Environmental Factors that affect Global and Domestic Marketing Decisions
Every company global or domestic has external factors that exist that eventually have an effect on the company’s operations. Some of these external factors can be controlled but a larger portion is uncontrollable and yet they can be managed and or influenced by the company. These specific factors make up the marketing environment in which a company has environmental factors that influence the company’s decisions. In this paper, the author will explore the domestic and global environmental factors that could have an impact on FedEx’s marketing decision. The five environmental factors that the author will be discussing are social, economical, technological, competitive, and regulatory.
These five environmental factors are discussed at great length in the book entitled Marketing 8th Edition written by Roger A. Kerin, Steven W. Hartley, Eric N. Berkowitz, and William Rudelius. The writers define social forces as "the demographic characteristics of the population and its values" (Kerin & Berkowitz, Hartley & Rudelius, 2006, p. 74). Some of these demographic characteristics can include gender differences, buying patterns of consumers, culture, attitudes, and diversity. Economical factors are defined by the writers as anything that "pertains to the income, expenditures, and resources that affect the cost of running a business and household" (Kerin & Berkowitz, Hartley & Rudelius, 2006, p. 80). The writers also discussed technological factors as "inventions or innovations from applied science or engineering research" (Kerin & Berkowitz, Hartley & Rudelius, 2006, p. 83). The fourth environmental factor that is discussed in by the writers is competition, which...
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...e social, technological, and environmental consideration in order to make them stand out against their competitors. FedEx has developed a three pronged strategy that is centered on a socially conscious marketing plan that limits their footprint in the environment.
References
Goldbach, Justin. (2008). A Closer Look at Business Education: Ethical Globalization. The Aspen Institute Center for Business Education. Retrieved February 27, 2009, from http://www.aspencbe.org/documents/Ethical%20Globalization%202008%20FINAL.pdf
FedEx Corporate (2009) Mission Statement. Retrieved February 27, 2009, from URL: http://about.fedex.designcdt.com/our_company
Kerin, R. & Berkowitz, E, Hartley, S, & Rudelius, W. (2006). Marketing (8th Ed.). New York: McGraw-Hill/Irwin Retrieved February 27, 2009, from URL: https://ecampus.phoenix.edu/content/eBookLibrary/content/eReader.h
Jennings, M. (2012). Business: Its ethical, legal, and global environment. (9th Ed.) Mason, OH: South-Western Cengage Learning ISBN: 978-0538470544
With forward movement in society, it is important to consider not just what will propel most toward success, but also what will help to sustain the environment along the way. What may have been considered appropriate decades ago, may no longer be socially acceptable due to the changes observed in both the business world and the environment (Fiske, 2010). Therefore, it is important for organizations thriving in today?s economy to consider how they may capitalize most effectively from their product or service of choice while minimizing or eliminating any damages along the way (Knoke, 2012).
Jennings, Marianne M. Business: Its Legal, Ethical, and Global Environment. Mason, Ohio: Cengage Learning, 2008. Print.
This research seeks to reveal the importance of marketing strategies in today’s complex and competitive business world. For this reason, this study will discuss various theories, issues and approaches of the marketing linking them with W.L. Gore & Associates and thereby propose the best options, ideas, strategies and techniques for the improvement of the company. To reach the points, this study will especially collect secondary and qualitative data and information.
Cravens, D. W., & Piercy, N. F. (2009). Strategic marketing (9th ed.). New York, NY: McGraw-Hill Company.
Jennings, M. (2009). Business ethics: Case studies and selected readings (6th ed.). Mason, OH: South-Western Cengage Learning.
However a continuous rise in globalisation could be presented as a challenge for Sainsbury’s. One of the biggest economic factors is the rising costs of fuel which will impact right through the supply chain of Sainsbury’s leading to increase of its products. Social factors to consider due to increase in trend in healthy foods, so for Sainsbury’s to keep up with trends, it would be something to consider. The use of technology for great retailers such as Sainsbury’s is an important factor, persistent upgrading of technologies such as self-checkouts, computerised stock control etc., means less room for human errors. Concerning environmental, reducing carbon footprint is emphasised to big companies. “Companies like Sainsbury’s can contribute a lot of impact on the environment. To do this Sainsbury’s would have to put in more towards the green issue” (UK Essay 2014) Legally, Sainsbury’s would have to make sure to follow policies concerning label and packaging which could be an added financial load to Sainsbury’s. Sainsbury’s should act on its threats, to achieve its goals and
Kotler, P. & Keller, K.L., (2009), A Framework for Marketing Management. 4th edition, Pearson Prentice Hall: USA
Kotler, J., & Keller, K. (2012). A framework for marketing management. Essex: Pearson Education Ltd.
The international business development has heightened the importance of international market selection (IMS) of companies, especially for their exporting strategy. However, not many companies really comprehend the geographical, social, economic characteristics of foreign countries in comparison with their home countries (Cavusgil, 1985). This fact has challenged many studies to create the optimal approach for IMS. The major question is: Which foreign market should a company enter? Thus, this report focuses on providing a practical consultancy to evaluate and determine its most appropriate foreign markets.
Part 1: Introduction The purpose of this assignment is to explain how environmental factors influence the marketing decisions of Amazon.com Inc. We will examine the SWOT and PESTLE analysis, segmentation, targeting, cost and benefits, and positioning strategies implemented by the company. Amazon is the world's largest online retailer, founded in 1994 as an online bookstore. It quickly expanded its catalog to include software, video games, electronics, furniture, food, toys, and more. 2.1 Macro and Micro Environmental Factors There are two types of environmental factors that can influence a business's marketing decisions: macro and micro.
Consumers have expectations In terms of a good quality product that should be availed at a reasonable price. Consumers don’t only want the business to be socially responsible towards them in this manner of reasonable prices but way beyond this. They should meet the needs of consumers in ways of convenience and appearance. But business should also consider other aspects like environmental impact when packaging is disposed.
Cravens, D. W., & Piercy, N. F. (2009). Strategic marketing (9th ed.). New York, NY: McGraw-Hill.
The importance of Environmental Analysis lies in its usefulness for evaluating the present strategy, setting strategic objectives, and formulating strategies. The political environment can affect organizations. Political components influence buyer certainty and purchaser and business spending. Stability of the political environment is essential for organizations to enter new markets.
Environment and the people giving service at that have an effect on customer to make a decision on buying the product.