... are influenced by the marketing mix: product, place, promotion, and price, all which are controlled by the marketing manager. Uncontrollable external elements also influence purchasers. The external environmental factors are: 1. Social change 2. Demographics 3. Economic conditions 4. Technology 5. Political and legal factors 6. Competition Understanding the external environment: A critical task for the firm is the process of ... : Although marketing managers consider the external environment to be uncontrollable, they may be able to influence certain aspects. A company may attempt to inf...

• Word Count: 2146
• Approx Pages: 9
• Grade Level: Undergraduate

... Non-renewable resources such as coal, oil, and various minerals pose as serious problem. Firms making products that require these scarce resources face large cost increase. The second environmental trend is increased pollution. These Industries all over the world will almost always damage the quality of the natural environment. The third trend is increased government intervention and natural ... enforcements will continue to increase. Business executives must watch these developments when planning their product and marketing programs. Business is also governed by social holds and rules...

• Word Count: 1952
• Approx Pages: 8

... , there are increasing number of laws that for issues like consumer privacy, product safety, fair trade practices, truth in advertising, packaging and labelling etc. Another important aspect of this external environmental force is the Trade treaties and trade barriers among nations. Today with the extent of globalisation it has become a very important knowledge for any professional and more so for a marketing ... to know the policies and laws that govern the marketing activities in different nations. Kotler et al. (2011, p. 73) also mention that business ethics and the social responsibly...

• Word Count: 1974
• Approx Pages: 8
• Has Bibliography
• Grade Level: High School

... transportation costs, increase in prices, or decrease in demand. Legislation is another factor that has enormous effect on marketers' decisions. This includes trading policies, tax laws, employment laws, competition laws, environmental laws and position of trade unions in a country. The growing importance of the European Union means 'there are now few areas of economic or commercial policy-making where the ... diversified social system, it is taking various steps to satisfy customers from all segments. A good labour policy is one of the core criteria of modern business. Doing busine...

• Word Count: 2348
• Approx Pages: 9
• Has Bibliography