GEN COMBO M:MARKETING; CONNECT 1S ACCESS CARD
GEN COMBO M:MARKETING; CONNECT 1S ACCESS CARD
5th Edition
ISBN: 9781259896767
Author: Dhruv Grewal Professor, Michael Levy
Publisher: McGraw-Hill Education
Question
Book Icon
Chapter 5.4, Problem 1CY
Summary Introduction

To determine: The six key macro-environmental factors.

Introduction: Real outside and uncontrollable factors that impact an association's basic leadership, and influence its execution and procedures. These variables incorporate the financial, socio-economics, legitimate, political, and social conditions, innovative changes, and characteristics power is termed as macro-environment.

Expert Solution & Answer
Check Mark

Answer to Problem 1CY

The six key macro-environmental factors are culture, demographic, political/ legal, social, economic and technology.

Explanation of Solution

Following are the six-macro-environmental factors are discussed below:

  • Culture: The test for advertisers is to have items or administrations identifiable by and pertinent to a specific gathering of individuals. Different societies impact what, why, how, where, and when the consumer purchase. Two measurements of culture that advertisers must consider as the company build up the promoting procedures are the way of life of the nation and that of a district inside a nation.
  • Political/legal: The companies must understand various laws and legislation, in order to obey with any regulation dealing with the consumer protection, fair competition or industry-specific regulation.
  • Economic: The general economic situation prevailing in the home country as well as abroad is analyzed as it will influence the buying pattern of the consumer.
  • Demographic: Demographics indicate the human populations and segments, especially the consumer markets.
  • Social: By keeping in mind the consumer’s health and wellness as well as the privacy concerns, consumer’s value can be shaped.
  • Technology: The value is added to the product by improving the quality of the goods and services.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
Search entries or author... All < ↓ Sort View Split Screen Expand Threads You must post before seeing replies. Edit history will be available to instructors. No Due Date 10 points possibl 25 Replies, 25 Unread Week 9 Discussion: Intercultural Communication Write a 200 - 300 word discussion post based on the prompt below. Reply to at least one other student in 50 - 100 words. Describe a time in which cultural norms and expectations and prevented clear communication. What have you learned from the experience? How can we be more accepting and inclusive of other cultures? Reply Previous Q Search hp Nex 8:32 1/7/2
Answer? ? Financial accounting
You will be presented with a situation showing the details of how a company is currently working, a manufacturing plant with various stand-alone computers and printers, and you will research and determine the best configuration to help the manufacturing plant network their computers and include connections to the Internet for all computers. You will need to explain and support the decisions and be able to explain how the changes will benefit the manufacturing plant, including describing how the changes will be managed and implemented.

Chapter 5 Solutions

GEN COMBO M:MARKETING; CONNECT 1S ACCESS CARD

Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Text book image
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Text book image
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning
Text book image
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing