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    Seven External Factors That Affect Marketing

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    The marketplace is influenced by a number of different factors. In your own words, describe the seven external factors that affect marketing. Discuss the advantages and disadvantages of one external factor when it comes to marketing your product or service. Please provide references.

    Competitive Environment
    Economic Environment
    Political Legal Environment
    Technological Environment
    Socio-cultural Environment
    Demographic Variables
    Natural Environment

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    The marketplace is influenced by a number of different factors. In your own words, describe the seven external factors that affect marketing. Discuss the advantages and disadvantages of one external factor when it comes to marketing your product or service. Please provide References

    Competitive Environment:
    The competitive environment is the number and strength of competitive firms competing in the same market for a product. Each firm has a market share, which is their percentage of the market for that product.

    Economic Environment:
    The economic environment refers to factors in the economy, such as unemployment, interest rates and inflation that influence the purchasing decisions of consumers and organizations.

    Political Legal Environment:
    The ...

    Solution Summary

    This solution discusses the seven factors in approximately 400 words.

    $2.19

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