What Environmental Forces Are or Could Have an Influence on the Companys Success? What Are the Strategic Implications of Such Environmental Forces?
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What environmental forces are or could have an influence on the companys success? What are the strategic implications of such environmental forces?
The environmental forces below could have an influence on B.C Parker Companys success:
Demographic environment
Economic environment
Technological Environment
Legal/Political Environment
Competitors
THE DEMOGRAPHIC ENVIRONMENT
The demographic environment simply refers to the structure of the population such age groups, social classes, genders and the market segments. These factors could affect the success of B.C Parkers Company positively or negatively. According to the research analysis made by B.C. Parker, it was obvious that there was an increase in the number of household cat as pets in Canada. Now the question is, which age group owns most of these cats as pets. Is it the old age groups who find it difficult to change their brands they have used for long or the kind of youthful age groups who are ready to adapt to changes when they arise and they found out that the new product will be better? It will affect the company positively when the youthful age owns most of the cats in Canada because they are very adoptive to changes and will help increase the companys sales. However, if the majority of the owners are of the old age, it will tend to affect the sales of the company negatively since these people are not adaptive to changes they are used to.
THE ECONOMIC ENVIRONMENT
Economic factors such as unemployment, employment, recession and inflation could also affect the company positively or negatively. For example if the employment rate in Canada is very high, the real income of the citizens too will be high making the demand for cats food to increase as well. This will eventually increase the sales volume of B.C. Packer at the long run. However, if the unemployment rate in the country becomes very high, it will reduce the real income level of citizens in the country. This will reduce the purchasing power of these people of Canada and this will affect the sales of P.C Backer negatively.
TECHNOLOGICAL ENVIRONMENT
The level of technology also has an impact on the success of B.C. Parkas in Canada. These include how they use the media to advertise their product. How, customers can even get their product without necessarily coming to their shops, how the companys use their level of technology to brand their product in order to attract and meet the taste and preferences of the customers in Canada. From the case it was realized that B.C Parkers will be using their level of technology