Environmental Factors Paper

Environmental Factors Paper

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MKT 421

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Environmental Factors Paper

Careful and deliberate consideration of numerous environmental factors that impact the organizations’ marketing decisions is a must for any organizations that operate in the vast global marketplace (domestic and international) with the aim to serve diverse consumer needs, wants, and demands. Meticulous and in-depth analyses of the target regional markets are crucial prerequisite in capturing the necessary market insights that are the basis of an effective marketing plan. Shortly after its humble beginning in Bentonville, Arkansas, Wal-Mart has since become one of the world’s most recognizable retail leaders by successfully entering the global marketplace and operating its business with brutal efficiency and fierce enthusiasm. Wal-Mart has enjoyed great financial success mainly due to its diverse marketing strategies and tactical plans that served and satisfied the target consumers for a long time. Wal-Mart’s considerations of the external factors in providing the core product line of household items along with the heavy machineries, small to large appliances, groceries, and personal supplies to different regions of the world with the local demand insights in mind have proven that its consumer-oriented marketing plan has served each community of the international business landscape well, as evidenced by 8,969 world-wide stores, and counting (Walmart Corporate, 2011). Environmental factors that affect multinational companies: global economical interdependency, the trade practices and agreements effects, cultural differences, political systems, international relations, and Foreign Corrupt Practices Act all must be thoroughly analyzed. Examinations of the importance of demographic and physical infrastructure, social responsibility and ethics versus legal obligations, as well as the emerging technology that can impact the organizations’ marketing decisions are...