Marketing Environment
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The marketing environment consists of internal and external factors that affect a firm's ability to develop transactions and relationships. It includes forces inside and outside the company. The internal environment includes internal stakeholders and functional areas. The external environment includes the microenvironment of suppliers, customers, intermediaries, competitors, and public, as well as the macroenvironment of demographic, economic, natural, technological, political-legal, and socio-cultural factors. Political factors include laws and regulations. Economic factors affect consumer spending and income. Social and cultural forces influence consumer behavior. Technological changes create new markets and opportunities. Natural resources are needed as inputs.
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Marketing environment
The marketing environment consists of internal and external factors that affect marketing management's ability to build relationships with customers. The microenvironment includes actors close to the company like suppliers and intermediaries. The macroenvironment comprises larger societal forces like demographic, economic, natural, technological, political, and cultural forces beyond the company's control. Companies must monitor the changing marketing environment and respond to opportunities and threats.
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This document discusses the marketing environment and its importance to marketers. It covers the major components of the marketing environment including the social, economic, technological, competitive, demographic, political/legal, and institutional environments. It explains how changes in these environments can create opportunities or threats for marketers and affect specific markets and marketing activities. It provides details on trends in various environments like population growth, largest cities, median ages in countries, economic trends, political trends like free trade and terrorism, and more.
Marketing envirmonent by m.tayyab
The document discusses the components of a company's marketing environment, including internal and external factors. It covers the micro and macro environment, with the micro environment comprising suppliers, customers, competitors, and public. The macro environment includes demographic, economic, natural/physical, technological, political-legal, and social-cultural forces. Key generations like Baby Boomers, Generation X, and Generation Y are discussed in terms of their demographic and economic impact on marketing. The political and cultural environments are also explored, covering how societal factors like culture, customs, and preferences influence business strategy and consumer decisions.
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The document discusses the micro and macro environment factors that affect businesses.
The micro environment includes internal factors like suppliers, customers, competitors, and publics that are close to the company. The macro environment includes larger societal forces like economic, demographic, technological, political/legal, and natural factors.
It then provides more details on the micro environment factors - suppliers can control business success based on power dynamics; resellers impact marketing success; customers are important to attract and retain; competitors influence pricing and marketing tactics; and the general public impacts public opinion.
The macro environment factors discussed are economic conditions, demographic trends, natural resources, technological advances, political/legal developments, and social/cultural norms that
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Marketing management require and environment. Micro and macro environment is the core elements where marketers must look into. By failing so, companies will be in trouble.
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The document discusses analyzing a company's marketing environment. It identifies the internal, micro, and macro environmental factors that affect an organization's relationships with customers. The internal environment includes management changes, employee morale, and financial issues. The micro environment refers to suppliers, competitors, and customers. The macro environment comprises political, economic, technological, and socio-cultural influences. A PEST analysis assesses these uncontrollable macro factors to determine threats and opportunities for the organization.
2 .responding to the marketing environment
1. The document discusses strategies for analyzing a company's marketing environment, including using an environmental scanning plan to monitor key areas and collect data from various sources.
2. An effective scanning plan determines areas to monitor, how to collect information, who is responsible, and how to analyze trends found in the data.
3. Information collected must be reliable, timely, and used in decision making. Emphasis should be placed on interpreting data rather than just collecting it.
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This document discusses the marketing environment and its internal and external components. The micro environment includes suppliers, intermediaries, customers, competitors, and public. It directly influences the firm's marketing activities. The macro environment includes political, economic, social, technological, environmental, and demographic factors outside the firm's control but which impact its operations. A PEST analysis is used to analyze these macro factors. Understanding the marketing environment is important for planning, identifying opportunities/threats, and gaining a competitive advantage.
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Marketing environment
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1. The document discusses strategies for analyzing a company's marketing environment, including using an environmental scanning plan to monitor key areas and collect data from various sources.
2. An effective scanning plan determines areas to monitor, how to collect information, who is responsible, and how to analyze trends found in the data.
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The document discusses analyzing a company's marketing environment by assessing key factors in the macro environment. It identifies the following factors to analyze: demographic trends like population growth and literacy rates, socio-cultural aspects like culture and social classes, economic conditions of the country or region, political stability, natural resources and climate conditions, technological changes, legal rules and regulations, and government policies that could impact opportunities and threats for businesses. Understanding how these macro environmental factors are changing is important for identifying potential opportunities and risks for a company.
