Unit 11 - The Marketing Environment

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  • Created by: Mitesh
  • Created on: 14-01-13 17:30
The Marketing Environment
is the range of forces, outside the direct control of a business, which will affect the buyer behaviour and competition within markets. These include economic, technological, legal and regulatory, and social and ethical forces.
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Economic Forces
are changes in the economic variables, such as taxation, which alter consumer' spending and/or alter the prices set by businesses for their products. For example, an increase in the VAT would increase the price of, and reduce the demand
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Technological forces
are developments in technology that alter the businesses produce and sell products e.g. internet tech has made it easier to sell products to consumers directly.
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Legal and regulatory forces
are laws or government regulations that constrain business practices e.g consumer protection legislation and the was businesses can promote their products.
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Social and Ethical forces
- Arise from the attitudes generally held by society, or sections of society e.g changing public attitudes to the environmentare forcing businesses to be eco friendly.
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Other cards in this set

Card 2

Front

Economic Forces

Back

are changes in the economic variables, such as taxation, which alter consumer' spending and/or alter the prices set by businesses for their products. For example, an increase in the VAT would increase the price of, and reduce the demand

Card 3

Front

Technological forces

Back

Preview of the front of card 3

Card 4

Front

Legal and regulatory forces

Back

Preview of the front of card 4

Card 5

Front

Social and Ethical forces

Back

Preview of the front of card 5

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