Marketing External Environments :: essays research papers

Im not sure if I am taking the right definition of external environments in my answer, exactly I will talk about them in the way I have learned about them before. There argon always a number of external factors that affect customers, and if a marketing team is full they will take all of them into consideration.Demographics Defined as The characteristics of human tribes and population segments, especially when utilize to identify consumer markets. I think this is one of the most(prenominal) important factors to look at because in take into account many another(prenominal) things about the population including, but not limited toRace sexual urgeAverage IncomeLocationPopulationThis makes a huge difference in marketing because marketing to middle aged Hispanic females may shoot a totally different campaign accordingly elderly tweed males, although they may both be interested in the product. This is generally used in the initial stages of planning to decide if a certain theatre will even be profitable to market in.Political Factors Depending on the political group of the area there may be bans on certain advertising or activities. Certain businesses may be support more than by specific political groups. For example a sub shop may flop in a more participatory area but be a huge success in a primary republican area. You could compare say, Texas and Massachusetts. In Republican Texas the numbfish ownership percentage is much, much higher then in representative Massachusetts.Economic Factors This includes things like interest judge, exchange rates, government policies on receipts and spending, among other things. One of the most common examples of this is car dealerships advertising utmost 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 world is booming, products are moving from Version 1.5 to Version 6.7 in a matter of mont hs. With so much new technology being introduced its important to lodge user friendly, cost conscious, and efficient. Competitors This one is huge. Companies and consumers alike collect to be informed of the competing business in the area. Cost conscious consumers will look in flyers to see if Big Y or Stop and Shop 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 labor and the other abstain, for the simple fact that you need to do everything your competitor is doing and then some.