This division of marketing research examines the political, economic, social and technological influences that may impact on a firm's marketing operations.
In the case of the political aspect of the environment, changes in government can affect trading conditions and these need to be anticipated on a worldwide basis. Clearly, the economic climate within which a business operates exerts an effect. These effects may be temporary or more permanent. Attention has to be
Categories of applied marketing research given to such influences when planning, and research helps to assess the impact of political and economic factors.
Social influences can also have a substantial impact on some businesses. Population explosions or declines directly influence the demand for certain goods. Research provides information on which factors are relevant and how they impinge on the organisation's activities.
Technological influences can have a sudden and dramatic impact on the fortunes of a business. A sudden technological breakthrough can make currently successful products and processes obsolete in a very short space of time. Research can monitor technological progress and provide advance notice of new developments.
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