MARKETING MANAGEMENT

Marketing Management

[Name of the Institute]

Marketing Management

Question # 1

Answer.

Factors Affecting Business Industry

Supplier

For a business industry supplier provides the raw material. This is one of the major elements of business environment on the grounds that, it influences business very nearly. In the event that supplier defers to supply crude material or stop to supply. At this point processing of business industry might be ceased because of not getting raw material. Along these lines, for regulating this component, it is the obligation of business industry to make great connection with more than one supplier with the intention that, provided that one stop or delay at this point, merchandise or the goods might be obtained from other supplier.

Customers

Customers are those individuals or organizations which purchase products from the business. Business offers them his fulfilled and finished products In any case opportunity to time tastes of clients likewise changes. Along these lines, consistent with the taste of business clients, new items must be supplied by business. That is the equation for living long life of business (Thomas, 2007)

Market Intermediaries

In order to promote the sale, there is need for the advertisements, and therefore the business industries include the middle man and the sales man. The environment is under the control of the business as the start of the business is selling with more and more advertisements and therefore the selling will increase for sure.

Competitors

The internal environment of the business is created by competitors. Therefore, for the competitors policies of the business industries are being changed in order to win the competition.

Financial Intermediaries

As the business is growing, there is need for the money in order to grow up the business and therefore the money can be gotten by the issuance of new shares and also by the borrowing of the money from the financial institution or financial intermediaries. Therefore, these financial institution and financial intermediaries plays an important role in the environment of the business. If the loan is provided at low rate, and therefore the particular time being the business grows up rapidly, but on the other hand if the interest rate increases, then at that time the business industry would not get at this rate and therefore, its growth may be decreased because of the lack of available funds and resources (Frost, 2003).

Economical Environment

The economical environment of the business affects the environment of business industry through following ways.

Economic Environment

The policies that are being related to the budget, the policy of industries, the fiscal policy, the policy for export and import, and the business that must see what changes are to be done in them and there is need to change the policies of the businesses according to such changes (Bell, 2004).

Economic Regulations

There are different rules and regulations are present at an international level and national level. The business industry has to respect all such regulations in order to operate the business.

Natural Environment

It is an external factor of the business industry as the natural environment cannot control the business ...