External Factors Influencing The Role Of Marketing Environment In An Organization
1.3 Marketing environment
Marketing environment consists of internal factors, performance factors and external factors affecting marketing function, which is an ability of an organisation to develop and maintain the customer relations. Macro environment includes the external factors which can be understood with the help of Pestle. Micro environment includes the internal factors affecting role and responsibilities of marketing, which includes organisation’s internal resources. Performance factors are the forces influencing the role and responsibility of marketing function, which can be explained with the help of Porter’s five forces analysis. Following is the graphical illustration of the same (Baines, et al., 2013):
Fig. 1: Modified from (Baines, et al., 2013)
Pestle analysis determines about the Political, economic, socio cultural, technological, legal and ecological factors affecting marketing function in an organisation. For example, as legal factor affecting marketing function, USDA organic seal or Non GMO product verification logo is awarded to Coconut bliss (Bliss Unlimited, 2016). It helped the company to build trust amongst the customers and improve the brand value. Internal environment consists of evaluating internal resources of the organisation like product, human resources, systems, finances and marketing strategy. At Coconut bliss human resources is given utmost importance. Product portfolio analysis is done to know the effectiveness of a brand to the
Business Analysis And Pest Analysis Of Selfridge & Co.
1045 Words | 5 Pages2. Analysis of the Industry, market size, competition, etc. 2.1. PESTLE A market is the place or medium where specific activities are transacted between businesses and consumers. To study the macro-environment (i.e., external environment), PESTLE analysis is considered to be the most appropriate as suggested by Kotler and Armstrong (2010).
How To Share Of Garbage Bags
932 Words | 4 PagesA huge sum has been invested, so now it is really crucial for the product to succeed. Moreover the current product mix is not sufficient to bring long term profits for the company. As far as short term goals are considered, management wanted a successful launch for the product which will provide the right marketing and target of the new product line. While the long term goals involved adding variety and diversity to the product line to achieve a long term sustainable growth rather than just achieving short term
Pest Analysis Of Argos
2674 Words | 11 PagesIn this segment we will discuss about the external forces of the company that are not controllable (Keegan and Keegan, 1989). PESTLE analysis will be an effective tool here to analyze the factors. 2.1.1 PESTLE Analysis PESTLE is a very effective macro environmental tool containing six important factor. Political Factors In India political factor is very vulnerable.
Swot Analysis Of Eataly
860 Words | 4 PagesPestle Analysis Political Factor Eataly operates in global environment with their operation spread all around the globe; the operation of the company is influenced strongly by political situation of the country where they are doing business. As Eataly have flexible policies to adjust in an unstable economy (Reijers & Mansar, 2005). Economic Factors The entire planet has witnessed the economic decline and hence the characteristic of purchasing products has been greatly affected all companies without exception Eataly. In addition, the income level of Europe is relatively uneven which makes some people fail to pay for products offered by the company (Chaffey, 2009).
Porter's Five Forces In The Supermarket Industry
1484 Words | 6 PagesIn this era of globalization, the supermarket industry is one of the common investment sectors. It is also forming retail common categories of food products such as fresh and meats, poultry and seafood, fresh fruits and vegetables, canned and frozen foods as well as various dairy products. Investment in this industry can be profitable if succeed but bear in mind that risk still exists if monitoring process is not carried out. Therefore, Professor Michael E. Porter from Harvard Business School has introduced a tool for purposes of analysis potential industry which is the most profitable and potential. Porter stated that five forces are deciding an industry either beneficial at future or it will become a case study and commerce practice (Porter, M.E., 2008).
Political Factors Affecting Adidas
1394 Words | 6 PagesPart A Macro environment is important factor affecting the development of enterprises. A macro environment is the condition that exists in the economy as a whole, rather than in a specific sector or region.(Macro Environment n.d.) Cultures, politics, technology, nature, economy and demographic are the six major forces in the company 's macro-environment.(Kotler & Armstrong 2014, p96） Political factors Political factors include government regulations and legal issues and define both formal and informal rules.(PEST Analysis n.d.) All the companies have to follow these rules.
Macro Environmental Analysis Of Nike
2130 Words | 9 PagesWe can look through its macro environment by six factors. The six factors are: political, economic, cultural, technological, natural, and demographic environment. The macro environment analysis is to find out the possible threats and opportunities of the brand. The analysis will
Factors Affecting Unilever
811 Words | 4 PagesPolitical environment includes laws, government agencies, and pressure group that influence and limit various organizations and individuals in a given society. Economic environment consists of economic factors that affect consumer purchasing power and spending patterns. Social factors include the demographic and cultural aspects of the external macro environment. In which demography is the study of human population in terms of size, density, location, age, gender, race, occupation, and other statistics; cutural environment consist of institution of other forces that affect society’s basic values, perceptions, preferences, and behaviors. Therefore, these factors have an impact on customer’s needs and size of potential markets.
