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Two aspects of marketing that marketers have to understand and work. These two factors can be influenced by the factors, which are known as the four Ps of marketing; price, promotion, place and product, and uncontrollable factors, social, economic, technological, regulatory, and competition. complete control of an organization of controllable factors, however, what happens when a company is faced with the uncontrollable factors:
The five environmental forces
1. Social
2 Economy
3. Regulatory
4. The competition
5. Technology
An example would be such a factor; changing consumer needs and wants (social) changes in technology (technology), in which the government of the new regulation (control), the state of the economy (economic), and a competitor from entering the market (competition). The marketing manager has two options, work for or against these factors. The success of companies is determined by how effectively manage these factors when they occur.
For example, we know that destroyed their phones because mobile (technology) so that companies who offer home service needs to change or stop selling the service. The change in the marketing mix (four P) tends to make the most of the body to adapt to this new change. We now know that a house phone $ 9.99 per month (price), while most cell phone plans start at around $ 40 per month. A domestic service company to adapt to the changed technology (uncontrollable factors) by changing the four P (controllable factor). They understood that the change in technology, something is over, and there was nothing they could do to stop the changes from occurring. This is where the huge marketing planning and forecasting.
However, the planning and forecasting is only part of the total equation when it comes to facing these factors have been discussed in this article. The Internet has become a great resource for people to find what they are looking for. However, it has also changed the way we understand these business and environmental forces and taking advantage of the way the Internet is used, it is far ahead of the curve when making the necessary adjustments to ensure that the business remains a float.
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Source by Charles Rivers