Marketing Principles Essay Example for Free

Marketing Principles EssayIt is very important that an organization considers its environment before beginning the market process A marketing environmental analysis helps a business understand external forces that whoremonger affect it. The environment, or external forces, are often factors that a business cannot control, yet it is important to be aware of environmental concerns when preparing a marketing plan or introducing a new product to the market. The close to common method for preparing a marketing environmental analysis is to conduct a PESTLE analysis, which stands for Political, Economic, Social, Technological, healthy and Environmental. This covers all areas affecting a business.Political The first share of a PEST analysis is a study of political factors. Political factors are factors connected with the government and its activities. Politics affect organisations because governments introduces rules and regulations that organisations and their customers have to s tand up by. EconomicThe second element of a PEST analysis involves a study of economic factors. every businesses are affected by national and global economic factors. National and global interest site and fiscal policy will be set around economic conditions. The climate of the economy dictates how consumers, suppliers and otherwise organisational stakeholders such as suppliers and creditors behave within society. SocialThe third aspect of PEST Social is close to forces within society such as family, friends, colleagues, neighbours and the media. Social forces affect our attitudes, interests and opinions. These forces shape who we are as people, the air we behave and ultimately what we purchase. For example within the UK peoples attitudes are changing towards their diet and health. TechnologicalThe fourth element of PEST is technology, as you are probably aware technological advances have greatly changed the manner in which businesses operate. Organisations use technology in man y ways, they have -Technology infrastructure such as the internet and cry