Analyzing the Marketing Environment

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Analyzing the Marketing Environment

Select one of the macroenvironments of marketing described in the lecture, such as demographic, cultural, economic, political, social, and technological, and a product category. What do you think are the three major trends in the environment that have the potential to impact the marketing of the selected product category?

Can the demand for this product change? Why? Would this demand impact the immediate environment for it? What new competitors, if any, will emerge for it? How should a firm in that product category adapt their product to anticipate the impact on these changes?

Submit your answers in a three to four-page Microsoft Word document. Use APA guidelines for your submission.

 

Select one of the macroenvironments of marketing described in the lecture, such as demographic, cultural, economic, political, social, and technological, and a product category. What do you think are the three major trends in the environment that have the potential to impact the marketing of the selected product category?

Can the demand for this product change? Why? Would this demand impact the immediate environment for it? What new competitors, if any, will emerge for it? How should a firm in that product category adapt their product to anticipate the impact on these changes?

Submit your answers in a three page Microsoft Word document. Use APA guidelines for your submission.

Description

Political factors include specific factors relating to the operations of the government.  These are government decisions that have a major impact on the economy. According to Kerin (2012) political factors include factors like tax policies, labor laws, environmental laws, trade restrictions, tariffs, political stability, and others that are likely to change from time to time depending on the government in power. In addition, political factors can include direct intervention in the economy by the government in the provisions of goods and services. For example, if a government intervenes by providing subsidized basic goods, this is likely to affect the market in major ways.   Political factors usually change from time to time with the change of government because different governments hold different philosophies when it comes to economic matters. The government will review taxes and other laws government trade year after year in tandem with the projected economic growth. In addition, the government may act in respect to foreign policy or international trade agreements and improve restrictions and tariffs on certain goods and services, which will have major impacts on the performance of the market.