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Analysis of Marketing Environment - Assignment

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Added on  2021-01-15

Analysis of Marketing Environment - Assignment

   Added on 2021-01-15

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INTRODUCTIONModern businesses are very dynamic as they have to operate in global environment and isaffected by various factors. These factors include both micro as well as macro environmentalfactors. This essay will include identification and discussion of various environmental factorsthat have changed the nature of modern businesses in this globalised world. Furthermore, theessay will also include; why it is important to follow ethical norms and sustainability.MAIN BODYNowadays every organisation wants to operate globally in order to grow and expand itsbusiness. In order to operate globally, the companies have to change the ways in which they areoperating currently such as they have to adopt advanced technology, fulfil corporateresponsibility and ethics in business(Hamilton and Webster, 2018). Even if the company wantsto operate effectively all across the world; it is essential for it to have a clear understanding of theimpact of various external environmental factors on the business. These external environmentalfactors include both micro as well as macro environmental factors.Micro environmental factors are those factors which directly affect immediate businessoperations of the business as well as its decision making. These are those factors which arewithin the reach of the company and could even be controlled. They include factors such assuppliers, customers, competitors and so on. These factors have changed the nature of modernbusinesses in a way that is discussed below.Suppliers are those people who supply material as well as labour as per the demand madeby the business organisations. They play a important role in adopting a purchase policy whichgives bargaining power to the business organisations. It affects the nature of modern businessbecause if the company manages to get easy availability of material or labour and at low costthen it would be able to achieve economies of scale which in turn will give the businesses acompetitive advantage over other companies that are operating in the same industry all over theworld(Jayashree and et.al., 2016).Customer are those people who buy the goods or avail the services. They are the mostimportant factor of external environment because without customers there is no existence ofcompany. They affect the nature of modern businesses because in order to grow and expand1
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