Marketing Decisions Factors
Internal Environment Factors in Marketing Decisions Making:- This refers to factors existing within a marketing firm.
- They are also called controllable factors, because the company has control over these factors.
- Each department in an organization can affect marketing.
- Internal factors have a direct bearing on marketing efficiency and are important for product introduction
Which includes-
Company Image & Brand Equity,
Finance & Accounting,
Manufacturing,
Purchasing,
Research & Development,
Top management.
- A good image can help a company sell a product whereas a bad image can cause consumers to leave.
- This impacts the ability to raise finances, form joint ventures and when launching new products to the public.
- It can also impact entering purchase or sales contracts
External Environment Factors in Marketing Decisions Making:
External factors are beyond the control of a firm, its success depends to a large extent on its adaptability to the environment 6 Micro Environment: The environmental factors that are in its proximity The factors influence the company’s non-capacity to produce and serve the market Macro Environment: These act external to the company and are uncontrollable These factors do not affect their marketing ability directly but they influence marketing decisions indirectly .
The external marketing environment consists of:| Micro-Environment | Macro-Environment | |
|---|---|---|
| the environmental factors that are in its proximity. the factors influence the company's non-capacity to produce and serve the market. | these act external to the company and uncontrollable . these factors do not affect their marketing ability directly but they influence the marketing decisions indirectly. | |
Micro-Environment:
Customers,
Market Intermediaries,
Suppliers.
Macro-Environment:
Demographic Forces,
Economic Factors,
Political & Legal Forces,
Physical Factors,
Social & Cultural Forces,
Technological Factors.
External Environment Factors: Micro Environment
The Customers May be Classified as:
Ultimate Customers,
Industrial Customers,
Re-sellers,
Government and Other Non-profit Customers,
International Customers,
Competitors,
Public.
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