Overview

Learning Objectivess

The objectives for this unit are to help the reader understand:

• the role played by each of the 6 environments in business
• that these 6 environments can in turn influence each other
• that being aware of changes in the environments can help one do business effectively

When the reader has completed this unit it would expected that they could read information about a marketing, business or international business situation and analyze this in terms of what environments are involved and how they exerted influence

The Ten Fingers of Marketing

A basic education in business and marketing at the college or university level gives the student an understanding of the 4P’s - things you can do something about and the 6 environment - things you cannot do anything about.

The 4P’s are things you can change - you can adapt the product, change the price, modify your promotion and move your place; but the 6 environments that effect business are not things you can change they are things you react to:

• Competitive Environment
• Economic / Financial
• Physical / Geographic
• Political / Legal / Regulatory
• Sociocultural / Ethnic / Linguistic
• Technological

Watch all the videos in a playlist