Company's Marketing

Explain the various factors influencing the company's marketing

strategy with the help of suitable examples

My Answer:

There are various factors influence the company's marketing strategy. These

are:

Political factors: laws, rules and regulations that you have to obey which have

been set by the government. For example; supermarkets are not allowed to open

more than six hours on a Sunday. The sale of good act of 1979, goods sold should

meet three conditions.

 

Economic factors: The rate of taxes and the credit crunch could affect marketing

as people will have less money to purchase products and will go for the cheaper

option if possible. If interest rate keep going up these will put of some of the

business. As the amount of income and output of every organisation has a bigger

role of economic factors.

Socio-cultural factors: personal choices and lifestyles, demand from consumers

may affect marketing if there is too little of what the customer wants and needs.

The High Street is suffering badly from a combination of higher mortgage

repayment and credit card costs, fuel and food bills, which are putting huge strain

on British households.

 

Technological factors: Modern and fast technology which can make the

marketing business more efficient, gives more choices on how to send, receive and

store information.

 

Geographical factors: Every place have different atmosphere due to which you

cannot market every product at every place. For example in cities where you can't

find mountains you can't market climbing equipment .In desert area you can't

market swimsuits

HAPPY LEARNING