Write a brief note on marketing environment factors

marketing environment examples

The appropriate decision makers analyze the translated information of the potential effects of the organization. Most Governmental decisions related to business are based on political considerations in line with the political philosophy following by the ruling party at the Centre and the State level.

Each classification has different characteristics and causes they find important. Other purchases, however, require considerable thought. Management creates appropriate steps that will position the organization in the current business environment. For example, if a retail seller is a reputable name then this reputation can be leveraged in the marketing of the product.

Marketing opportunities to start business in low cholesterol food items.

Write a brief note on marketing environment factors

How useful was this post? Be sure to explain exactly how a given factor might affect product sales. Marketing opportunities to produce cheap small cars. The public have the power to help you reach your goals; just as they can also prevent you from achieving them. Citizen-action publics include environmental groups and minority groups and can question the actions of a company and put them in the public spotlight. Technological Environment: The technological environment is the most dramatic force now facing our destiny. Micro-environment[ edit ] The micro-environment consists of customers, partners, and competitors. Vote count: As you found this post useful Experts have ascribed a number of attributes to Generation Y—people born between and The scanning process makes the organization aware of what the business environment is about. Social-Cultural Environment The social-cultural aspect of the macro-environment is made up of the lifestyle, values, culture, prejudice and beliefs of the people. Technological Factors Technological variables incorporate the innovative work, robotization, development of web and other communication innovations, innovation inducements and barriers to technology. Social and cultural forces: The impact the products and services your organisations brings to market have on society must be considered. Technology has brought innumerable changes in human lives, be it in the field of science, medicine, entertainment, communication, and travel or office equipment. Potential shortages of certain raw materials, for examples, oil, coal, minerals, unstable cost of energy, increased levels of pollution; changing role of Government in environment protection are a few of the dangers the world is facing on physical environment forces.

An organization can effectively offer its products just when individuals have enough cash to spend. For example, you probably spent a lot of time deciding which college to attend.

Macro-environment[ edit ] The macro-environment refers to all forces that are part of the larger society and affect the micro-environment. Bruce Tulgan and Carolyn A. This means knowing what they want right now, not last year.

Understanding the Competitors Every niche has different players fighting for the same spot. For more information about the marketing diploma qualification and studying with Oxford College of Marketing, call Dave Charlton on 0 or email enquiries oxfordpeg.

components of marketing environment

A recent example of this is the environment and how many sectors are being forced to review their products and services in order to become more environmentally friendly.

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The Marketing Environment