Identify external environmental factors and asses their potential
impact on the marketing mix Summery: The organisations marketing strategy should be focused on meeting needs and providing benefts. The four !s focus on the customer and emphasise the variables "hich the marketing manager can control over time. There are # category!s that macro$external full under %ultural and social environment olitical and legal environment &conomic environment &xisting business structures The political and legal environment encompasses the felds of political science' history' philosophy' la" and economics. The economic environment encompasses the felds of economics and business administration' as "ell as the natural sciences and engineering. The existing business structure refers to the competitive situation the business is situation "ithin the boarder market. (o" that )ustralia!s in the middle of a recession * marts getting +uite a lot of business ,ith people trying to save as much money as they can -./. (o" that )ustralia!s population is getting "iser and "ont pay ridicules prises for named brands they are tending to go "ith cheaper and less sort after brands "hich *mart has a numeral si0e of. This afects the marketing mix buy making products even cheaper and easily excisable' "hich "ill put more strass on the market to drop the price of clothing and home' "ears 1efrences : http:$$""".ne"s.com.au$money$david2and2libby2koch$david2libby2 kochs2yearly2forecast$story2fn3kicty2.4456677#897. :4.$6$49.7 -./ . Francis Schefer Identify consumer priorities' needs and preferences and the "ay they impact the marketing mix Summery: ,hat are the consumers expectation ,hat are their needs and preferences ;o" do these afect marketing mix %ustomers priorities' needs and preferences can include: 1e+uired or preferred products$services rofered price point referred purchase volume in units and dollars referred method of payment referred time and place to take delivery In person: for example' door2to2door representatives "ith special ofers on ne"spaper subscriptions. <y mail. For example' receiving an invitation to =I night at a store they have previously purchased electrical goods from. >ver the phone: for example' and electricity provider calls ofers to compare a consumers current rates "ith their o"n. >n the internet: for example' a "ebsite that mentions a special event or ofer "hich can be redeemed via online shopping. *mart uses the four s in the marketing mix in diferent "ays for example promotion is use +uite often "ith commercials and radio advertising plying in big named time slots such as the voice. rice is determent by ho" often people "ant there clothing -like %hristmas sales etc./ it is also used to dra" customers into the shop. This is done "hen they see a nice pair of ?eans for there kids and "alking into see "hat the price is. roduct is used to sho"s the +uality of item you are purchasing. lace *mart base there stores in rural areas to get the customers a"ay from the opposition this also is convenient for the customer 4