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Understanding The External Market Enviroment

EXECUTIVE SUMMARY

“All businesses operate within an environment, which directly or indirectly affects the way in which they function, just as we as consumers live within a cultural and social environment which to a greater or lesser degree determines the way in which we behave as individuals.” said Elaine O’Brien, University of Strathclyde.

Unlike the controllable marketing mix variables, the environmental forces are not controllable by marketers. However, marketers can control how they deal with those uncontrollable forces by identifying and monitoring those forces that are relevant to their firms. They also must forecast changes in these forces if they are to develop effective marketing plans and strategies.

All organizations operate within environments. That is, all profit-making and not-for-profit organizations are surrounded by, and must contend with, external forces. Managers cannot govern the nature of these environmental forces. These uncontrollable......


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Approximate Word Count: 5058
Approximate Pages: 21 (250 words per double-spaced page)

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