About This Chapter
Marketing Environment Factors - Chapter Summary and Learning Objectives
It takes more to get a product sold than just having a good idea, building it, and slapping a price tag on it. This chapter discusses the environmental considerations a business must take into mind when marketing their goods. Each lesson focuses on one aspect of the marketing environment and delivers instruction with a short, informative video. The lessons are taught by an experienced professional in the marketing field. They are accompanied by quizzes and a test to gauge your comprehension of this subject. The lessons in this chapter include:
- How a company's internal and external environments affect their marketing
- The effects of consumers' social situations on their purchasing decisions
- Economic and market effects on both consumers and supply
- The role of technology in the market
- Legal and political considerations in marketing
- How to market amid competition
|Marketing Environment: External Influences on Marketing Strategy||Instructors provide a detailed analysis of the effects of the outside world on how a business markets their products.|
|Marketing Environment: Internal Influences on Marketing Strategy||This video explains how the structure of a company and the people and subsidiaries within it affect how they sell products.|
|Attitudes, Values & Belief: Social Factors in Marketing||Students get a primer in the sociological principles guiding consumer choices in this exciting video.|
|Consumer and Industry Reaction to the Market and Economy||Here students are taught the importance of factoring the economic environment into a business' marketing plan.|
|Technology's Impact on Marketing and Marketers||In this lesson instructors describe how the exploding technological environment is affecting both buyers and sellers of goods.|
|The Political and Legal Environment of Marketing||A discussion about marketing environments wouldn't be complete without discussing the relevant laws and legal bodies impacting commerce: get it here.|
|Foreign and Domestic Business Competition: Definition and Regulations||Students get detailed instruction on how to factor competitors into an effective marketing strategy.|
1. Marketing Environment: External Influences on Marketing Strategy
What influences how a business sells its products - and itself? In this lesson, you will learn more about external influences that affect the marketing strategy of a business.
2. Marketing Environment: Internal Influences on Marketing Strategy
Sometimes the absolute best marketing plans run into problems. Occasionally, those problems come from within the company. In this lesson, we'll take a look at internal influences on marketing strategy.
3. Attitudes, Values & Belief: Social Factors in Marketing
Why do consumers make the choices they do? What causes them to purchase certain products? In this lesson, you will learn how the culture, attitudes, values and beliefs of consumers are the social factors that affect how marketers create a successful target marketing mix.
4. Consumer and Industry Reaction to the Market and Economy
Marketers have to understand the environmental factors that can affect a marketing plan. The economy has a dramatic impact on a marketer's overall strategy for pricing, product development, promotion and logistics.
5. Technology's Impact on Marketing and Marketers
How does technology impact marketing and marketers? In this lesson, you will gain a better understanding of technology, marketing and marketers and of how each one impacts the other.
6. The Political and Legal Environment of Marketing
In this lesson, you will learn about the political and legal environment of marketing. Learn which federal legislation, state laws and regulatory agencies have an effect on businesses.
7. Foreign and Domestic Business Competition: Definition and Regulations
Marketers have to understand the environmental factors that can affect a marketing plan. The competitive landscape has a dramatic impact on a marketer's overall strategy for pricing, product development, promotion and logistics.
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Other chapters within the UExcel Principles of Marketing: Study Guide & Test Prep course
- Introduction to Marketing
- The Marketing Process
- Marketing Information & Research
- Consumer Buyer Behavior
- Business Buying Behavior
- Marketing Strategy
- Products, Services & Brands
- Distribution & Logistics
- Promotion, Advertising & Public Relations
- Direct & Online Marketing
- Selling & Pricing Strategies
- Global Marketing Strategies
- Social Responsibility & Marketing Ethics