Environmental factors, both internal like corporate objectives and finances as well as external like competitors and economic conditions, influence and shape marketing activities. Developing marketing strategies requires considering these environmental factors to understand market trends and a company's position. Ignoring environmental aspects can result in lost revenue and ultimately hurt a business and its brand.
Environmental factors, both internal like corporate objectives and finances as well as external like competitors and economic conditions, influence and shape marketing activities. Developing marketing strategies requires considering these environmental factors to understand market trends and a company's position. Ignoring environmental aspects can result in lost revenue and ultimately hurt a business and its brand.
Environmental factors, both internal like corporate objectives and finances as well as external like competitors and economic conditions, influence and shape marketing activities. Developing marketing strategies requires considering these environmental factors to understand market trends and a company's position. Ignoring environmental aspects can result in lost revenue and ultimately hurt a business and its brand.
Date : 19-09-2019 Assignment no 1 Question: How Environmental factors affect & Change the Marketing Activities? Answer: There are many potential internal and external factors influence which shape and influence the Marketing Activities.
Every business whether large or small, is affected not only from
internal and external factors but also include several factors . Firm/Market have no control on external environment. Developing marketing strategies should include considering Environmental Factors so an accurate picture of the Market trends and environment can be presented and to understand as to where the company is standing
Environmental Factors divided into two Factors
Internal Factors are: Corporate objective Finance Human resources Business/ Market culture External Factors are: Market Dynamic Competitor Economic Environment Social and political change
Ignoring environmental aspects is similar to walking on a path
where there are lost revenue which can ultimately impact the health of the business brand.