Marketing

Abstract

In the following assignment a marketing strategy will be discussed on the industry in which a product/ service operates. In addition methods of crushing the market threats will also be explored.

Marketing environment can be defined as” various external forces that can directly or indirectly affect the many activities of an organization” Econguru, (2010). Marketing plays a major role in our lives, it affect us one way or another. In order to prosper in a business the knowledge of marketing is an essential element for success. With competition in proximity managers need to look ahead and construct long term plans for expansion.

There are a few marketing environment forces that can impact a specific type of product (Bulletproof vest) or service. The three environment forces that can impact this product are: Political, Economical and Social. The first environment force that we are going to discuss is political environment. Political environment is made up of laws and bureau representing the government. The political environment will impact this product because of government regulations, for example if a company or business decides to sell the product to a convicted criminal, the company might be subjected to fines and penalties, because of the laws and penalties that prevents criminals to possess this type of product. Even though some regulation impacts businesses negatively there is also a bright side to it. Some regulations inspire competitors and guarantee fair markets for goods and services.

The political environment will also impact this product in the sense of keeping up with the adjustments in regulations for society, competitors and consumers. For example if bulletproof vests where allowed to be purchased by 18 year olds last year, the government might change the regulation, that requires the customer to be 21 years of age to purchased it, let’s say because of crimes committed by teen’s involving bulletproof vests. The...