“The process of continually collecting information from the external marketing environment.” Marketers must be aware of the...

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General Management

“The process of continually collecting information from theexternal marketing environment.”
Marketers must be aware of the surrounding environment whenmaking marketing mix decisions. The external environmental factorsthat marketers need to evaluate are: 1. Competitive 2. Economic 3.Social/cultural 4. Technological 5. Political/legal.
For each of these products describe how 2 of these environmentalfactors can or will affect the marketing of theseproducts. For each product you need to discuss2 different environmental factors, that are listedabove, and how each one will affect the marketingof these products.
Cars
Clothing
Electronics
Travel/Vacation

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Cars Analysing external market factors can be done through PESTLE Framework which stands for political economical social technological legal and environmental factors Now we shall describe the factors which might impact the marketing of cars Automobile industry 1 Competitive On speculating the global business environment we can see that various low cost manufacturers to premium car maker are competing to attract new customer A minor shift in one corner of world might increase or decrease the level of competition in a particular country 2 See Answer

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