Principles of Marketing

The Marketing Environments

The Marketing Environments External Forces have a profound influence on

a company’s marketing activities. That is why a company needs to clearly understand its marketing environments and take marketing decisions accordingly.

The Marketing Environments The Market Demographic Forces Socio-cultural forces Politico-legal forces Economic Conditions Technology & Infrastructure Ecology

The Market Suppliers Manufacturers Intermediaries Competitors Customers

Demographic Forces Age groups Income groups Gender Ethnic Origin Geographic Dispersion Education Profession/Occupation Etc.

Socio-cultural Forces Values & Life Styles Social Stratification Fashions & Trends (e.g. Dress) Languages Cuisine Art & Architecture Literature Sports Festivals, Customs & Traditions Etc.

Politico-legal Forces The Executive The Legislature The Judiciary

Economic Conditions Stage of the Business Cycle Rate of Inflation Buying Power of the people Fiscal & Monetary Policies Etc.

Technology & Infrastructure Scientific & technological advancements Telecommunication Roads, bridges, and highways Electricity and other power generation

facilities Air ports, Sea ports, and Dry ports Dams Etc.

Ecology: The Natural Environment

Weather conditions Forests Soil & minerals Oceans and rivers Mountains Wild life & marine life Etc.