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Marketing strategies

Implications of this change on marketing strategies, specifically, major shift from traditional ways of marketing and promotion to major usage of online social media like facebook, tweeter and other popular social networking sites will also be analysed in this paper. Therefore, this study includes a complete package of changing business environmental related issues and its effects and implications on marketing strategies. Introduction Continuous changes in various factors of macro business environment are the most important areas of global businesses. Business organizations keep in-depth focus on the new trends or changes in these macro factors. Most important macro environmental factors are political factors, economical factors, social factors, cultural factors and technological factors. Substantial changes on these environmental factors have major impact or effects on the marketing strategies of the organizations. Management of leading organizations in the world have collaboratively developed business associations to research on the forthcoming trend and trend on global market. There are also many research organization have been formed who specialises in the market research to identify the changes and develop necessary changes in the strategic marketing and provide advisory services to the organizations in each countries. Organizations are constantly facing difficulties in this critical of business where expected or predicted changes sometimes differ from the actual changes in the market especially in the purchasing and consumption behaviour of the potential target consumers. Consumer behaviour changes according to the ever changing trend on economical, social and technological environment in the world or a specific country. In this study, the major changes in the macro environmental factors in South Africa will be discussed in details with respect to changing trend in the global business environment. Detailed overview of the change/ trend in macro business environment Business organizations in South Africa or any other countries have become open systems after the worldwide globalizations or open economy or open market. Therefore, organizations get resources from the environment that may be domestic, may be regional or international. Similarly, nay organizations have the opportunity to get the world market as the target market of them and can access any market across the world. Therefore, external environmental factors of a business have major impact on the both input and output level as organizations always tries to grab the opportunities from the changing business environment in national or international level. Firms cannot change any of the macro environmental influences but they can only react by the continuous changing the strategies with the changes in those environmental factors. Therefore, business change the internal business environment i.e. strategies and activities to grasp the opportunities of changing trend in the external environment and also can protect from any negative impact of new trend on the businesses. Therefore, it is very impotent for the managers, strategic decision makers to analysis the business environment in regular basis be3fore developing any strategic decisions for the ...Show more

Summary

Marketing strategies Table of Contents Abstract 3 Introduction 3 Detailed overview of the change/ trend in macro business environment 4 Economy at a glance 4 Political trend 5 Economic trend 6 Social trend 7 Technological trend 8 Impact of the trend on South African organizations 9 Implications of the change on marketing strategies/practices 10 Conclusion 10 References 12 Bibliography 13 Abstract This paper deals with one of the most critical area of current strategic marketing of organizations…
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