05-09-2012, 05:23 PM
Factors Affecting Marketing Decisions
11. Factors Affecting Marketing Decisions.ppt (Size: 195.5 KB / Downloads: 44)
Marketers aim to discover the needs and wants of the consumer and communicate the benefits of their product or service to them
There are many different factors that go into each decision that is made within a marketing department
Some factors are controllable (internal)
Others are environmental (external)
Environmental Factors
PEST
Political Regulations
Economical Factors
Social Trends
Technological Limitations/Opportunities
2 C’s
Consumers
Competition
Political Regulations
This is the most important influence on the regulation of any business.
How stable is the political environment?
Influence the Government Policy / Law on your business
Government’s policy on the economy
Environmental Protection Law
Controls if any on Marketing Strategies
Like Marketing / Advertising of Cigarettes, Tobacco, Alcohol etc.
Economic Factors
General conditions of the consumers ability to spend money in specific areas
Example: During a recession – more money is spent on necessities rather than luxury
Hamburger rather than Steak
The Cost of the Dollar
What is the affect of a high Canadian Dollar on sales?