Notesale: Turn your study into money

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Principles of marketing: week 2 (07/10)
The marketing environment is made up of 2 dimensions:
MACROENVIRONMENT: impact on all actors, people and businesses that trade in the
global environment – PEEST (political, economic, environmental, social, technological) The
factors within the macroenvironment shapes the opportunities and threats which a
company will face and are out of the business’s control
...
(Jain, 1989)
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- EU wide laws: Focuses on anti-competitive activities, by preventing the collusion by
price fixing, and the abuse of market dominance
...
g
...

Economic forces: Has a large impact on the levels of supply and demand, therefore
contingency plans need to be set up
...
g
...

- Unemployment: figures can be misleading as it fails to take into account frictional
unemployment for example
- Interest rates: Represent the price that borrowers have to pay lenders for use of
their money over a period of time
...
Imports = more expensive, exports =
cheaper and has a big impact on households, families and pensioners however
positively impacts the tourism industry (e
...
The number of tourists visiting from
China increased by a fifth in the summer of 2019)
- EU
- Eurozone
- Brexit: for example, the car industry is struggling and there is a threat that Brexit will
cause cars to be more expensive as tariffs from cars imported from Germany for
example, will make costs higher, and therefore the price, lowering demand
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- Growing economies
Montgomery and Weinberg (1979) stated that marketing managers predict
governmental policy responses to economic uncertainty in decision making and contingency
planning
...
g
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Threats to national security: companies that sell safety measures (CCTV) would
benefit as there would be a higher demand for their services in order to combat the
possible threats
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Gender equality
Legislation: Legislation impacts marketing decisions, as it sets out the rules by which
a business is conducted – e
...
the smoking ban in public places had an effect on the
demand for cigarettes, forcing new products such as e-cigarettes to be developed
...
g
...

- Ethical consumerism: Occurs when individual consumers, when making purchase
decisions, take personal, environmental and social interests into account
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g
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Therefore,
people now purchase recyclable cups and make their coffee in there

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