Many marketplace changes occur that marketers cannot control, yet they influence what marketers do. Faced with these environmental uncertainties, marketers can respond in three basic ways – do nothing, be proactive, or react.
What happened?
Reacting to change is better than doing nothing.
The most common response, to react, involves changing components of the marketing mix in response to environmental changes.
Many companies constantly gather feedback from customers. They analyze this feedback to determine if they are meeting the needs of their customers, and what they can do better. They then combine their findings with data about consumer trends. Based on the results of the feedback and trend analysis, the company may decide to make product improvements. Thus, the company has changed its product (one component of the marketing mix) in reaction to environmental changes. Another source of feedback and information that is vital to the company is from influential stakeholders. This group wields a great deal of power when it comes to public opinion and often are responsible for prompting changes to laws and governmental procedure.
The best organizations are able to respond quickly to environmental changes and capitalize on them. Whether deftly handling a social media crisis, leveraging an unexpected opportunity in current events, or simply learning something new about their customers or the market, successful marketers will be those who recognize the changes that are occurring and make effective adjustments.
A less common response is to be proactive, or to try to change the environment before it changes the marketplace. For example, a pharmaceutical company may employ lobbyists to change laws related to their business.
Regardless of the response to the external environment, marketers should be driven by an overarching vision, mission, and strategy, all of which provide clarity in how to react to change with tactics that are adaptive and responsive.