These factors can be controlled by the firm. In her daily life, Ms. The major goal is to increase. Only a suitable marketing mix — called as optimum marketing mix — can serve the purpose. When it comes to political and economic environments, the company has no way to determine if consumers feel good about spending money.
Consumer protection, Environment, Government 1345 Words 5 Pages The simple circular diagram, which shows the four P's focusing upon the customer, emphasizes the variables which the marketing manager can control. Pricing policy, credit policy, education policy, housing policy, etc. Technology Shapes Buying Behavior Technological advances are a strong economy marketing factor that organizations can't afford to ignore. Looking at the demographic factors used in marketing Zumiez products. The external marketing environment consists of : a Macro environment, and b Micro environment a Micro environment: The environmental factors that are in its proximity.
Although this is true, marketing goes beyond selling and advertising. In 2009, unemployment rates reached 10 percent and more than six million people lost their jobs. The needs of a business can be related to the satisfaction of its consumers. Laws New laws can alter the way you do business and how you create marketing plans. Slow down in the growth of employment in home countries. Firstly, decisions are made everywhere and all the time. Under responsibility accounting, managers are evaluated based on costs that they can control.
Fo … r Example: Employees morale, Suppliers reactions etc. Though it may be more difficult to develop if exporting to markets that are very different from your home country, the prevalence of English and world-wide familiarity with American culture often allow for minimal, … if any, changes. Products are sold on request that need quotations andspecifications. Managerial philosophy of company iii. Main global factors include: i. Defining Marketing As stated in the text, marketing affects almost every aspect of. The information of host country on political stability, cultural attributes and geographical characteristic are required for sound for foreign markets.
Through subjects like Principles of Marketing, International Marketing and Design Management, I found myself highly stimulated by the intellectual challenge presented in formatting. Decision-making Authority Managers with higher decision-making authority can control costs. Some are external to the firm and thus are largely uncontrollable by the organization. These are numbers of pressure groups in the society who impose restrictions on the marketing process. Direct material cost, direct labor, and variable overheads are main types of variable costs. The four 'Ps' of marketing are product, place, price and promotion. Muslims do not eat pork, while Christians do not smoke and drink beer e.
Risk:- Strategic plans mostly face the problem of risk. But not everyone in the public is a perfect buyer for a given product. While deciding on marketing mix, marketing manager has to take into account many internal and external factors, discussed as under: Internal Factors Internal factors are internal to organisation. To save on costs of transporting goods to the market place. Take the time to know who your customer is and where they hang out to most effectively market to them.
These costs can be altered in the short term. Risk and uncertainty are two important aspects, which can not be expected by business man. Inflation, demand and supply, interest rates, taxes and recession all influence how much money people have to spend as well as the price of your products. Many of these issues can affect PepsiCo's marketing plan even in different areas of the United States. When you're ready for the next steps, check out Financial Analysis: Analyzing the Top Line with Excel and Financial Analysis: Analyzing the Bottom Line with Excel.
The marketer must also consider the product mix. In general, costs relating to a particular business decision is controllable; if the company decides to refrain from making the decision, the costs will not have to be incurred. Correction strategies are discussed if any deviations arise. This involves looking at what they are doing and how they go about doing it. Economic Conditions The local, national and global economies have a significant effect on the focus of your marketing plans. Decisions within your control regarding research, investments, strategy change or growth influence the success or failure of your business as well.