MKT 100 Lecture Notes - Lecture 1: Mortgage Insurance, Born-Digital, Health Professional

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Janice Rudkowski

Document Summary

A business does not exist in isolation its part of a larger environment that. Technological innovations that affect productivity processes in distribution networks. Likewise a business in the mature state of the lifecycle has to be aware of what is happening in the larger marketplace if it is to maintain its market share and place in the minds of consumers. Let"s begin to discuss what we mean by the external environment. In order to remember the factors we need to consider when investigating the external environment we give it the acronym pest political-legal, economic, social cultural, and technological. Encompasses laws and regulations by which everyone must abide. Another perspective on the political environment is the type of political system in which the business operates. In another less democratic countries, bribes are part of the political system. For example there may be parts of doing business in parts of africa south america and asia.