Furthermore, companies may change various management strategies to adapt to these social trends such as recruiting older workers. This reveals the opportunities for the firm to grow its profits. However, these are all merely variations on a theme.
In the process to reconstruct its mission, company has changed its marketing strategy and sold successfully the home based products in the chain of UK market and its business in Egypt.
It is clear that companies need to know what is and what is not legal in order to trade successfully. New technologies create new products and new processes are created by modern technology. The manpower is aboutEconomic Factors Economic factors have a significant impact on how an organisation does business and also how profitable they are.
This is very important because even very minute differences in the environment such as cultural changes, legislative can be the difference between becoming the market leader and insolvency.
This refers to the purchasing power of potential customers and the ways in which people spend their money. These lifted demand, more so for medium and small sized cars. If the price has been reduced it is not easy to get back to the previous level without disaffecting the customers.
Legal factors The automobile industry in Europe is affected by restrictions and laws that are aimed at curbing pollution. These factors are important as they have a direct effect on how marketers understand customers and what drives them.
First of all, political factors refer to the stability of the political environment and the attitudes of political parties or movements. Legal Factors Legal factors include - health and safety, equal opportunities, advertising standards, consumer rights and laws, product labelling and product safety.
To gain the ompetitive advantage in its chosen sector the following marketing mix has been used. SWOT analysis provides all the information that is required to match the organisations capabilities to the competitive environment in which it runs. It is clear from the list above that political factors often have an impact on organisations and how they do business.
Include discrimination law, consumer law, antitrust law, employment law, and health and safety law. Furthermore, growing awareness to climate change is affecting how companies operate and the products they offer, it is both creating new markets and diminishing or destroying existing ones.
They may include demographics, age distribution, population growth rates, level of education, distribution of wealth and social classes, living conditions and lifestyle. Factors include employment legislation, consumer law, healthy and safety, international as well as trade regulation and restrictions.Macro-Environmental Analysis: PESTEL Political Factors One tool commonly used for carrying out analysis of a company’s external environment is the PESTEL analysis, in which the legal, environmental, technological, social, economic, and political factors are examined (Dockalikova & Klozikovap.
This section requires the analysis of the Macro environment (through the PESTEL model); the analysis of the Industry (through the Five Forces of Competition framework); and the identification of the main opportunities and threats. Information resources: The research has been based on industry and marketing information from Mintel, Verdict Research, and Fame, which has been analyzed using different strategic theoretical frameworks such as the PESTEL analysis, Porter’s completive forces and blue ocean strategies, among others.
Only after examine the nature of the marketing environment, The most popular framework examine the external environment is known as “ PESTLE” which stands for political,economic, socio-cultural, technological,legal and ecological environment.
PESTEL analysis of the macro-environmentThere are many factors in the macro-environment that. A PESTEL analysis is a framework or tool used by marketers to analyse and monitor the macro-environmental (external marketing environment) factors that have an impact on an organisation.
The result of which is used to identify threats and weaknesses which is used in a SWOT analysis. Company, competition and corporate partners - The role of the company is to understand its core competency and integrate it to whatever existing knowledge, facilities, patents, etc.
and apply that to initiatives to penetrate new markets and/or develop new products.Download