Internal and External Influences on Marketing Objectives

Question 1

What are the internal influences on marketing objectives and decisions?

Answer 1

• Overall strategy of the business
• Ambitions of managers
• The existing position of the business
• The amount the business can produce
• Finance
• The employees of the business

Question 2

What is meant by internal influence on marketing objectives?

Answer 2

Internal influences on marketing objectives and decisions refer to factors within the business such as employees and operational resources

Question 3

What is meant by external influences on marketing objectives?

Answer 3

External influences on marketing objectives and decisions refer to factors outside of the business such as the state of the economy

Question 4

What are the external influences on marketing objectives and decisions? (PEST-C)

Answer 4

• Political and legal environment
• Economic change
• Social change
• Technological change
• The competitive environment

Question 5

What is globalisation?

Answer 5

Globalisation refers to the increasing trade between countries and the growing internationalisation of businesses.

Question 6

What is the PEST-C model useful for?

Answer 6

Helps managers analyse the external environment of their business

Question 7

What is the PEST-C model?

Answer 7

• Political/Legal
• Economic
• Social patterns
• Technological
• Competitive