Macro environment variables affecting bp

What rules does it need to obey. Today, the pace of technological change constantly provides opportunities for new products. The skills and knowledge applied to the production, and the technology and materials needed for production of products and services can also impact the smooth running of the business and must be considered.

The environment which is not specific to a particular firm but can influence the working of all the business groups is known as Macro Environment.

That shift to the Internet resulted in new consumer needs and wants, opening the door for smart companies to take advantage of that opportunity. Social and Cultural Every nation has a set of core cultural beliefs that are passed from generation to generation.

In contrast, the countries of the European Union and the USA have to face an aging population already today.

Philip Kotler has stated that an interaction between the marketing environment and the company marketing system is very important as it affects the marketing strategies.

For example, if a retail seller is a reputable name then this reputation can be leveraged in the marketing of the product. The skills and knowledge applied to the production, and the technology and materials needed for production of products and services can also impact the smooth running of the business and must be considered.

The same holds true for geographic areas. A recent example of this is the environment and how many sectors are being forced to review their products and services in order to become more environmentally friendly.

It includes the relationship between the State and business units, regulation of monopoly, protection of consumer interests, licensing policy, commercial and industrial policies, and so on.

Macroenvironmental Forces Affecting Marketing

In nutshell, all the variables of macro-arid microenvironment intersect and interact continually and no one single variable alone influences the marketing decision variables.

Something may be ethical but not protected by law, whereas otheractivities may not be ethical, but are legal. Technological The development of new technology can dramatically affect needs and wants. If your customers use disposable income to buy your product, knowing where you are in the economic cycle helps you plan production.

So, they are more complementary rather than contradictory. On an international basis, it is best to perform the analysis on a country-by-country basis because factors can differ greatly between countries or even regions.

It consists of individuals, groups, organizations, agencies and others with which the firm deals during the course of its business. It includes social and cultural changes like late marriages, postponing having children later in life, education, health care, and so on.

Social and cultural forces: The microenvironmental factors are controllable by the business. Socio-cultural factors represent the culture of the society that an organization operates within.

The Impact Of Micro and Macro Environment Factors on Marketing

For example, laws covering issues such as environmental protection, product safety regulations, competition, pricing etc.

Watch population shifts to see if the populations in cities, suburbs or rural area are changing to determine if segments of the population are leaving one area for another. In nutshell, all the variables of macro-arid microenvironment intersect and interact continually and no one single variable alone influences the marketing decision variables.

Macro Environment Factors Demographic forces:.

Marketing Environmental Variables and their Effects | Marketing Management

External Environment Affecting Bp. Chapter 4 The External Environment The Environmental Domain Organization Environment is composed of all elements that exist outside the boundary of the organization that have the potential to affect all or part of the organization.

Its domain is the chosen field of action. The environment comprises several sectors or subdivisions of the environment.

The Macro Environment – Six Forces in the Environment of a Business

Macro-environmental factors affecting BP Political Environment British Petroleum has held back its dividend payout to its prime stakeholders as they had been under pressure from the United States government regarding the oil spill that had occurred in the Gulf of Mexico.

Micro- as well as macro-economic factors influence the economic activities of such complex company networks. The influencing factors can be seen from the internal point of view of a company, defined as the so called micro-economic factors (Mussnig41) and from the outside point of view, the so called macro-economic factors (McCarthy.

Macro Environment Factors Demographic forces: Different market segments are typically impacted by common demographic forces, including country/region; age; ethnicity; education level; household lifestyle; cultural characteristics and movements.

Micro and macro environments have a significant impact on the success of marketing campaigns, and therefore the factors of these environments should be considered in. 4 Nahid Mohsen Pour Part I: Macro Environmental Analysis of BP business in the USA after the Gulf of Mexico Oil Spill According to (Kotler P., ), Macro environmental analysis is find out the external forces that affect a company to produce and sell, which are consisted of Political, Economical, Social, Technological, Legal and.

Macro environment variables affecting bp
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Micro and Macro Environment Factors | Oxford College of Marketing Blog