Environmental Factors Paper
This paper will discuss the five environmental factors that influence global and domestic marketing decisions that organizations must make. The five environmental factors are social, economic, technological, competitive, and regulatory. The social forces of the environment as defined in Marketing, include the demographic characteristics of the population and its values (Kerin & Berkowitz, Hartley & Rudelius, 2006, p. 74). This includes gender differences, buying patterns, diversity, culture, and attitudes. The Company refers to this factor as corporate citizenship. Corporate citizenship is one of core values and is integral to the companies’ expertise in flight and technology. knows that they have a global impact and that their combined efforts can yield sustainable improvement in the communities in which they live, work, and support. The second environmental factor is economy. According to Marketing, the economy pertains to the income, expenditures, and resources that affect the cost of running a business and household (Kerin & Berkowitz, Hartley & Rudelius, 2006, p. 80). An interesting example of this is the recent decision by The Company to develop a global partnership with the country of India. India is already a global leader in the outsource market and back office services and they will receive a substantial amount of work from companies. In exchange, India will purchase some sixty-eight aircraft from the company. This exchange will generate over eleven billion dollars for The Company. The next environmental factor is technological. According to Marketing, technology refers to inventions or innovations from applied science or engineering research (Kerin & Berkowitz, Hartley & Rudelius, 2006, p. 83). The latest concept to come out of the Commercial Airplanes Product Development group into the international headlines is the , an all-new airplane concept focused on bringing more economical solutions to...
Please join StudyMode to read the full document