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Launching a Womens Magazine - Assignment Example
The market for women's magazines was estimated to be worth 700 million in 2008, which is up by 21% in value and 7% in volume as compared to 2003 (Mintel International 2008). Though this can be considered a sound market, it is noteworthy that the sales have fallen since 2006…
The marketing environment being essentially dynamic, it is essential for the organisation to keep up with the changes (Marketing Environment 2004, p.34). The marketing environment comprises of forces that are internal and external to its marketing functions. Internal forces are those that are inherent to the organisation and hence, can be controlled by the organisation. External forces affect the industry as a whole and cannot be controlled by individual organisations. It is imperative for an organisation to predict, recognise, analyse and understand these forces, and strategically plan its marketing activities.
Macro-environmental factors include political, economical, social and technological factors along with demographic, cultural and legal factors that affect a marketing environment. Government policies, political stability, legislations, and prevailing domestic politics and international politics are factors that can affect the publishing industry. Economic factors of a region greatly influence the purchasing power parity (PPP) of that region. The higher the purchasing power parity in a region, the higher its buying potential (Marketing Environment 2004, p.41). The socio-cultural forces refer to the attitudes, beliefs, norms, values and lifestyles of individuals in a society. ...