Please answer the following question: What environmental factors must be considered in analyzing companies and why do you think the factors you list are important? With respect to the discussion question, please make sure that your answer is grammatically correct and that you have checked your spelling.
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1. A company’s success is highly dependent on its marketing strategy. If there isn’t a clear plan, it can be hard to set meaningful goals and objectives. Macro environment analysis of the business’s operating environment will assist in determining the strategy’s outcomes when drafting a marketing strategy. Political, economic, social-cultural, technological, legal, and environmental factors that have an impact on business are included in this analysis.
We use PESTLE and SWOT analyses to look at the six major factors. All of the possible influences on business operations are taken into account by these tools for strategic analysis. It’s important to note that while SWOT analysis considers both internal and external factors, PESTLE analysis only considers external factors.
An organization’s growth, operations, and survival are all influenced by identifiable elements of the cultural, economic, demographic, physical, technological, or political environment known as environmental factors. The business may be affected by both internal and external environmental factors. Economic and technological factors are examples of external factors; however; A company’s values, goals, and internal relationships are examples of internal factors.
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