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    Environmental Factors Affecting Marketing Decisions

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    Find an article published within the last two years that offers an industry forecast of global business conditions for an organization with which you are familiar. The organization must be one that makes both global and domestic marketing decisions. In 1,050 words write in which you evaluate the article concerning environmental factors that affect global and domestic marketing decisions. Address the following:

    a. Evaluate how the article's forecasts of high-level global and domestic environmental factors will affect the organization's marketing decisions.

    b. Evaluate how the article's forecasts of technological change will affect the organization's marketing decisions.

    c. Compare the author's perceived importance of social responsibility and ethics with at least three other alternatives, including your own, as related to the organization's marketing decisions.

    d. Finally, provide a conclusion on the accuracy of the articles forecasts, and identify what else you would look for to support your position in reference to your conclusions.

    Please include at least two references and, if applicable, use proper quotations, paraphrases.

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    Solution Preview

    If we look at the article published at Forbes.com by IMS Health Global Pharmaceutical Market Forecast 2009, we can find that the U.S. pharmaceutical market is to decline in the year 2009. Whereas due to higher percentage of overall growth in markets like China is all set to make it the world's third-largest market in year 2011 to come.
    According to the repot generated by IMS health the value of the global pharmaceutical market is expected to grow at a rate of 2.5 to 3.5 percent on a constant-dollar basis in the year 2009. This forecast is two percentage points lower than indicated in October 2008 last year. This deterioration is mainly due to the global economic environment that continues to affect market demand in 2009. According to the updated forecast from IMS health global pharmaceutical sales exceeding $750 billion for the year 2009. This value is 70 billion down from the forecast in October 2008. The environmental factor behind this decline is both the lower growth rate due to global economic slowdown and currency exchange fluctuations. IMS health suggests that the sector will feel the impact of the economic climate but to a lesser extent than many other industries through the year 2010, when a rebound in the economy is expected.

    The domestic as well as global environment such as patent expirations, a slowdown in innovative product launches, and hurdles imposed by payers on market access and acceptance will have a great impact on the pharmaceutical industry. Along with this some macroeconomic factors like GDP, consumer spending and government expenditures also keep a great importance to the pharmaceutical industry. GlaxoSmithKline has been affected by the problem of patent ...

    Solution Summary

    Industry forecast of global business conditions are discussed.