Marketing External Environments :: essays research papers

Im not sure as shooting if I am taking the right definition of external environments in my answer, but I will talk about them in the musical mode I have learned about them before. There ar everlastingly a number of external factors that affect customers, and if a marketing aggroup is good they will take all of them into consideration.Demographics Defined as The characteristics of homo populations and population segments, especially when used to identify consumer markets. I think this is angiotensin-converting enzyme of the most weighty factors to bearing at because in take into aim many things about the population including, but not limited to travelGenderAverage IncomeLocationPopulationThis makes a huge difference of opinion in marketing because marketing to middle aged Hispanic females whitethorn need a totally different campaign then aged(a) white males, although they may both be filled in the product. This is for the most part used in the initial stages of planning to decide if a true area will even be profitable to market in.political Factors Depending on the political group of the area there may be bans on certain advertisement or activities. Certain businesses may be supported oft by specific political groups. For example a gun shop may flop in a more democratic area but be a huge succeeder in a primary republican area. You could compare say, Texas and Massachusetts. In republican Texas the gun ownership percentage is much, much higher then in Democratic Massachusetts.Economic Factors This includes things like interest rates, exchange rates, government policies on taxation and spending, among other things. One of the most common examples of this is car dealerships advertising Lowest Interest Rates Ever It may be much more successful to push a product more when interest rates are lower, and more appealing to consumers.Technological Factors The technological military personnel is booming, products are moving from Version 1.5 to Version 6.7 in a consider of months. With so much new technology being introduced its important to remain user friendly, cost conscious, and efficient. Competitors This iodine is huge. Companies and consumers alike need to be aware of the competing business in the area. Cost conscious consumers will look in flyers to see if Big Y or Stop and give away has cheaper grapes, and the businesses need to be aware of this so they can appeal to the customer in a way the other business is not. If there are competing businesses in a specific area, you will RARELY see one advertise and the other abstain, for the simple fact that you need to do everything your contender is doing and then some.