Identifying the major forces

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Identifying the major forces

Post  LoreneMellin on Mon Oct 25, 2010 11:37 pm

The beginning of the new century brought a series of new challenges. The steep decline of the stock market, with affected saving, investment, increasing unemployment, corporate scandals and the rise of terrorism. These dramatic events where accompanied by the continuation of already existing longer term trends that have intensely influenced the global landscape.

Within the rapidly changing global picture, the firms have to evaluate many factors such as the demographic, technological, legal and economic factors. Marketers should always be cautious about the interaction of all these factors as it leads to opportunities and threats. The growth of global brands across a wide variety of industries such as food, clothing, electronics likewise have made the producers to make wide plans with regard to the marketing and there by to search for quality and well versed groups or agencies looking for new models, with an aim to bring in a new trend and differentiation in the existing market.

Companies and there intermediaries, customers, competitors and public all operate in a macro environment of forces and trends that shape opportunities and pose threats. The forces of the environment seems to be uncontrollable, which the company must monitor and to which it must respond. In the economic ground companies and consumers are increasingly affected by global forces. The substantial speed of international transportation, communication and financial transactions leading to the rapid growth of world trade and investment have made the scenario tougher. The move toward market economies in formerly socialist countries along with rapid privatization of publicly owned companies, the rapid dissemination of global lifestyles and the development of emerging markets namely in India, China,the Arab countries and in Latin American countries have made the companies to have more geographical concentration.

LoreneMellin

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