Clearly analyze the external influences affecting the development of the marketing strategy

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Clearly analyze the external influences affecting the development of the marketing strategy.

4.2

There are numerous factors that have an effect on BMW’s business and the consequences of its operations, a few of which are beyond the control of the Company. The following information below is an explanation of some of the mainly important factors that may cause the definite results of the Company's operations in potential periods to change essentially from those at present expected or most wanted. Additionally, there are 4 macro marketing factors, which all concern BMW's marketing strategy, and BMW themselves cannot change or influence them. These factors are: -

  1. Social

This includes changes in population, community attitudes e.g. smoke, drinking, organics, 'greens' etc.

This is perhaps the most complicated element of the macro-environment to assess, manifesting itself in altering tastes, purchasing actions and shifting priorities. The kind of goods and services demanded by consumers is a purpose of their social training and their consequential attitudes and viewpoints. Core intellectual principles are those steadfastly recognized within a society and are as a result hard to change. They are perpetuated through family, the church, education and the institutions of culture and act as moderately permanent parameters within which marketing firms are compulsory to run. Secondary intellectual values, however, tend to be less strong and hence are more likely to undertake change. In general, social change is preceded by changes over time in a society’s secondary cultural values, for example the change in social attitude towards credit. Today, offering instantaneous credit has become an essential part of marketing, with many of us frequently using credit cards and store financial records. Certainly, for many people it is regularly the ease of use and conditions of credit on hand that are major factors in deciding to acquire a particular product such as the BMW M3 Coupe was not the case only 20 or so years ago. These days, marketing firms have also had to act in response to changes in attitude towards health, for example, in the food industry people are now curious the interest of including simulated preservatives, colourings and other chemicals in the food they eat or eating heritably modified food. They beg to be excused in the reputation of smoking, which is a typical example of how changes in social attitudes have posed a significant threat to a business, forcing tobacco manufacturers to spread out of tobacco goods and into new areas of enlargement.    

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  1. Legal

This includes European Union laws, rebellious behavior, sponsorship of cars (Formula 1) by tobacco companies, minimum wage and tuition fees. Many of the legal, economic and social developments, in our own society and in others, are the direct result of political decisions put into practice, for example, the privatization of state industries or the control of inflation. Whatever industry the marketing firm is concerned in, changes in the legal and political environments at both the domestic and intercontinental levels can affect BMW and consequently need to be fully understood.  

  1. Economic

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