International marketing can be defined as the exchange of goods and services between different national markets involving buyers and sellers. Marketing mix is a combination of the factors that can be controlled by a given company to influence the consumers into purchase its products. Your products or services may lend themselves naturally to certain customer types. The most common factors are known as environmental, organizational, interpersonal, individual, and buyer factors. A study of factors affecting on customers purchase intention. Due to the lack of research in this area, there is a necessity to address this issue seriously. Factors influencing the formulation of effective marketing strategies. Among the factors affecting marketing strategic management, marketing. The marketing environment is continuously changing, as it consists of a number. Pricing product, external and internal factors affecting. Take the time to research these factors so you can tailor your marketing efforts accordingly. Factors affecting consumers buying behavior on selected milk tea stores towards obtaining sustainability. Outline the steps in developing effective marketing communications. The promotion mix is the blend of several promotional activities advertising, personal selling, sales promotion, public relations, direct marketing used by business to create, maintain and increase the demand for a product.
The financial position of the business profitability, cash flow, liquidity directly affects the scope and scale or marketing activities. In oligopolistic market, there are few sellers and buyers which are conscious about the pricing and other marketing strategies of competitors. The development of marketing strategy is fundamental to the success of any business. Price is the only element of marketing mix that helps in generating income. Factors influencing the promotion mix, communication. Pdf the purpose of this research is to evaluate the influence of marketing. There are also other important tools of marketing mix such as pricing, promotion and advertising, distribution channels, which the marketing management must. Basically two factors, which affect the company price decision and strategy. The items of marketing mix were measured on 5 point likert scale ranging from 1 strongly disagree to 5 strongly agree for assessing the marketing mix factor that affect the customers satisfaction. The factor of marketing mix including in the study were productsservices, price.
Identifying the essential factors in the marketing mix. The management should consider the consider the government laws and. This massmarketing strategy focuses on what is general in the needs of consumers rather than on what is different. Factors affecting promotion mix primary factors and secondary factors for effective marketing, more than one promotion tools are used in every day practice. Depending on what medium is used, marketers use the communication process to encode or translate ideas into messages that can be correctly interpreted decoded by buyers.
Besides, this research will be useful for students and future researchers intending to make further study in the same field of consumer behavior. A motivated and welltrained workforce can deliver market. The marketer should know the factors that influence the pricing decisions before setting the price of a. Factors influencing consumer behavior of smartphone users. Your marketing mix often provides a good framework for identifying the best customer segment. Factors affecting pricing as noted, the main reason for entering different markets is to increase the income and profitability. Some factors that affect the marketing of a product are. This refers to factors existing within a marketing firm. There are many factors which affect price in international markets. The following are some of the reason due to which it is inevitable to integrate the marketing communication of the organization. Coordination with other elements of marketing mix and a few others. The environmental factors that are affecting marketing function can be classified into. A comparative study of rural, semiurban and urban areas in and around chandigarh inderjeet sethi1 and as chawla2 abstract peoples behavior makes sense if you think about it in terms of their goals, needs, and motives thomas mann.
Explain the factors that affect promotion mix or marketing. Another factors affecting pricing decisions is oligopolistic. Pricing is considered as part of 4ps of marketing mix. Explain the methods for setting the promotion budget and factors that affect the design of the promotion mix. This difference in status sometimes affects the effectiveness of the communication process. Check the price hire a writer get help economic trends domestic and international trade competitive influence market structure competitive strategy competitive position social and demographic influences demographic. One of the key elements of a product, which enters in to a new market, is its price. Factors in setting the marketing communication mix 1.
It most commonly refers to the 4ps of marketingproduct, price, promotion and place. The results show the essential marketing mix factors in ppe. Creating a proper blend of promotion mix tools is one of the most critical decision for marketing managers. International marketing major factors tutorialspoint.
The factors affecting consumer purchasing and spending. Who determine the price structure of a product, top management, ceo, the entrepreneur, answer is no. These are the factors affecting sales of product due to interplay of broad economic, political, technological, and competition forces and can significantly affect the sales of the products of a company. One organisation can rely on television advertising and the other can remain dependent on the efforts of its sales team. Many factors, such as a firms marketing budget, the type of product, regulations, target customers, and competitors, influence what composes the promotion mix. Influence of cultural, social and marketing factors on the buying behavior of telecom users. Ace your next assignment with help from a professional writer. Marketing mix can be called a set of tools intervention in the market horovitz, 2003.
The offered products are either uniform or differentiated. Mix is a combination of factors that can be controlled by a company to. What is in control of a manager is the marketing mix. It is used to describe the combination of four inputs product, price, place, promotion which constitute the core of a companys marketing system. Various environmental factors affecting marketing function. For a services business in particular, the quality and capacity of the workforce is a key factor in affecting marketing objectives. Marketing mix is different elements of a products marketing plan which an. Therefore, a marketer should adopt a wellplanned approach for pricing decisions. Pdf factors affecting consumers buying behavior on. It is difficult for new seller to enter in the market.
It is used to describe the combination of four inputs product, price, place, promotion which constitute the core of a. Factors in setting the marketing communication mix group 10 2. External factors can also be termed as macroeconomic factors or market changes. Marketing mix refers to the set of controllable factors that a firm can use to influence the buyers response within a given marketing environment. Factors affecting the pricing decisions economics discussion. Marketing mix professor jerome mccarthy marketing mix early 1960s proposed consisting of four main factors product, price, place and promotion that each of factors contains multiple activities.
The global factors that are outside of the control of individual organizations, but that can affect the way that businesses operate can be considered as the global factors affecting the international marketing environment. The three factors that have a major impact in the marketing environment are given below. The study aimed at evaluating the impact of the factors influencing the formulation of an effective marketing strategy of chinese businesses operating in jordan. The sender and receiver of a message may be of equal status within a hierarchy e. What are the factors that affect marketing answers. They are also called as controllable factors, because the company has control over these. This mass marketing strategy focuses on what is general in the needs of consumers rather than on what is different. Factors affecting the marketing mix government exercises control and regulates the production and pricing of products, advertising and sales promotion. Marketing communication mixthe specific mix of advertising, personalselling, sales promotion, events andexperience public relations and directselling is called marketingcommunication mix. Influence of cultural, social and marketing factors on the. Organic, allnatural food sellers, for instance, typically target healthconscious food consumers with moderate to high incomes. It is the multinational process of planning and executing the conception, prices, promotion and dis. The marketing mix allows a marketer to better relate to the identified target market. The local and global economy has a direct impact on the success of your business.
Thus, the companys management and marketers invest a lot of time to establish pricing policies for international markets and customers. Factors affecting pricing decisions business study notes. There are many factors that impact on the decision in the development of. Social factors are the factors that affect ones lifestyle such as religion, family, and the buying potential, which can change over time. Integrated marketing communication strategy concept connections developing the marketing mix chapter. Internal and external influences on marketing objectives. Factors leading to integration of marketing communication. Certain economic marketing aspects, such as technology, inflation and interest rates affect customers purchasing power. The marketing managers are forced to select certain promotion mix tools advertising, sales promotion, publicity, personal selling. Consequently, the main purpose of this study is to investigate factors affecting on the purchase intention of bono brand tile customers. It is a common practice of combining various factors of promotion mix for efficient and better marketing management. These four factors can be controlled by a business to a certain extent. Factors that affect marketing and advertising studiousguy.