University Marketing Plan and Risk Assessment - MKTG 630, Unit 1

This discussion board post analyzes a marketing plan and risk assessment, focusing on environmental factors. The student identifies political, economic, and technological factors as most critical, arguing their importance for marketing operations. They contrast this with opposing viewpoints that emphasize socio-cultural and technological factors. The student defends their position by highlighting the impact of political stability, economic affordability, and technological advancements on marketing strategies. The post also explores solutions for developing ownership of the plan, recommending market assessments to the board to recognize changes in these factors and improve marketing strategies. A compromise with economic considerations is suggested to understand customer affordability and market positioning. References to supporting research are included.

Running head: MARKETING PLAN AND RISK ASSESSMENT
MARKETING PLAN AND RISK ASSESSMENT
Name of the student
Name of the university
Author note

1MARKETING PLAN AND RISK ASSESSMENT
Which of the environmental factors do you feel is the most critical, and why?
Marketing and management plays an important role in enhancing the performance while
focusing on the demand of the customers. The assessment of the environmental factors permit an
organization in enhancing the performance while focusing on the demand of the customers.
According to Johnson, Fisher and Friend (2019), the assessment of the market environments
empowers the marketing operations of the venture in alignment with the strategic requirements
of the venture. In this relation, I believe that the political, economic and technological factors
empowers the marketing operations of an organization. The political, economic and
technological factors mostly identifies the current legislative frameworks, the affordability of the
customers and the technological innovations that are being implemented by the organizations in
the market.
What might someone with an opposing viewpoint think is the most important?
The other might oppose my viewpoint by stating that the socio- cultural and
technological factors mostly influence the rate of marketing operations of an organization. The
different aspects of change in the organizational operations are related technological changes in
the market environment and the preferences of the customers.
Given this opposing argument, how would you argue your opinion?
I believe that the assessment of political, economic and technological factors are a
necessary for improving the marketing potentials of an organization. The consideration of the
economic aspects of a market environment would allow the organization in assessing the
affordability of the target customers while improvising on the technological modifications. On
the other hand, the political factors influence the sustenance of the business operations in the

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markets based on legislative frameworks and political stabilization. Guo et al. (2019) opined that
the healthy marketing operations of an organization is based on the efficient functioning of the
different systems while focusing on the demand of the customers. Therefore, I believe that the
consideration of the political, economic and technological factors are essential for recognizing
the nature of the market, even more than the cognition on socio- cultural aspects of human
behavior.
What solutions should be considered as you seek to develop a sense of ownership of your
plan?
The plan of developing an insight on the political, technological and economic aspects
might be supported through the effective understanding of the different aspects of change in the
organizational operations while focusing on the demand of the customers. The assessment of the
overall market dynamics through lucid cognition on the environmental factors would enable the
venture in improving their capability of developing strategies for the growth and expansion of
the venture.
What solutions would you recommend to the board, and why?
I would like to take the initiative of advising the board to conduct market assessments
with the purpose of recognizing the different changes in the political, economic and
technological aspects of the concerned market. It would allow the organization in improving
their cognition on the different strategies that might be applied by the same for improving the
marketing operations. The assessment of the technological alterations would permit the
organization in improving their competency of empowering the growth of the operations.
Is a compromise feasible?

3MARKETING PLAN AND RISK ASSESSMENT
A compromise with the economic considerations would allow the organization in gaining
cognition on the affordability of the customers while positioning their propositions. The
assessment of the market position would thereby assist the organization in gaining significant
insight on the nature of changes that might be considered by the same while operating in the
different markets.

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References
Guo, C., Kulviwat, S., Zhu, J., & Wang, Y. J. (2019). Competing in an emerging market:
antecedents and consequences of market orientation and the role of environmental
factors. Journal of Strategic Marketing, 27(3), 248-267.
Johnson, J. S., Fisher, G. J., & Friend, S. B. (2019). Crowdsourcing service innovation creativity:
environmental influences and contingencies. Journal of Marketing Theory and
Practice, 27(3), 251-268.