Impact Of External Business Environment On Automobile Industry
1406 Words | 6 PagesSUMMARY In this report, I am explaining how the impact of External Business Environment on Automobile industry in UAE. Also, how the external environment factors are dominant on the growth of an industry including dimensions of management, human resource, marketing and IT tools used in the Industry. INTRODUCTION
Analysis Of Nike's International Marketing Strategy
1115 Words | 5 PagesHowever, the PESTLE factors entails political, economic, social, technological, legal and environmental that are elaborated below: Political Political factor is an imperative factor that organisation considered at the time of expanding their business operations by assessing the political environment of the target market (Li, et al., 2014). Moreover, it is found that there is a strong competition among the sports retailers in all over the world that is why the margin of error is very low for the firms. It is imperative from the prospect of an organisation to evaluate
Micro Environmental Factors Of Nike
1368 Words | 6 PagesMicro and Macro Environmental factors that influence Marketing decisions (LO 2.1) Micro Environment: This indicates those elements over which the marketing firm has control or which it can use in order to gain information that will better help it in its marketing operations. Furthermore, these are the factors close to a business that have a direct impact on its business operations and success. It is important to carry out a full analysis of micro environmental factors prior to decide corporate strategy.
Marketing Case Study: Hindustan Unilever
2155 Words | 9 PagesMr. Shashank Shekhar EXECUTIVE SUMMARY The main objective of this case is to find, what are the steps Hindustan Unilever Ltd. is adapting to be market leader and to differentiate itself from its competitors. What is the steps company is utilizing to find current trend in the market. To study various brands of HUL. To study the competitive brands in the market of, home care products, Food brands, and personal care products.
Reflection On Strategic Marketing
917 Words | 4 PagesFirst, from the beginning of the classes I was able to design and implement marketing/business strategies in particular areas only. After that, I am able to create long-term and mutually beneficial exchange relationships between an entity and the publics with it interact. Moreover, the strategic marketing analysis & planning process such as internal & external situation assessment, strategy formulation, positioning and marketing mix were taught during lessons in detail that integrated my marketing knowledge. And as a result I also became aware with a range of new issue of marketing management and the marketing tactics in particular that were resulted from the product and branding strategy. I found strategic marketing analysis and planning of this project more challenging than
Pestle Analysis Of Maybank Malaysia
709 Words | 3 PagesPESTLE analysis is include of political, economic, social, technological, legal and environmental factors. PESTLE is a business tool that used by companies to track and analyse the macro environment in which the company operate. This tool is very useful which help in overall growth and development of organization after learning from the past mistake and working for future. The first factor is political factor which include such as law of land, taxation policies, rules and regulation, trade restriction and so on.
Kfc Marketing Environment Analysis
1772 Words | 8 PagesTask 2a Marketing Environment Marketing environment of a company which consists of macro environment and micro environment will affects the ability of marketing management of the company to build and retain the loyalty and relationships with their target customers. Macro environmental factors will form opportunities and pose threats to the company, as well as affecting the marketing decision of the company. Besides, micro environmental factors consists of actors which close to a company that can affects ability of the company to serve others. A company can do well when they are able to understand and adapt well in the environments.
More about External Factors Influencing The Role Of Marketing Environment In An Organization
Business Analysis And Pest Analysis Of Selfridge & Co.
1045 Words | 5 PagesHow To Share Of Garbage Bags
932 Words | 4 PagesPest Analysis Of Argos
2674 Words | 11 PagesSwot Analysis Of Eataly
860 Words | 4 PagesPorter's Five Forces In The Supermarket Industry
1484 Words | 6 PagesPolitical Factors Affecting Adidas
1394 Words | 6 PagesMacro Environmental Analysis Of Nike
2130 Words | 9 PagesFactors Affecting Unilever
811 Words | 4 PagesImpact Of External Business Environment On Automobile Industry
1406 Words | 6 PagesAnalysis Of Nike's International Marketing Strategy
1115 Words | 5 PagesMicro Environmental Factors Of Nike
1368 Words | 6 PagesMarketing Case Study: Hindustan Unilever
2155 Words | 9 PagesReflection On Strategic Marketing
917 Words | 4 PagesPestle Analysis Of Maybank Malaysia
709 Words | 3 PagesKfc Marketing Environment Analysis
1772 Words | 8 Pages