Question

Marketing managers create a marketing mix of product, place, promotion and price strategies aimed at a target market. While managers can control the mix, they cannot control the elements in the external environment that continually mold and reshape the target market. List and describe in DETAIL the six variables of the external environment that are not directly under the control of marketing managers.

Answer 1

There are following six variables of external environment that are not directly under control of marketing managers-

Ser.	External marketing environment variables	Details Expalnation with examples
1	Social factors/Variables of marketing	Those variables which are related to social aspects are called social factors/ variables.Social factors are perhaps the most difficult for marketers to anticipate. Several major social trends are currently shaping marketing strategies-Likepeople of all ages have a broader range of interests, defying traditional consumer profiles. Second, changing gender roles are bringing more women into the workforce and increasing the number of men who shop. Third, a greater number of dual-career families has created a demand for time-saving goods and services.
2.	Demographic trends/Variables of marketing	population-based factors such as age, race, and sex etc. are considered in demographic factors. Todat several basic demographic patterns are influencing marketing mixes.This is essential because different factions of the populace rely on different things and factors. Similarly, they have their own customs, traditions, and ways of living.
3.	Economic variables of marketing	Economic factors are related to economic trends related to marketing.Like-During times of recession, many marketers maintain or reduce prices to counter the effects of decreased demand; A couple will have greater purchasing power if both partners work.
4.	Technological variables of marketing	Monitoring new technology is essential to keeping up with competitors in today’s marketing environment. The United States excels in basic research and, in recent years, has dramatically improved its track record in applied research. innovative and technologically advanced products have become synonymous with better living standards.
5.	Political and legal variables of marketing	ll marketing activities are subject to state and federal laws and the rulings of regulatory agencies. Marketers are responsible for remaining aware of and abiding by such regulations. Some key federal laws that affect marketing are the Sherman Act, Celler-Kefauver Antimerger Act, and Hart-Scott-Rodino Act. Many laws, including privacy laws, have been passed to protect the consumer as well.
6.	Natural or physical variables of marketing	The physical environment includes factors like the accessibility of raw materials, water, climate, and environmental change. Our organization should implement its marketing strategy according to the constraints set by nature.We have to find the best use of resources to manufacture products which are accessible to all and sundry. Natural resources are exhaustible and therefore, we should use them carefully otherwise, we will eventually run out of them.

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