Natural and Technological EnvironmentChapter 3: objective 3

Natural Environment

Natural resources that are needed as inputs by marketers or that are affected by marketing activities.

3 trends of Natural Environment:

1st trend - growing shortages of raw materials2nd trend - increased pollution 3rd trend - increased government intervention in natural resource management

Environmental sustainability

Developing strategies and practices that create a world economy that the planet can support indefinitely.

Technological Environment Forces that create new technologies creating new product and market opportunities

New technologies can offer exciting opportunities for marketers

Every new technology replaces an older technology

RFID (Radio Frequency Identification)

• Is a transmitter that can be embedded in the products you buy

• A technology to track products through

various points in the distribution channel

• the chain’s RFID stores require 20–30 percent fewer staff because employees

don’t have to spend five or more hours a day doing manual inventory checks