The external environment’s influence on marketing

Target Market
A homogenous group of consumers that managers feel are most likely to buy a firm’s product.
Involvement in environment
Internal-direct control and responsibility of marketing. Limited influence on business environment.
External-no influence or control
Environmental scanning
Continually collect and evaluate environmental data and info. Focus on external environment to identify opportunities and threats.
Opportunity
Area of consumer need that a firm can utilise profitably.
Threat
Challenge posed by an unfavourable trend or development that could harm the firm.
Environmental Management consists of
Social Factors
Demographic factors
Economic Factors
Technological Factors
Political Factors
Legal Factors
Competitive factors
Physical forces which influence marketing
Climate change
Pollution
Scarce resources
Recycling and non-wasteful packaging
Environmentally friendly ingredients