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The marketing environment consists of internal and external factors that affect marketing decisions. Marketing research involves collecting information through methods like surveys, focus groups, and experiments to understand the environment and customer needs. This information is gathered from internal records as well as external sources like marketing intelligence and primary research. It is analyzed and presented to marketing managers to help with decision making around identifying opportunities and problems, evaluating performance, and improving marketing strategies over time.
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The micro environment consists of actors close to a company that influence its ability to serve customers, including the company itself, suppliers, marketing intermediaries, customer markets, competitors, and publics. The document defines each of these actors: the company includes other departments that marketing must collaborate with; suppliers provide resources to the company; marketing intermediaries help promote, sell, and distribute products; competitors provide customer value; and publics have interests in the company's objectives. It also discusses the different types of customers a company may have and how understanding these customer markets is important for marketing.
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The document discusses marketing environmental factors (MEFs) that are external to a company's marketing department but can affect it. MEFs are dynamic and changing MEFs can provide opportunities or threats. There are macro MEFs like demographic, political/legal, economic, social, and technological factors. Micro MEFs that directly impact marketing include the company's other departments, intermediaries like distributors and middlemen, marketing services, public groups, suppliers, customers including consumers and competitors. The marketing department must consider these various MEFs in its planning.
Marketing environment
The document discusses the marketing environment and its internal and external factors. It defines the marketing environment and separates it into micro and macro environments. The microenvironment includes controllable factors like the company, suppliers, customers, competitors, and public groups. The macro environment includes less controllable demographic, economic, technological, political, ecological, and sociocultural factors that affect marketing decisions. All of these internal and external forces must be considered when developing marketing strategies.
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The document discusses the marketing environment, which consists of the microenvironment and macroenvironment.
The microenvironment includes the company, suppliers, marketing intermediaries, customers, competitors, and public. The macroenvironment includes the demographic, economic, technological, political, cultural, and natural environments.
It provides details on the factors within each element of the microenvironment and macroenvironment that affect marketing management's ability to serve customers.
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A business is affected by various internal and external factors that can be divided into micro and macro environmental factors. Micro factors include customers, suppliers, competitors, public groups, and market intermediaries that are close to the company and can be controlled by management. Macro factors refer to broader sociopolitical and economic conditions in the country that are beyond any single company's control. A business must understand and adapt to changes in both its micro and macro environments to succeed.
Marketing Environment Marketing
Environmental monitoring and scanning is crucial for business success. Carefully studying the marketing environment allows companies to adapt their strategies to changing opportunities and challenges. The marketing environment consists of micro and macro forces - the microenvironment includes a company's departments, suppliers, intermediaries, customer markets, competitors, and publics. The larger macroenvironment comprises demographic, economic, natural, technological, political, and cultural forces that shape opportunities and threats.
Marketing environment
The document discusses the marketing environment and its influence on marketing decisions. It defines the marketing environment as consisting of external factors that affect a company's ability to develop transactions. These factors can be divided into the microenvironment, comprising suppliers, customers, competitors, and other organizations; and the macroenvironment, consisting of broader social, economic, technological, political, and natural forces. It is important for companies to monitor and understand how these environmental factors influence marketing decisions and can present opportunities or threats.
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The document discusses the marketing environment and its components. It identifies three key elements of the marketing environment: the internal environment, the microenvironment, and the macroenvironment. The internal environment includes internal stakeholders and functional areas. The microenvironment consists of suppliers, customers, competitors, and public groups. The macroenvironment includes large societal forces such as political, economic, technological, cultural factors that shape opportunities and threats beyond a firm's control. Understanding how these environmental factors impact marketing management is essential for effective planning and competition.
Marketing environment copy - copy
The document discusses the marketing environment, which consists of micro and macro environmental factors that affect marketing management's ability to build relationships with customers. The microenvironment includes internal factors like the company, suppliers, intermediaries, customers and competition. The macroenvironment comprises broader societal forces such as demographic, political, economic, sociocultural, technological, environmental and legal conditions. Understanding how these environmental factors impact an organization allows marketers to develop strategies to address changes in the marketing environment.
Marketing environment
This document discusses analyzing a company's marketing environment. It provides models for scanning the internal and external environment, including:
1) Using PEST/PESTEL analysis to examine the macro environment of political, economic, social, and technological factors.
2) Using Porter's 5 forces model to analyze the micro environment including competitors, buyers, suppliers, new entrants, and substitutes.
3) Conducting a SWOT analysis to summarize strengths, weaknesses, opportunities, and threats based on the external and internal analysis.
