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Market environment and business environment are marketing terms that refer to factors and forces that affect a firm's ability to build and maintain successful customer relationships. The business environment has been defined as "the totality of physical and social factors that are taken directly into consideration in the decision-making ...
In business analysis, PEST analysis (political, economic, social and technological) is a framework of external macro-environmental factors used in strategic management and market research. PEST analysis was developed in 1967 by Francis Aguilar as an environmental scanning framework for businesses to understand the external conditions and ...
The parts of a marketing plan are: Introduction; Situation analysis; Objectives; Budgeting; Strategy; Execution; Evaluation; The situation analysis looks at both the macro-environmental factors that affect many firms within the environment and the micro-environmental factors that specifically affect the firm.
However, it has a focus on corporate environmental marketing management, as opposed to sustainability and this concept relies on government regulation to ensure compliance. A second, academically popular, approach relates to green corporate marketing strategies and lifecycle ecological management of product and service management. [12]
Moreover, a reaction strategy to the occurring risks or chances needs to be defined. This is done with the help of the Issue-Impact-Matrix, an adequate instrument to evaluate and prioritize trends. The forecasted environmental factors are here classified with respect to their probability of occurrence and their impact on the company.
Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. [1] In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information.
Green marketing is the marketing of products that are presumed to be environmentally safe. It incorporates a broad range of activities, including product modification, changes to the production process, sustainable packaging, as well as modifying advertising.
The compass of consumers and circumstances (environment) are: (C6) Consumer – (Needle of compass to consumer) The factors related to consumers can be explained by the first character of four directions marked on the compass model. These can be remembered by the cardinal directions, hence the name compass model: N = Needs
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