External Marketing Environment - Essay Example

Only on StudentShare

Extract of sample
External Marketing Environment

A firm is frequently oblivious about the factors that affect its future. A marketer can comprehend the marketing environment through conducting a marketing research. Acquaintance to the environment assists an organization to modify its promotional mix and recognize new opportunities. Lamb et al (2011, p. 110) cites economic, cultural and social, business, legal and political and demographic elements as the constituents of external marketing environment. Economic Environment There is no more significant component in the external environment affecting marketing than the economic environment. Lamb et al (2011, p111) notes that the economic environment affects the operation of a company on both at micro and macro levels. Micro level refers the individual company while the macro level implies the broader industry, country or international. i. Supply and Demand When there is absence of government intervention and control, supply and demand are the basic underlying forces of the economic dimension. Supply refers to the amount of goods and services sellers and producers are willing to bring to the market at given prices at given time (Lamb et al., 2011, p. 112). Demand on the other hand refers to the amount of goods and services the buyers are willing to buy at a given price and time. ...Show more

Summary

External Marketing Environment Introduction Overtime, the promotional plan must be modified due to the transformations of the setting in which customers live, work and make buying resolutions. This implies new customers will be targeted by the organization while others will be left out…
Author : ystreich
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"External Marketing Environment"
with a personal 20% discount.
Grab the best paper

Related Essays

O2's branding and marketing strategy
and Privacy 28 Instrumentation in Data Collection 28 Validity and Reliability 30 Data Analysis and Presentation 30 CHAPTER 4 FINDINGS 31 O2’s Branding Strategy 31 Aims/Goals of O2’s Branding and Marketing Strategy 32 Priority Goals/Aims of O2’s Branding and Marketing Strategies 32 The Level of Achievement of O2’s Branding and Marketing Goals/Aims 33 Effectiveness of O2 Brand 33 Dimensions of Effective Marketing Strategy 34 Impact of O2’s Branding and Marketing Strategy on the Market 35 Impact of O2’s Branding and Marketing Strategy on Corporate Performance 36 CHAPTER 5: INTERPRETATION, CONCLUSIONS AND RECOMMENDATIONS 37 INTERPRETATION AND CONCLUSIONS 38 Goals of Branding and Mark
59 pages (14750 words) Dissertation
External and Internal Marketing Environment Analysis of Nokia
According to the report the company has however suffered a significant decline in its market share over the past few years and this is attributed to growing consumer interest in smartphones and other emerging mobile products manufactured by the other vendors in the market such as Apple. Nokia is the World’s chief mobile communication company.
9 pages (2250 words) Essay
International Marketing Environment
Achieving favorable balance of payment is always the critical key determinant of governments’ intervention of all the countries in international trade. Governments normally attempt to control international trade with specific policies in order to maximize the likelihood of surplus balance of payment (Appleyard, Field and Cobb, 2005, p.
4 pages (1000 words) Essay
International Marketing Environment
Thus, international marketing has become a necessity for organizations to survive the global competition. Trading blocs have grown in larger numbers with increasing tensions with the need for globalization trying to resolve such issues. With the changing demographics of the world, social changes have also taken place affecting the economy of the world in general.
4 pages (1000 words) Essay
Leading the Way : Start with a Marketing Audit
The goal for Apple’s marketing audit is to outline the assessment of the current environment, customers, target market, competition, services, and marketing strategies to be utilized in developing a marketing audit plan for the firm. The approach, resources, and stages of undertaking Apple’s marketing audit will also be explained.
8 pages (2000 words) Essay
Telephone interview for the London Borough of Newtown2
The data is extracted from the 400 interviews taken from tenants and lease holders of seven states, comprising of 80 males and 183 female respondents. The aim of this paper is to highlight areas in which people of these estates are most satisfied and areas in which they are least satisfied.
8 pages (2000 words) Essay
Effective marketing planning requires full research of the marketing environment. Discuss what needs to be considered when under
A marketing plan has to be made on solid information with regards to the customer base and potential of outreach information. Effective marketing necessitates the identification and comprehension of a target markets. Target markets are extremely dynamic, where they expand and contract, move in new directions and emerging dynamically from where no market previously existed.
8 pages (2000 words) Essay
Marketing environment
The company operates in more than 34000 local restaurants and more than 80 percent of the restaurants are owned though franchising methods (McDonald, 2013g). The food products of McDonald’s include hamburgers, cheeseburgers, chicken wraps, French fries, milkshakes and desserts of varied flavours (McDonald, 2013i).
12 pages (3000 words) Book Report/Review
Find out how much would it cost
to get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT