Environmental Factors discussion
Kingston University
MSc in International Business Management
THE MARKETING ENVIRONMENTAL FACTORS AND
AN ILLUSTRATIVE SAMPLE FOR THEIR IMPACTS
THAT BASED ON THE UK FRAGRANCES INDUSTRY
Submitted by: Maxie
Submission date: 27th Oct 2013
Lecturer: Hilary Wason
Word count: 888 words
ABSTRACT
Marketing is an indispensable factor for deciding the success of a business. Nonetheless, creating an effective marketing strategy as well as a proper marketing decision has been influenced by many factors and the greatest impacts are from the macro-environmental factors. The purpose of this essay assignment is to introduce these factors briefly. Based on the basic model of the macro-environment factors as known as PEST analysis system and an empirical example of the men’s fragrances industry in the UK, this assignment will also indicate the importance and a sizeable influence of those above factors to the marketing strategy and tactics of an organization, whether it is large or small.
This image for illustrative purposes only: Summer scents series - the seasonal new fragrance collection from
L’Oréal Luxury Products International (The Moodie Report, 2010)
THE MARKETING ENVIRONMENTAL FACTORS AND AN ILLUSTRATIVE SAMPLE FOR THEIR
IMPACTS THAT BASED ON THE UK FRAGRANCES INDUSTRY
One of the most prominent business issues was the debate about the influences of environmental factors on marketing strategies of organisations (Morello, 2013). In fact, the formulation of the marketing decision might be driven strongly by four basic external factors such as political, economic, social and technology which also be known as the PEST analysis (Thakur, 2010) [See Figure 1]. The aim of this essay assignment is to give a description about those factors in brief. Based on some correlative data as some businesslike examples from the market of UK men’s perfume in the UK, it also points out how each environmental factor has affected and changed the face of the
MSc in International Business Management
THE MARKETING ENVIRONMENTAL FACTORS AND
AN ILLUSTRATIVE SAMPLE FOR THEIR IMPACTS
THAT BASED ON THE UK FRAGRANCES INDUSTRY
Submitted by: Maxie
Submission date: 27th Oct 2013
Lecturer: Hilary Wason
Word count: 888 words
ABSTRACT
Marketing is an indispensable factor for deciding the success of a business. Nonetheless, creating an effective marketing strategy as well as a proper marketing decision has been influenced by many factors and the greatest impacts are from the macro-environmental factors. The purpose of this essay assignment is to introduce these factors briefly. Based on the basic model of the macro-environment factors as known as PEST analysis system and an empirical example of the men’s fragrances industry in the UK, this assignment will also indicate the importance and a sizeable influence of those above factors to the marketing strategy and tactics of an organization, whether it is large or small.
This image for illustrative purposes only: Summer scents series - the seasonal new fragrance collection from
L’Oréal Luxury Products International (The Moodie Report, 2010)
THE MARKETING ENVIRONMENTAL FACTORS AND AN ILLUSTRATIVE SAMPLE FOR THEIR
IMPACTS THAT BASED ON THE UK FRAGRANCES INDUSTRY
One of the most prominent business issues was the debate about the influences of environmental factors on marketing strategies of organisations (Morello, 2013). In fact, the formulation of the marketing decision might be driven strongly by four basic external factors such as political, economic, social and technology which also be known as the PEST analysis (Thakur, 2010) [See Figure 1]. The aim of this essay assignment is to give a description about those factors in brief. Based on some correlative data as some businesslike examples from the market of UK men’s perfume in the UK, it also points out how each environmental factor has affected and changed the face of the
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