What is Marketing? 2Experts Define it in One Sentence

Marketing
(Part B)
Name of the Student
Name of the University

Table of Contents
3. How does PESTL (the macro-environment) affect the introduction of a new product or
service?............................................................................................................................................3
4. How is SWOT analysis used in the marketing plan?..................................................................4
5. How could STP (segmentation, targeting and positioning) be used to take advantage of a
market trend?...................................................................................................................................6
6. Consider how internal and external factors may have impacted the success AND failure of
either a brand or a new product/service...........................................................................................7
References........................................................................................................................................9

3. How does PESTL (the macro-environment) affect the introduction of a new
product or service?
As commented by Pathak (2017), Pestle analysis has been a framework and tool utilized for
analyzing and monitoring macro-environment factors which have been affecting performance of
organization. This tool has been useful during starting a new business. Pestle stands for political,
Economic, Social, Technological, Environmental and Legal factors. An example of new product
of Nike in Asian market has been taken.
Political
Political factors have been related to alteration by influence of government of country. Policies
and regulations have been influencing entry of new product into a market. This factors include
government policy, labor, political stability, corruption, tax policy and foreign trade rules.
Government have been changing its laws and policies for betterment of foreign trade in any
country. Therefore, Nike has to look across these policies and create a positive relationship with
the country (Aderounmu and Adepoju, 2019).
Economic
Economic factors have been determinants of a certain economy performance. These factors
include economic growth, exchange rates, inflation rates, interest rates and disposal income of
customers. These factors have been affecting directly and indirectly to the market entry of Nike.
Economic analysis on the market entry of new products need to be done which might help in
analyzing budget of the company. Nike need to analyze the demand and supply of the new
products based on the economic factors (Moro Visconti 2014).