Environmental factors which affect the company.
1. Micro environmental factors
2. macro environmental factors
Affects of micro environment:
1. The company:
Top management, finance, research and development, purchasing, operations and accounting make the internal environment of any company. Top management sets the company's mission, objectives and polices. Marketing managers must make decisions according to the strategy and plans made by top management. Marketing department must work closely with the other department. All the functions perform by the departments must be customer oriented. 2. Customers:
Organizations survive on the basis of meeting “customer needs and wants” and providing benefits for their customers. Failure to do so will result in a failed business strategy. So the mineral water firm tries its level best to provide pure mineral water to its customers and attains confidence of the customer on their product. 3. Employees:
Employing the correct staff and keeping staff motivated is an essential part of an organization's strategic planning process. Training and development play a critical role in achieving a competitive edge. 4. Suppliers
Suppliers of Water firm provide minerals and other materials they need to carry out their business activities. A supplier's behavior will directly impact the business it supplies. If a supplier provides a poor service this could increase timescales or lower product quality. An increase in raw material prices will affect an organization's marketing mix strategy and may even force price increases. Close supplier relationships are an effective way to remain competitive and secure quality products. 5. Competitors
Competitor analysis and monitoring is essential if an organization is to maintain or improve its position within the market. If a business is unaware of its competitor's activities they will find it very...