List the five environmental forces that impact marketing strategy and provide examples of each.
Following are the five environmental forces that impact marketing strategy—————
1. Natural forces—–As the natural forces defines about the physiscal environment , it shows the unavailability of natural resources hinders and effect the production output and in tern effect the company marketing strategy also.
2. Goverment policies————Goverment polices defines about the rules , regulations and laws that can effect the company in the long run. some of the goverment restiction on the import and export of the particular goods impact the marketer of that goods.
3. Top management———– Top management include board of directors, as it shows the amount of support the top mangement get from the middle and lower level of management, share holders ,that may impact the decions related to the marketing strategy.
4.Competition——–competition refers to the availability of the similar barand in their market and their market seize and their capital. all this not directly affect the marketers but indirectly it affect their future strategy as they have to monitor their activities and plan the strategy accordingly.
5.Social and cultural forces————The social and cultural forces relate to the structure of individua and the group and their behaviour , belifs, lifestyle etc. these forces can also effect the marketing strategy in the long run.