As you read through this chapter, you should develop an understanding of the external considerations in marketing planning. Specifically, you should:
- Understand the importance of analyzing the organization's external environment and the impact that the external environment has on strategic marketing planning.
- Realize that marketing 0rganizati0ns often work with external agencies that perform some of these marketing activities. These agencies include distributors, retailers, market research suppliers, advertising agencies, and materials suppliers.
- Appreciate the external factors that have an impact on marketing activities, including external agencies, competitors, legal/ethical issues, economic/political issues, technology, and social trends.
- Relate these external factors to the marketing planning process.
- 5.2: External factors that affect planning
- There are many marketplace changes occurring that marketers cannot control but affect what marketers do. Faced with these environmental uncertainties, successful marketers will be those who recognize the changes that are occurring and who make effective adjustments. There are a number of external factors that constitute the external environment. Our approach is to attempt to present an all-encompassing view of the elements of the external environment.