... demographics, technological expansion in different countries, government legislation and other elements of PEST analysis help the company to get information which is important in setting the marketing strategy appropriately. Political Political instability and civil unrest of a country can affect businesses to a large extent. A good example is 'concerns that the instability in Egypt could affect shipping in ... faced smaller fines as a result. (BBC, accessed February 2011). Economical As the world is globalised this means that 'geographical distance is of declining relevance, a...

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

... for the most part, however the discussions relates to business organization and principally to larger corporations. A business is not wholly an economic organization for it has social as well as political characteristics. The purpose of business is to promote prosperity, to provide essential and desirable goods, to make life easier business is a quintessential social activity, it involves trading partners and ... responsible to various parties in the society. hence to say that business is a practice is to say it is not only a social activity, but it has goals and rules and boundaries a...

• Word Count: 2202
• Approx Pages: 9
• Has Bibliography
• Grade Level: Undergraduate

... : 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 environmental scanning, the collection and interpretation of information about forces, events, and relationships ... domestic and global, needs to develop a global vision. In our book, global marketin...

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