What external environmental factors affect strategic
marketing decisions?
Introduction:
A strategic marketing plan combines selected, targeted marketing strategies with shared goals, while marketing alone is frequently aimless.
Answer:
External environmental factors that can impact strategic marketing decisions:
The external environmental factors are as follows,
Demographic factors: Different demographic influences, including region, nation, cultural characteristics, race, household lifestyle, educational level, age and trends, are typically influenced by different market divisions.
Legal and political factors: Sound marketing decisions should take legal and or political progress in the enterprise and its markets into account at all times.
Economic factors: Both the production of the organization and the decision making process of the customer can be influenced by the economic environment.
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