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[PDF] The Marketing Environment

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Added on  2021-01-03

[PDF] The Marketing Environment

   Added on 2021-01-03

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[PDF] The Marketing Environment_1
Table of ContentsINTRODUCTION...........................................................................................................................3MAIN BODY...................................................................................................................................3Macro and micro environmental factors that changed the nature of modern business in theglobal environment......................................................................................................................3Importance of individuals and organizations to manage social, cultural, economic andenvironmental issues...................................................................................................................4CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
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INTRODUCTIONThere are various factors that are changing the way a business operates. There are variousfactors due to which success of business in this global environment is hindered. Due to thesefactors it becomes difficult for organizations to manage all the social, cultural, economic andenvironmental issues within an organization (Blanco and Cohen, 2017). This essay will layemphasis on all the macro and micro environmental factors that had changed the nature ofmodern business in the global environment. It will also explain reasons for an individual andorganization to manage social, cultural, economic and environmental issues within anorganization.MAIN BODYMacro and micro environmental factors that changed the nature of modern business in the globalenvironmentThere are various kinds of macro and micro environmental factors that work as mainfactors in influence of decision making or creating strategies (Schaltegger and Burritt, 2017).These factors have changed the nature of modern business in the global environment in manyways.Macro environment factors that have changed the nature of business are from PESTEL factors:Political forces: All the businesses face some limitations due to many political factors. Thesefactors involve laws, political pressure groups and government agencies which influences thenature of an organization (Campobello and et.al., 2017).Economic Factors: This force relate to factors that affect the spending and purchasing power ofcustomers(Dierks and et.al., 2016). For example before expanding a business into a new countryorganizations should gain knowledge about certain criteria such as GDP, import duty, tax,inflation etc. Social-cultural forces: These forces are based on factors that affect behaviour, values andpreferences of the society. These factors work as one of the main reason that affect the success ofa business and which changes the nature of modern business in the global environment (Castaño,Méndez and Galindo., 2015). Technological Factors: This force includes use of technology in manufacturing of new productsand for marketing opportunities. It is also one of the main factor in development of any business
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