pricing compete with market rates?
o What percentage of the current market size do they have?
o What is their business location based on?