Angela D. Nicol
University of Phoenix
Every company global or domestic has external factors that exist that eventually have an effect on the company’s operations. Some of these external factors can be controlled but a larger portion is uncontrollable and yet they can be managed and or influenced by the company. These specific factors make up the marketing environment in which a company has environmental factors that influence the company’s decisions. In this paper, the author will explore the domestic and global environmental factors that could have an impact on FedEx’s marketing decision. The five environmental factors that the author will be discussing are social, economical, technological, competitive, and regulatory.
These five environmental factors are discussed at great length in the book entitled Marketing 8th Edition written by Roger A. Kerin, Steven W. Hartley, Eric N. Berkowitz, and William Rudelius. The writers define social forces as “the demographic characteristics of the population and its values” (Kerin & Berkowitz, Hartley & Rudelius, 2006, p. 74). Some of these demographic characteristics can include gender differences, buying patterns of consumers, culture, attitudes, and diversity. Economical factors are defined by the writers as anything that “pertains to the income, expenditures, and resources that affect the cost of running a business and household” (Kerin & Berkowitz, Hartley & Rudelius, 2006, p. 80). The writers also discussed technological factors as “inventions or innovations from applied science or engineering research” (Kerin & Berkowitz, Hartley & Rudelius, 2006, p. 83). The fourth environmental factor that is discussed in by the writers is competition, which refers to “the alternative firms that could provide a product to satisfy a specific market’s needs” (Kerin & Berkowitz, Hartley & Rudelius, 2006, p. 85). A company has to consider... [continues]
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