Professional Documents
Culture Documents
1. Discuss the external environment of marketing and explain how it affects an organisation 2. Describe the sociocultural factors that affect marketing 3. Explain the importance to marketing managers of multiculturalism and growing ethnic markets 4. Identify consumer and market reactions to the state of the economy
Learning objective
Discuss the external environment of marketing and explain how it affects an organisation
1 External environment
The internal environment is generally controllable, and is discussed in other parts of this text. The external environment are components that are not controlled by the marketing manager or the organisation.
Learning objective
2 Sociocultural factors
The social change is perhaps the most difficult external variable for marketing managers to forecast. Social factors include
Attitudes Values Lifestyle
2 Component lifestyles
People are adopting a number of different lifestyle modes.
for example: a professional marketer, may be a connoisseur chef, who enjoys rally driving and going to live concerts.
Learning objective
Explain the importance of the marketing managers of multiculturalism and growing ethnic markets
3 Demographic environment
Two major factors influencing the demographic The changing character of families. Multiculturalism
3 Multiculturalism
Multiculturalism recognises and celebrates cultural diversity. The changing profile of our population has seen changes in what we eat, what we do, and how we behave.
Learning objective
4 Economic environment
Three economic areas of concern for most marketers include: The level of disposable income Inflation Recession
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5 Technological environment
Technology is one of the most revolutionary dimensions of the external environment Conversion of ideas to products The increased speed and capacity of the Internet, and The ever-increasing of electronic media devices, allowing for instant personal communication
Learning objective
Learning objective
7 Competitive environment
Refers to a given industry category, the number of competitors, an organisation must face the relative size of the competition and the degree of interdependency within the industry.
7 Industry analysis
Industry analysis considers the industry size trains demand characteristics and the emergence or existence of new segments. That could impact on the viability of your possession
7 Competition
Discussion of the competitive forces faced by an organisation Types of market:
Local Domestic International Global
7 Competitors
Need to understand the practices and behaviour of the organisations competitors. Need to appreciate how they will react to a given situation
Learning objective
8 Ethical guidelines
Many organisations developing a code of ethics A code of ethics needs to be clear but neither too detailed or too specific
Learning objective