Business plan environmental factors in marketing

Software for Treasurers Environmental Factors in Strategic Planning For any business to grow and prosper, managers of the business must be able to anticipate, recognise and deal with change in the internal and external environment. Change is a certainty, and for this reason business managers must actively engage in a process that identifies change and modifies business activity to take best advantage of change. That process is strategic planning.

Business plan environmental factors in marketing

Micro-environment[ edit ] Company aspect of micro-environment refers to the internal environment of the company.

business plan environmental factors in marketing

This includes all Departmentalization departments such as management, finance, research and development, purchasing, Business operations and accounting. Each of these departments influences marketing decisions.

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For example, research and development have input as to the features a product can perform and accounting approves the financial side of marketing plans and budget in customer dissatisfaction.

Marketing managers must watch supply availability and other trends dealing with suppliers to ensure that product will be delivered to customers in the time frame required in order to maintain a strong customer relationship. These are the people that help the company promote, sell, and distribute its products to final buyers.

Resellers are those that hold and sell the company's product. They match the distribution to the customers and include places such as Wal-Mart, Target, and Best Buy. Physical distribution firms are places such as warehouses that store and transport the company's product from its origin to its destination.

Marketing services agencies business plan environmental factors in marketing companies that offer services such as conducting marketing research, advertising, and consulting. Financial intermediaries are institutions such as banks, credit companies and Insurance companies.

There are different types of customer markets including consumer markets, business markets, government markets, Globalization international markets, and reseller markets. The consumer market is made up of individuals who buy goods and services for their own personal use or use in their household.

Business markets include those that buy goods and services for use in producing their own products to sell. This is different from the reseller market which includes businesses that purchase goods to resell as is for a profit.

These are the same companies mentioned as market intermediaries. The government market consists of government agencies that buy goods to produce public services or transfer goods to others who need them. International markets include buyers in other countries and includes customers from the previous categories.

To remain competitive a company must consider who their biggest competitors are while considering its own size and position in the industry.

The company should develop a strategic advantage over their competitors. The final aspect of the micro environment is publics, which is any group that has an interest in or effect on the organization's ability to meet its goals.

For example, financial publics can hinder a company's ability to obtain funds affecting the level of credit a company has. Media public include newspapers and magazines that can publish articles of interest regarding the company and editorials that may influence customers' opinions.

Government public can affect the company by passing legislation and laws that put restrictions on the company's actions. Citizen-action publics include environmental groups and minority groups and can question the actions of a company and put them in the public spotlight. Local publics are neighborhood and community organizations and will also question a company's effect on the local area and the level of responsibility of their actions.

The general public can affect the company as any change in their attitude, whether positive or negative, can cause sales to go up or down because the general public is often the company's customer base.

And finally those who are employed within the company and deal with the organization and construction of the company's product. Macro-environment[ edit ] The macro-environment refers to all forces that are part of the larger society and affect the micro-environment.

It includes concepts such as demography, economy, natural forces, technology, politics, and culture. The purpose of analyzing the macro marketing environment is to understand the environment better and to adapt to the social environment and change through the marketing effort of the enterprise to achieve the goal of the enterprise marketing.

Demography refers to studying human populations in terms of size, density, location, age, gender, race, and occupation.

An example of demography is classifying groups of people according to the year they were born. These classifications can be referred to as baby boomerswho are born between andgeneration Xwho are born between andand generation Ywho are born between and Each classification has different characteristics and causes they find important.

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This can be beneficial to a marketer as they can decide who their product would benefit most and tailor their marketing plan to attract that segment.

Demography covers many aspects that are important to marketers including family dynamics, geographic shifts, workforce changes, and levels of diversity in any given area.

Another aspect of the macro-environment is the economic environment. This refers to the purchasing power of potential customers and the ways in which people spend their money.

Within this area are two different economies, subsistence and industrialized. Subsistence economies are based more in agriculture and consume their own industrial output. Industrial economies have markets that are diverse and carry many different types of goods.What Are Internal & External Environmental Factors That Affect Business.

internal and external factors is considered the most important task for an enterprise before launch any strategic marketing plan. Table of content. Internal impacts Comments for What Are Internal & External Environmental Factors That Affect Business.

Please leave. The business environment is a marketing term and refers to factors and forces that affect a firm's ability to build and maintain successful customer caninariojana.com three levels of the environment are: Micro (internal) environment – small forces within the company that affect its ability to serve its customers.

Strategic planning is the PROCESS by which the GUIDING MEMBERS of an organization ENVISION its future and develop the necessary PROCEDURES AND OPERATIONS to achieve that future.. The planning process can be viewed as a somewhat circular flow of topics and action steps, where the results from one step initiate study and action in the next step.

Marketing strategy is a very important aspect of making a business successful. The absence of a clear strategy, setting up meaningful objectives and goals can be very difficult. Examples of Environmental Factors Affecting Business. Green agenda is a plan where enterprises manage their operations in such a way so that there is minimal.

Over the past two decades, sustainability has become more than a fad or just a buzz word. Research shows that sustainability has real business benefits when conscientiously integrated into business . The business environment is a marketing term and refers to factors and forces that affect a firm's ability to build and maintain successful customer relationships.

The three levels of the environment are.

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