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The document discusses the internal and external marketing environments. The micro-environment includes factors close to the company like suppliers, competitors, and customers. The macro-environment includes broader forces like demographics, technology, economy, and government that influence marketing. Understanding both environments is important for marketers to build relationships and stay aware of trends. Market research helps companies gather information on these environments.
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The document discusses analyzing a company's marketing environment by assessing key factors in the macro environment. It identifies the following factors to analyze: demographic trends like population growth and literacy rates, socio-cultural aspects like culture and social classes, economic conditions of the country or region, political stability, natural resources and climate conditions, technological changes, legal rules and regulations, and government policies that could impact opportunities and threats for businesses. Understanding how these macro environmental factors are changing is important for identifying potential opportunities and risks for a company.
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The document discusses the marketing environment that affects a company's ability to develop and maintain customer relationships. It identifies the microenvironment as consisting of suppliers, marketing intermediaries, customers, competitors, and publics. The internal environment includes top management, finance, manufacturing, purchasing, accounting, and R&D. It also outlines the macroenvironment including demographic, economic, natural, technological, political, and cultural forces, and identifies types of customer markets and publics that are part of a company's environment.
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The marketing environment consists of internal and external factors that affect marketing decisions. Marketing research involves collecting information through methods like surveys, focus groups, and experiments to understand the environment and customer needs. This information is gathered from internal records as well as external sources like marketing intelligence and primary research. It is analyzed and presented to marketing managers to help with decision making around identifying opportunities and problems, evaluating performance, and improving marketing strategies over time.
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The document discusses marketing environmental factors (MEFs) that are external to a company's marketing department but can affect it. MEFs are dynamic and changing MEFs can provide opportunities or threats. There are macro MEFs like demographic, political/legal, economic, social, and technological factors. Micro MEFs that directly impact marketing include the company's other departments, intermediaries like distributors and middlemen, marketing services, public groups, suppliers, customers including consumers and competitors. The marketing department must consider these various MEFs in its planning.
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The document discusses the marketing environment and its internal and external factors. It defines the marketing environment and separates it into micro and macro environments. The microenvironment includes controllable factors like the company, suppliers, customers, competitors, and public groups. The macro environment includes less controllable demographic, economic, technological, political, ecological, and sociocultural factors that affect marketing decisions. All of these internal and external forces must be considered when developing marketing strategies.
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The document discusses the marketing environment, which consists of the microenvironment and macroenvironment.
The microenvironment includes the company, suppliers, marketing intermediaries, customers, competitors, and public. The macroenvironment includes the demographic, economic, technological, political, cultural, and natural environments.
It provides details on the factors within each element of the microenvironment and macroenvironment that affect marketing management's ability to serve customers.
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A business is affected by various internal and external factors that can be divided into micro and macro environmental factors. Micro factors include customers, suppliers, competitors, public groups, and market intermediaries that are close to the company and can be controlled by management. Macro factors refer to broader sociopolitical and economic conditions in the country that are beyond any single company's control. A business must understand and adapt to changes in both its micro and macro environments to succeed.
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Environmental monitoring and scanning is crucial for business success. Carefully studying the marketing environment allows companies to adapt their strategies to changing opportunities and challenges. The marketing environment consists of micro and macro forces - the microenvironment includes a company's departments, suppliers, intermediaries, customer markets, competitors, and publics. The larger macroenvironment comprises demographic, economic, natural, technological, political, and cultural forces that shape opportunities and threats.
Marketing environment
The document discusses the marketing environment and its influence on marketing decisions. It defines the marketing environment as consisting of external factors that affect a company's ability to develop transactions. These factors can be divided into the microenvironment, comprising suppliers, customers, competitors, and other organizations; and the macroenvironment, consisting of broader social, economic, technological, political, and natural forces. It is important for companies to monitor and understand how these environmental factors influence marketing decisions and can present opportunities or threats.
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The document discusses the marketing environment and its components. It identifies three key elements of the marketing environment: the internal environment, the microenvironment, and the macroenvironment. The internal environment includes internal stakeholders and functional areas. The microenvironment consists of suppliers, customers, competitors, and public groups. The macroenvironment includes large societal forces such as political, economic, technological, cultural factors that shape opportunities and threats beyond a firm's control. Understanding how these environmental factors impact marketing management is essential for effective planning and competition.
