Accounting MRK108 Chapter 2.1: Part 1 MRK108 Chapter 2
27 Dec 2016
School
Department
Course
Professor
Document Summary
Many organizations assemble a team of specialist to collect and evaluate environmental information. Goal is to gather environmental data to identify future market opportunities and threats. Target market a defined group that managers feel is most likely to (cid:271)uy a firm"s produ(cid:272)t. Over time, managers alter marketing mix to keep pace with changes in the environment in which consumers live, work and make purchasing decisions. Controllable and uncontrollable variables affect the target market. Uncontrollable elements in environment continuously evolve and create changes in target market. Managers react to changes in the external environment and attempt to create a more effective marketing program. More difficult external variable for marketing managers to forecast, influence or integrate into marketing plans. Social factors include: our attitudes, values and lifestyles. They influence the products people buy, the prices paid for products, effectiveness of specific promotions and how, where and when people expect the purchase products.
