Fundaments of Marketing

In: Miscellaneous

Submitted By munchkin13
Words 1174
Pages 5
LouAnn Hollihan
American Intercontinental University
Unit 1 Individual Project
MKT255 – Fundamentals of Marketing

Abstract Any organization or company always works in an environment and the decisions of the company are influenced by both internal and external factors. According to many researchers, external factors influence an organization more than the internal factors. In fact, internal factors are always shaped by the external factors, on which an organization has less or no control. The external factors that can influence an organization can be economic, technological, social, political or legal. For any marketing manager, these external factors are very important and needs critical analyses so that companies can have a loyal customer base.

Marketing Environment
The objective of this assignment is to find and analyze the importance of external marketing factors that have affect on marketing managers and their decisions. These factors have direct relation with marketing and critical analysis of these factors is the key to success in marketing. Following are the three different external factors identified;
Market Force 1: Social and Market factors
A company cannot operate without a market. The organizations today perform marketing research so that they can understand the social aspects. These social aspects are divided into difference categories and are used for product development and finally for offering it. This way products and services are provided according to the needs and wants of the market. Successful and reliable social knowledge is an upper edge to the company. With better social information, market needs, consumer demands and cultural aspects; companies can perform much better and can increase their revenues and sales (Malhotra, 2008).
All these social and cultural factors are valid for the chocolate…...

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