Marketing environment copy - copy
The document discusses the marketing environment, which consists of micro and macro environmental factors that affect marketing management's ability to build relationships with customers. The microenvironment includes internal factors like the company, suppliers, intermediaries, customers and competition. The macroenvironment comprises broader societal forces such as demographic, political, economic, sociocultural, technological, environmental and legal conditions. Understanding how these environmental factors impact an organization allows marketers to develop strategies to address changes in the marketing environment.
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1) Using PEST/PESTEL analysis to examine the macro environment of political, economic, social, and technological factors.
2) Using Porter's 5 forces model to analyze the micro environment including competitors, buyers, suppliers, new entrants, and substitutes.
3) Conducting a SWOT analysis to summarize strengths, weaknesses, opportunities, and threats based on the external and internal analysis.
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Marketing is an indispensable factor for deciding the success of a business. Nonetheless, creating an effective marketing strategy as well as a proper marketing decision has been influenced by many factors and the greatest impacts are from the macro-environmental factors. The purpose of this essay assignment is to introduce these factors briefly. Based on the basic model of the macro-environment factors as known as PEST analysis system and an empirical example of the men’s fragrances industry in the UK, this assignment will also indicate the importance and a sizeable influence of those above factors to the marketing strategy and tactics of an organization, whether it is large or small.
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In this presentation, we will discuss International Marketing Environment, the important factors that affect the environment, various trade barriers protecting domestic industries from foreign competitions and types of commodity agreement. Also state trading, role of GATT and other international trading aspects will be discussed in details.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit: http://www.welingkaronline.org/distance-learning/online-mba.html
8 Principles of Branding
This document provides an overview of 8 principles of branding: be distinct, be first, be insightful, be reliable, be emotional, be there, be smart, and be conversational. It discusses each principle in 1-2 paragraphs with examples to illustrate how following these principles can help build a strong brand.
Product decisions
The document discusses key concepts related to product development and marketing including product design decisions, production decisions, where and when to launch a product, and decisions around product lines and mixes. It defines a product and notes that design decisions are influenced by both physical attributes and subjective attributes. Production decisions involve considerations around manufacturing processes and quality. Location launch decisions include options from local to global markets. Product lines represent groups of related products while product mixes determine the breadth and depth of offerings.
Marketing presentation of product concept
This document discusses various aspects of products including definitions, classifications, product mixes, life cycles, packaging, and labeling. It defines a product as anything offered in a market to satisfy a want or need. Products are classified as consumer or industrial, with consumer further broken down into convenience, shopping, and specialty products. It provides examples of product mixes and discusses the typical life cycle stages of introduction, growth, maturity, and decline. The document also defines packaging and labeling, covering their primary functions to protect, store, and transport products, as well as secondary functions like promotion and sales.
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You can use it to describe something that is of poor quality, or that is not useful or valuable. For example: "I read through a bunch of rubbish while trying to find useful information on the topic.". "The notion that there is something unsustainable in the Argentine policy framework is a bunch of rubbish," he says.
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Examples of 'RUBBISH' in a sentence
Collins Dictionary
https://www.collinsdictionary.com › sentences › english
Nostalgia is rubbish unless your team are victorious. Times, Sunday Times. (2007). What a rubbish waste of a once great show.
Examples of "Rubbish" in a Sentence | YourDictionary.com
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The word started life meaning dung heap, then later refuse or rubbish heap. 2. 2.
PILE OF RUBBISH collocation | meaning and examples of use
Cambridge Dictionary
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waste material or things that are no longer wanted ... See more at rubbish. (Definition of pile and rubbish from the Cambridge English Dictionary © Cambridge ...
LOAD OF RUBBISH collocation | meaning and examples of use
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waste material or things that are no longer wanted ... See more at rubbish. (Definition of load and rubbish from the Cambridge English Dictionary © Cambridge ...
Rubbish Definition & Meaning
Merriam-Webster
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29 Mar 2024 — The meaning of RUBBISH is useless waste or rejected matter : trash. How to use rubbish in a sentence.
lots of rubbish | English examples in context
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1. Waste material or refuse that is no longer useful or wanted. Example: "i need to take out the rubbish before it starts to smell.".
LOAD OF RUBBISH definition and meaning
Collins Dictionary
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Rubbish consists of unwanted things or waste material such as used paper, empty tins and bottles, and waste foo
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Marketing environment.
The document summarizes the key components of a company's marketing environment. It discusses the internal and external factors that make up the marketing environment, including the microenvironment factors of suppliers, customers, competitors, and public. It also outlines the macroenvironment factors of demographic, economic, technological, political/legal, and socio-cultural forces. Each of these internal and external forces can influence and affect a firm's marketing policies, decisions, and operations.
