M Marketing
6th Edition
ISBN: 9781259924033
Author: Levy Grewal
Publisher: Mcgraw-Hill
expand_more
expand_more
format_list_bulleted
Question
Chapter 5.4, Problem 1PC
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
Answer to Problem 1PC
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
Define Environmental factors?
What are socio economy issues
All of the following are examples of social environmental factors except:
Human relations
Education
Family
Wage level and structure
acen
E10
Chapter 5 Solutions
M Marketing
Knowledge Booster
Similar questions
- Name any two services regarded as social indicatorarrow_forwardExamine the impact of occupational diseases, stress and communicable diseases to the health and safety in an organizationarrow_forwarddescribe how each has influenced your career in public health Economic factors Social and cultural factorsarrow_forward
- Choose one domain from the Social Determinants of Health: Economic stability Neighborhood Education Food Community/Social Support Healthcare System For the chosen domain, speak to each of the following: Diversity, Equity, Inclusion, and Justice.arrow_forwardExplain with the help of graphical representation Actors in the microenvironment?arrow_forwardHow do pandemics such as Covid 19 impact consumer behavior?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Contemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage LearningMarketingMarketingISBN:9780357033791Author:Pride, William MPublisher:South Western Educational PublishingFoundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
- Foundations of Business - Standalone book (MindTa...MarketingISBN:9781285193946Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning