Environmental Forces of Marketing

Environmental Forces

The three marketing environment forces identified for this type of product/service will include the following:

? Societal- Since marketing activities are a vital part of the total business structure, marketers have a responsibility to help provide what members of society want and to minimize what they don't want. Marketers are obligated to change products based on the changing needs of society (Brown, 1996).

? Economic-Marketers may need to adjust their marketing mix as the economy passes through different stages of the product life cycle (i.e. prosperity, recession, depression, recovery).

? Technology-From research performed by businesses, universities and non-profit organizations, consumers technological knowledge influences their desires for goods and services (Brown, 1996).

Marketing Strategies

Boost Consumer Confidence
Consumers are fickle and are frequently hesitant to buy a product they know little about. If a business or product are fairly new to the market, then marketers are compelled to create a marketing campaign that emphasizes the quality and value of the product on the market. The resulting boost in consumer confidence will likely translate into increased revenue generation (Gaebler Ventures, 2010).

Create Awareness
Another way to spark interest for a product or service is to conduct a campaign designed to promote in several ways. In other words, a marketing strategy could be to generate buzz by blanketing the local airwaves, print space, and other advertising mediums with your name, logo, and products (Gaebler Ventures, 2010).

Leverage Emotions
The buying decision is often emotional for many customers. Large corporations spend millions of dollars playing on their customers' emotions. The key is to create a campaign that will persuade consumers that the product on the market is the best option for family households (Gaebler Ventures, 2010).