external marketing environment

Topics: Marketing, Business, Marketing management Pages: 9 (1321 words) Published: September 13, 2014


WTE 365
EXTERNAL MARKETING ENVIRONMENT

NAME: MUFIDA BINTI MAHDZIR
CLASS: AS 117 5A
NO MATRIC: 2012649196
LECTURER’S NAME: MISS IZAIDA BT. IBRAHIM

CONTENTS

title
pages
introduction
1
Social factor
2
Demographic trend
3
Economic condition
3-4
Technology changes
4
Political and legal
4
competition
5
conclusion
6
references
7

INTRODUCTION

The marketing environment represents a mix between the internal and external forces which surround an organization and have an impact upon it, especially their ability to build and maintain successful relationships with target customers. Marketing environment is that which is external to the marketing management function, largely uncontrollable, potentially relevant to marketing decision making and changing or constraining in nature. The marketing environment is more important to management today than ever before, this is both because the rate of environmental change has increased and because there are more types of important environmental changes. The rate of environmental change should be remembered that all of the development experienced by humankind has occurred within a mere moment of history. New types of environmental change have come to the forefront, economic factors go to the core business activity and historically they have always been important to marketing management. The word Environment is associated with our physical environment such as air quality, water pollution, solid waste disposal and natural resource conservation. An organization operates within an external environment that it generally cannot control. At the same time, marketing and non-marketing resources exist within the organization that generally can be controlled by its executives.

EXTERNAL MARKETING ENVIRONMENT
The external marketing environment consists of social, demographic, economic, technological, political and legal, and competitive variables. Marketers generally cannot control the elements of the external environment. Instead, they must understand how the external environment is changing and the impact of that change on the target market. Then marketing managers can create a marketing mix to effectively meet the needs of target customers.

Social factor
Within the external environment, social factors are perhaps the most difficult for marketers to anticipate. Several major social trends are currently shaping marketing strategies. First, people of all ages have a broader range of interests, defying traditional consumer profiles. Second, changing gender roles are bringing more women into the workforce and increasing the number of men who shop. Third, a greater number of dual-career families have created demand for time-saving goods and services. The social or cultural forces refers to the structure and dynamics of individuals and groups and their behaviour, believes, thought patterns and lifestyles, friendship and many of this trends goes a long way to affect your marketing operations.

Demographic trends
Today, several basic demographic patterns are influencing marketing mixes. Because the population is growing at a slower rate, marketers can no longer rely on profits from generally expanding markets. Marketers are also faced with increasingly experienced consumers among the younger generations such as tweens and teens. And because the population is also growing older, marketers are offering more products that appeal to middle-aged and elderly markets. Demography refers to study of people, such as their age, sex, marital status, occupation, family size. Though, demography is uncontrollable because you cannot control the sex, age, marital status in your external environment, but accurate forecast of it goes a long way to enabling you as a marketer forecast future trend and consumptions of your product.

Economic conditions
The 2007–2013 recessions has drastically...

References: 1. http://businesscasestudies.co.uk/business-theory/external-environment/the-external-environment.html#axzz37pdYFamz
2. http://www.ccsfmarketing.com/the-external-marketing-environment.html
3. http://www.slideshare.net/infinityrulz/module-2-marketing-environment-3072064?related=2
4. http://mymarketingnotebook.blogspot.com/2012/11/the-six-6-external-environmental-forces.html
5. http://ebstudies.wordpress.com/2012/07/19/various-environmental-factors-affecting-marketing-function/
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