2196064
Description
Mind Map by charlottedobson3, updated more than 1 year ago
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Created by charlottedobson3
about 9 years ago
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Marketing
Environment
(unit 11)
- Business
Strategies
- Grow Sales e.g.
launch new
products,
expand
distribution and
start selling to
overseas.
- Increase Profits; e.g.
increase selling price,
reduce the amount spent
on advertising.
- Build Customer
Awareness; e.g.
implement a
public relations
programs and
increase
advertising.
- Grow Sales e.g.
launch new
products,
expand
distribution and
start selling to
overseas.
- ECONOMIC FACTORS
(all variable;
changeable)
- Inflation; is an
increase in the
price of goods
and services.
- The Interest
Rate; is the
annual
percentage
charge made for
borrowing
money.
- Unemployment;
it is measured by
the number of
people available
for work and
actively seeking
jobs.
- The Rate of Exchange;
shows the value of one
currency measures by how
much it will buy in other
currencies.
- Inflation; is an
increase in the
price of goods
and services.
- TECHNOLOGICAL
FACTORS;
- The reason why things are quicker &
more exciting. Production methods
have changed, less staff needed.
Marketing has changed; social media.
However many businesses have
problems deciding when to adapt to
this new technology.
- The reason why things are quicker &
more exciting. Production methods
have changed, less staff needed.
Marketing has changed; social media.
However many businesses have
problems deciding when to adapt to
this new technology.
- LEGAL & REGULATORY
FACTORS
- Most business laws protect
stakeholders such as consumers
and employees. E.g. The
Consumer Protection Act 1987,
which means producers are liable
for loss or damages caused to
consumers by defective products.
- Most business laws protect
stakeholders such as consumers
and employees. E.g. The
Consumer Protection Act 1987,
which means producers are liable
for loss or damages caused to
consumers by defective products.
- SOCIAL & ETHICAL
FACTORS
- Consumer concerns have led to many
firms to consider whether their
behaviour is ethical; e.g. paying
suppliers the right price and
accommodating employees spiritual
needs.
- Consumer concerns have led to many
firms to consider whether their
behaviour is ethical; e.g. paying
suppliers the right price and
accommodating employees spiritual
needs.
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