Environmental Factors Affecting Marketing Decisions
June 10, 2011
University of Phoenix
Harry Derderian
MKT/421 Marketing
Environmental Factors Affecting Marketing Decisions Management is faced with many decisions when considering the environmental factors that affect marketing. This includes global economic interdependence, demographics, cultural differences, social responsibility, ethics, and technology. It is imperative for a company to understand how these factors can greatly affect the outcome of a company’s marketing plan. Today’s globalization of companies has led to an economic interdependence that influences the decisions that companies make. A global economic interdependent environment is when the economies of many
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PepsiCo often chooses to use locally grown food sources for producing its snacks which aides in profits, and helps the local economy. By understanding the demographics of the local economies, PepsiCo is not only helping its production, but also its marketing.
Cultural Differences Cultural differences between nations often require a company to have multiple marketing strategies. What may be acceptable in on country may not be acceptable in another country. The cultural differences require companies to develop marketing plans that are suitable for each individual culture. Not being aware of and understanding the cultural differences can create costly and embarrassing errors that may actually offend those in other countries. Cultural differences can affect the colors of products, the graphics used on packaging, and how the product is communicated to the foreign target market.
Social Responsibility
Every company has a responsibility to support the society it serves. This indicates that a company that wishes to truly thrive in a market should not just follow the business and consumer laws of the country but take an active interest in the community that it serves in each country. Today’s global market is led by companies that concern themselves with the sustainability of the company and its products, as well as the continual improvement of the
The objective is to successfully convert the United States Army Medical Department from EMR to AHLTA. There are trainers that are set in place to ensure that the staff receives their full attention and that they also feel comfortable with the software. The outcome of this would be to have the ability to easily communicate electronically regarding
Cathy, i know very little about last year's doings of the board but I can answer some questions. The way we do minutes now is I make draft and send to members. I think all homeowners should be able to see the DRAFT and submit changes, especially if information personally involves a homeowner. Then if changes I do that. We ok minutes by email. Then send out when in agreement. That way minutes are not a month behind. If you include a message along with the DRAFT that any changes need to be submitted at least a week prior to the next Board Meeting, the Minutes wouldn't be a month behind. Just include a sentence in the current month's Minutes that last month's Minutes were corrected as noted; and then remove the DRAFT watermark before saving it.
Riordan Manufacturing is a global plastics manufacturer and is a subsidiary of Riordan Industries. Riordan Manufacturing has three main production facilities located in Georgia, Michigan and Hangzhou, China. This paper will focus on the manufacturing business and supply chain activities of the electric fan production in Hangzhou China with information on manufacturing strategy, production performance, supplier relationships, forecasting and inventory.
As stated above Microsoft issued a temporary fixit tool that can be applied to 32-64 bit
Determine which level of measurement— nominal, ordinal, interval, or ratio—is used in the following examples.
Riordan Manufacturing is a global plastics manufacturer with facilities located in: Albany Georgia, Pontiac Michigan, Hangzhou China, with a research and development department located in San Jose California. This establishment has produced an annual earning of forty-six million dollars. Riordan Industries, which is the sole owner of Riordan Manufacturing, is a Fortune 1000 enterprise with revenues in excess of one-billion dollars.
In January of 2010, Tampa Bay Online published an article stating that Youth Research, Inc. had defrauded federal regulators in the company’s safety testing reports. The article claimed that Youth Research, Inc. had been hired by various lighter manufacturers between 1994 and 2005 to conduct child safety tests on the lighters (Silvestrini, 2010).
Getting oneself out on the market is the most important part of getting a new job. In order to do this, a person must market themselves. In order to properly market themselves, a potential candidate has to know the resources in which to present themselves as good employee material. It is always a good idea to have a plan in place of the places that employment is desired. Then research those companies and determine what the best way to present a resume is. It is always a good idea to research the companies to begin with in order to come to a good determination as to whether or not this
However, as much as the interview section is familiar to me, editing the interview to be released on the newspaper according to the newspaper's terms as well as the editor's instructions were not simple. No one can share neither a headline on their website nor can publish a story on the local newspaper without the editor's confirmation. During the process of editing the story, Yasemin who is the editor of the London Turkish Gazette gave me tips on how to approach writing the story, what type of key terms and structure to include. In my opinion, Yasemin's advice were incredibly useful and I had to see how challenging her role is when she is paying attention to details, grammar, accurateness of the stories, and having a counterbalanced story at the paper. According to Yasemin: " Any mistakes at the paper will potentially put the success of the Gazette and Hey Print into trouble, and the consequences
The expectation that businesses behave responsibly and positively contribute to society all while pursuing their economic goals is one that holds firm through all generations. Stakeholders, both market and nonmarket, expect businesses to be socially responsible. Many companies have responded to this by including this growing expectation as part of their overall business operations. There are companies in existence today whose sole purpose is to socially benefit society alongside businesses who simply combine social benefits with their economic goals as their company mission. These changes in societal expectations and thus company purpose we’ve seen in the business community over time often blurs the line of what it means to be socially
or so many years our society has been thinking of forming new creative and innovative businesses, which would be more environmental and customer friendly. Nowadays a large number of different companies follow the social, ethical, as well as moral consequences when it comes to their decision making. One of the relatively new concepts involving economic and social concerns is Corporate Social Responsibility. Many of us apply this approach not only at work, but also in everyday life without even recognizing.
Corporate social responsibility has been one the key business buzz words of the 21st century. Consumers' discontent with the corporation has forced it to try and rectify its negative image by associating its name with good deeds. Social responsibility has become one of the corporation's most pressing issues, each company striving to outdo the next with its philanthropic image. People feel that the corporation has done great harm to both the environment and to society and that with all of its wealth and power, it should be leading the fight to save the Earth, to combat poverty and illness and etc. "Corporations are now expected to deliver the good, not just the goods; to pursue
Companies today are heavily influenced by the demands of customers and stakeholders. Corporate social responsibility (CSR) refers to the social and environmental responsibility policies and practices developed by an organization to increase its positive influence and reduce its negative activity towards society (Parks, 2008). The business approach and corporate philosophy of an organization is easily altered due to economic pressures, technological improvement and stakeholder needs and demands. "Going green" or being eco-friendly is one such demand. Environmental and sustainability concerns originate most often from governments, consumer activists, and the general public (Schlosser, 2008). Thus, organizations must implement sustainability into daily practices. In addition, sustainability alters the nature of competition and drives companies to think differently about products, processes, and technologies (Parks, 2008).
The economic and social factors play a crucial role in determining monetary climate that the business operates in and the nature of consumption habits that prevail within that particular area concerning lifestyles. These social aspects help a business organization to evaluate potential changes brought about by their products in the market. Evans and Richardson (2007), insist that an enterprise must factor in technological solutions that it can introduce within the market it seeks to establish itself and research initiatives it can introduce to help improve its operations. The environmental factors should be assessed to establish potential impacts of the activities carried out by the organization in the environment. It is important for any enterprise to be familiar to all
Global interdependence never really crossed my mind when thinking about company’s and what they must go through. As I acquired knowledge about globalized companies in other classes, I never dove this deep into it like this class. Overall, this class has taught me a great deal about all aspects of a company from the management standpoint to the logistics that go into getting products to where they need to go. Global interdependence is a huge topic in every company and is a topic that must be perfectly in sync with the company’s beliefs to be successful overseas. Global interdependence includes changes, interconnectedness, and diversity.