Marketing environment
The document discusses the marketing environment, which includes forces outside of a company's direct control that influence its business capabilities. It describes the internal environment within a company and the external macro and micro environments. The macro environment encompasses broad societal forces, while the micro environment consists of suppliers, customers, competitors, and public groups in the immediate industry. Understanding how these environments shape opportunities and threats is essential for effective marketing planning and competition.
Chapter 1 – Marketing.pptx
Unit-I
Marketing:
Definition, general concepts and scope of marketing, distinction between marketing & selling.
Marketing environment. Industry and competitive analysis. Analyzing consumer buying
behaviour and industrial buying behaviour.
Marketing environment
Marketing environment, classification of marketing environment- macro and micro environment, components of marketing environment, marketing intermediaries, competitors, public, factors of macro environment, social and cultural factors.
Different Types of Marketing Environment
The document discusses the marketing environment and its components. It defines the marketing environment as the external factors that affect a company's ability to build customer relationships. The marketing environment has a micro and macro environment. The micro environment directly impacts the company and includes suppliers, customers, competitors, publics, and marketing intermediaries. The macro environment includes demographic, economic, natural, technological, political, and cultural forces outside a company's control. Understanding these environmental factors is important for effective marketing.
1. MARKETING.pdf
This document provides an overview of marketing and the marketing environment. It defines marketing as satisfying consumer needs and the process of relating creativity, productivity, and profitability. The marketing environment includes internal factors like personnel that are controllable, and external factors like economic conditions that are beyond a company's control. The microenvironment surrounding a company includes suppliers, customers, competitors, intermediaries, and the public. The macroenvironment comprises broader economic, political, social, technological, and international forces. Understanding both the micro and macroenvironment is crucial for business success.
MGT2306-MARKETING-MANAGEMENT LESSON 4
The document discusses the marketing environment that organizations operate within. It distinguishes between the internal environment, which is controllable by the organization, and the external uncontrollable environment. The internal environment includes factors like the company, suppliers, competitors, customers, and public. The external macroenvironment includes demographic, economic, natural, technological, legal, and cultural factors. Organizations must understand how these internal and external environmental factors will affect marketing efforts and strategize to either reactively adapt or proactively manage their marketing environment.
105 Marketing Enviornent Unit no 2.ppt
The marketing environment consists of internal and external factors that affect a company's marketing decision-making and performance. The microenvironment includes suppliers, marketing intermediaries, customers, competitors, and publics. The macroenvironment includes political, economic, social, technological, demographic, and natural forces. Understanding the marketing environment through environmental scanning allows companies to identify strengths, weaknesses, opportunities, and threats to inform long-term business strategy and decision-making.
External marketing environment
This document discusses the external marketing environment, which includes micro and macro factors. The micro environment includes a company's internal departments as well as suppliers, intermediaries, customers, competitors, and the public. The macro environment includes demographic, economic, socio-cultural, political/legal, competitive forces, consumer demand, ecological, and technological factors. These macro factors are generally more uncontrollable than micro factors but influence a company's marketing activities. Understanding both the micro and macro environments is important for developing effective marketing strategies.
Marketing environment 1
The document provides an overview of the marketing environment and its various components. It begins by defining the marketing environment and distinguishing between internal/controllable and external/uncontrollable factors. It then describes the key elements of the microenvironment including suppliers, intermediaries, customers, competitors, and publics. Finally, it outlines the macroenvironment and its demographic, economic, natural, technological, political, and cultural influences. The document aims to equip students with an understanding of the various forces that impact marketing management decisions.
factor affecting entrepreneurial marketing.pptx
The document discusses the marketing environment for entrepreneurs. It describes the micro and macro environmental factors. The micro environment includes internal factors like departments within a company as well as external factors like suppliers, intermediaries, competitors, the public, and customers. The macro environment includes larger societal forces like demographics, economic conditions, culture, technology, the physical environment, and politics/law. Understanding both the micro and macro factors is important for marketing managers to design effective plans and strategies.
Ss marketing environment
The document discusses the marketing environment and its key elements. It covers the microenvironment including internal factors like employees and the company itself, as well as external factors like customers, suppliers, and competitors. It also discusses the macroenvironment including political, economic, social, technological, legal, and environmental forces. A 5 forces model is introduced to analyze competitive forces like threat of new entry and power of buyers and suppliers.
Marketing environment
The marketing environment refers to internal and external forces that affect an organization's ability to operate successfully. The micro environment includes forces close to the company like customers, suppliers, competitors, and public groups. The macro environment includes broader societal forces like political/legal, economic, sociocultural, technological, and demographic factors. Understanding these internal and external forces is important for analyzing markets and developing effective marketing strategies.
Kotler03basic 1227033036183633-8
This document discusses the marketing environment and how companies must respond to various forces. It covers the microenvironment including suppliers, customers and competitors. The macroenvironment includes demographic, economic, natural, technological, political and cultural forces. Companies must understand trends in these environments and how factors like generations and sustainability views impact marketing. They also must react appropriately by adapting strategies and demonstrating social responsibility.
Marketing Micro environment presentaition..
The document discusses the marketing environment and its various components. It defines the marketing environment as factors and forces that affect a firm's ability to build relationships with customers. The marketing environment has two main parts - the microenvironment and macroenvironment.
The microenvironment includes customers, competitors, suppliers, marketing intermediaries, and the public. It directly affects the organization. The macroenvironment includes demographic, economic, technological, political/legal, and sociocultural factors. It indirectly affects the organization. Successful companies continuously monitor and adapt to changes in both the micro and macroenvironment.
Marketing Practices - The Marketing Environment
The document discusses the marketing environment and its influence on marketing decisions. It describes the micro and macro environments. The micro environment includes actors close to the company like customers, competitors, suppliers, and publics. The macro environment consists of larger societal forces like demographic, economic, technological, political, and natural environments. Understanding how these internal and external factors affect marketing is important for developing sound marketing strategies.
Marketing Environment 1.pptx, market folds
The marketing process involves understanding organizational goals, setting objectives, analyzing the marketing environment, developing and implementing strategies. Key parts of the environment are the microenvironment of suppliers, intermediaries, competitors, customers and publics, and the macroenvironment of demographic, economic, technological, political and social-cultural factors. Marketing managers must consider ethics around transparency, honesty, privacy and potential issues in areas like research, products, distribution, promotion and pricing.
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Marketing Environment
- 2. THE MARKETING ENVIRONMENT • The Marketing Environment can be defined all the Internal and External Factors and Forces that affect a firm’s ability to develop and maintain successful transactions and relationships with the target customers. • Thus, Marketing Environment includes all forces that affect Marketing Policies, Decisions and Operations of a company
- 3. COMPONENTS OF MARKETING ENVIRONMENT • Internal environment : Forces and actions inside the firm that affect the marketing operation composed of internal stake holders and the other functional areas within the business organization. • External environment • Micro environment • Macro environment
- 4. Marketing Environment Micro Environment Macro Environment 1.Suppliers 2.Customers 3.Intermediaries 4.Competitors 5.General Public 1.Demographic 2.Economic 3.Natural/Physical 4.Technological 5.Politico-legal 6.Socio-cultural
- 5. Factors affecting Marketing environment 1. POLITICAL FORCES 2. ECONOMIC FORCES 3. SOCIAL AND CULTURAL FORCES 4. NATURAL FORCES 5. TECHNOLOGICAL FORCES 6. DEMOGRAPHIC FORCES
- 6. Political and Legal forces • Includes laws, government agencies and pressure groups that influence or limit various organizations and individuals in a given society. • Increasing legislation. • Changing government agency enforcement. • More emphasis on ethics and socially responsible actions.
- 7. Economic Environment • The economic environment consists of factors that affect consumers purchasing and spending power. • Under economic environment manager generally studies 1. Trends of gross national product 2. Patterns of real growth in income 3. Variations in geographical income distribution. 4. Borrowing pattern ,trends and governmental and legal restrictions. 5. Major economic variables
- 8. Social and cultural forces • Social responsibility has crept into the marketing literature as an alternative to the market concept. • Socially responsible marketing is that business firms should take the lead in eliminating socially harmful products
- 9. DEMOGRAPHIC FORCES • Demographic data helps in preparing geographical marketing plans, household marketing plans, age and sex wise plans. • It influences behavior of consumers which in turn will have direct impact on market place. • A marketer must communicate with consumers anticipate problems ,respond to complaints and make sure that the firm operates properly.
- 10. Technological Environment • • • • • Most dramatic force now shaping our destiny. Changes rapidly. Creates new markets and opportunities Challenge is to make practical, affordable products. Safety regulations result in higher research costs and longer time between conceptualization and introduction of product.
- 11. Natural Forces • Involves the natural resources that are needed as inputs by marketers or that are affected by marketing activities.
- 12. Thanks