Explain how the marketing environment affects strategic market planning.
To achieve a firm's marketing objectives, marketing-mix strategies must begin with an assessment of the marketing environment, which, in turn, influences decisions about marketing-mix ingredients. Marketing activities are affected by the external forces that make up the marketing environment.
These forces include economic, socio-cultural, political, competitive, legal and regulatory, and technological forces.
Economic forces affect customers' ability and willingness to buy. Socio-cultural forces are societal and cultural factors, such as attitudes, beliefs, and lifestyles, that affect customers' buying choices. Political forces and legal and regulatory forces influence marketing planning through laws that protect consumers and regulate competition.
Competitive forces involve the actions of competitors. Technological forces can create new marketing opportunities or cause a product to become obsolete.
Learn More :
Human Resources
- Identify the major steps in the consumer buying decision process and the sets of factors that may influence this process.
- Distinguish between a marketing information system and marketing research.
- Describe how market measurement and sales forecasting are used.
- Contemporary Views on Motivation: Goal-Setting Theory
- Contemporary Views on Motivation:Expectancy Theory (Victor Vroom)
- Contemporary Views on Motivation: Equity Theory
- Historical Perspectives on Motivation:Reinforcement Theory
- The Features of Theory Z
- Historical Perspectives on Motivation: Theory X, Y and Z.
- Maslow's Hierarchy of Needs
- What Is Motivation?
- Understand the types, development, and uses of teams.
- Explain several techniques for increasing employee motivation ?
- Describe three contemporary views of motivation: equity theory, expectancy theory, and goal-setting theory.
- Understand some major historical perspectives on motivation.
- Explain what motivation is.
- Describe cultural diversity and understand some of the challenges and opportunities associated with it.
- Identify the steps in human resources planning.
- Describe the major components of human resources management.
- Outline the major legislation affecting human resources management.
- Discuss performance appraisal techniques and performance feedback.
- Explain the purposes and techniques of employee training and development ?
- Discuss the primary elements of employee compensation and benefits ?
- Describe the processes of recruiting, employee selection, and orientation ?
Building Customer Relationships
- Identify the major steps in the consumer buying decision process and the sets of factors that may influence this process.
- Distinguish between a marketing information system and marketing research.
- Describe how market measurement and sales forecasting are used.
- Understand the meaning of marketing and the importance of management of customer relationships.
- Contemporary Views on Motivation: Goal-Setting Theory
- Contemporary Views on Motivation:Expectancy Theory (Victor Vroom)
- Contemporary Views on Motivation: Equity Theory
- Historical Perspectives on Motivation:Reinforcement Theory
- The Features of Theory Z
- Historical Perspectives on Motivation: Theory X, Y and Z.
- Maslow's Hierarchy of Needs
- What Is Motivation?
- Understand the types, development, and uses of teams.
- Explain several techniques for increasing employee motivation ?
- Describe three contemporary views of motivation: equity theory, expectancy theory, and goal-setting theory.
- Understand some major historical perspectives on motivation.
- Explain what motivation is.
- Describe cultural diversity and understand some of the challenges and opportunities associated with it.
- Discuss performance appraisal techniques and performance feedback.
- Explain the purposes and techniques of employee training and development ?
- Discuss the primary elements of employee compensation and benefits ?
- Describe the processes of recruiting, employee selection, and orientation ?
- Explain the objectives and uses of job analysis ?
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.