Technical factors affecting Internal Marketing Analysis
There are 4 business factors affecting internal business environment in marketing plan; managerial factors, competitive factors, financial factors and technical factors.
Before you read this article, you need to understand what are the internal environmental factors in marketing plan?
The technical factors are the factors that affect your business from the technical points of view. The following are the main issues that you should consider in your technical audit:
- Technical and manufacturing skills.
- Strength of the patents.
- Intensity of labor.
- Economy of scale.
- Application of new technology.
In the revolution of new technology and technological improvements in products and services, this leads to a real focus from marketers on technology as one of essential internal business environmental factors affecting marketing planning process.
In the knowledge economic forum 2008, Professor Michael Porter (who developed Porter’s Five Forces theory) that he and his colleagues were working on a proposal to introduce a Six force to Porter’s Five Forces, and that Sixth force was the technology, which means how much the technology is an essential element in micro environmental analysis of your marketing plan. Read the article I wrote about technical factors affecting external business environment in marketing plan.
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