Business Case
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Every company global or domestic has external factors that exist that eventually have an effect on the companys operations. Some of these external factors can be controlled but a larger portion is uncontrollable and yet they can be managed and or influenced by the company. These specific factors make up the marketing environment in which a company has environmental factors that influence the companys decisions. In this paper, the author will explore the domestic and global environmental factors that could have an impact on FedExs marketing decision. The five environmental factors that the author will be discussing are social, economical, technological, competitive, and regulatory.
These five environmental factors are discussed at great length in the book entitled Marketing 8th Edition written by Roger A. Kerin, Steven W. Hartley, Eric N. Berkowitz, and William Rudelius. The writers define social forces as “the demographic characteristics of the population and its values” (Kerin & Berkowitz, Hartley & Rudelius, 2006, p. 74). Some of these demographic characteristics can include gender differences, buying patterns of consumers, culture, attitudes, and diversity. Economical factors are defined by the writers as anything that “pertains to the income, expenditures, and resources that affect the cost of running a business and household” (Kerin & Berkowitz, Hartley & Rudelius, 2006, p. 80). The writers also discussed technological factors as “inventions or innovations from applied science or engineering research” (Kerin & Berkowitz, Hartley & Rudelius, 2006, p. 83). The fourth environmental factor that is discussed in by the writers is competition, which refers to “the alternative firms that could provide a product to satisfy a specific markets needs” (Kerin & Berkowitz, Hartley & Rudelius, 2006, p. 85). A company has to consider
Global and Domestic Marketing Decisions
When businesses decide to expand through global marketing there are certain issues of concern, for example, where a product will be most productive with consumers or how to promote the product in another country and is the demand for the product large enough that it will bring in enough profits for the business. Marketers of a company must create a marketing strategy that will influence consumers locally but also internationally. For example, The Bank of North Carolina was a local bank but wanted to extend the company but needed a marketing strategy that would introduce the company to a global market. The best way to approach this situation was merger with one of the highest respecting banks in the nation Bank of America. From the merger it brought recognition to the local bank and also has consumers in other parts of the world. Merging with other well known establishments is one way of putting local businesses out on the market.
Global