Answer to Question #306789 in Marketing for Sanyo

Question

 

There are various elements in the business environment that you, as a strategist, can use to diagnose the source of the issue. Pretty & Clean does not exist in isolation to these factors and the firm’s current situation is proof of that. 

 

Select and research any five of the most relevant environments under the macroenvironment and examine how each of these had a crucial impact on Pretty & Clean’s current situation. In examining these environments, consider the impact of strategy and how the company’s mission and vision statements can help guide you in devising one. 

Answer 1

Answer

As Macroenvironment factors affect activities outside the business, they also have crucial impact on Pretty and Clean's Current situation as follows;

(a) The political and Regulatory Environmment- Federal, state, and local bodies can set rules or restrictions on the conduct of businesses. The purpose of regulation is to protect both consumers and businesses.

(b) The Economic Environment-Every day, marketing managers face a barrage of economic news. They must digest it, assess its impact, and alter marketing plans accordingly. Sometimes (but not recently), the news is cause for optimism—the economy’s improving, unemployment’s declining, consumer confidence is up. 

(c) The Competitive environment- Marketers who don’t pay attention to their competitors are playing a losing game. In particular, they need to monitor the activities of two groups of competitors: the makers of competing brands and the makers of substitute products.

(d) The Technological Environment-New technologies also transform the marketing mix in another important way: they alter the way companies market their products. 

(e) The Social and Cultural Environment- Marketers also have to stay tuned to social and cultural factors that can affect sales. The values and attitudes of American consumers are in a state of almost constant flux; what’s cool one year is out of style the next.