What are the macro environmental factors in marketing planning?
The macro environmental factors in marketing planning are the external environmental factors affecting your business, in other marketing terms it’s called “External Marketing Audit”.
The macro environmental factors analysis means the analysis of the macro or external environment, which means the analysis from the upper view of the world to the environment, so you look to all of the factors that could affect your business except those related to your product or market; to see the economic levels of people you are going to implement your marketing activities in, to observe any political instability in the country you plan to implement your marketing plan in, see the technological use of the people you are targeted (if they updated with computers and technology or not), to see the air conditions and the environment of the country that you will market your products in and legal aspects of your products use in that country.
The macro environmental analysis or external environmental analysis is considered the 1st step in helping you as a marketer to write your marketing plan. So it’s important to understand everything about external factors affecting your marketing plan before thinking about marketing objectives, marketing strategies or marketing mix (tactics or 7P’s).
The Macro-Environmental Analysis or External Marketing Audit includes six factors that are called PESTEL Factors:
So each item is considered of a great importance to all of the marketers before they started to assess their products issues; strengths and weakness, before start branding their products (as making the logo, typography…etc), before they planned to make the advertising or conducting campaigns directly (integrated marketing communication). So they should determine the external environment first and see what is suitable for your products, assess the benefits and determine the risks of starting their business in the prospective marketplaces.
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