A welldeveloped explanation 1 Discuss the external environme

A well-developed explanation.

1.  Discuss the external environment of marketing and explain how it affects a firm.

2. Identify the impact of technology on a firm.

3. Discuss the political and legal environment of marketing.

Solution

Answer 1: The external environment of marketing consists of all the outside factors that impact the day to day operations of the organization. Therefore in today’s business environment, the organization must customize them in order to keep up the flow of the operations.

Types of External Environment:

Below are the factors which affect the organization:

Answer 2: Below are the impacts of the technology on a firm

Answer 3: The political and legal environment of marketing in a country formalizes the policies for implementation and execution / control of business. In today’s time, whenever there is a shift in the political scenario of the country, eventually changes the economic policies. Secondly the political environment changes the philosophy of political parties, ideology of government, foreign / military policy.

In addition to it, the legal environment refers to the principle, terms and conditions established by the law of the land which in turn will be applicable to the citizens of the country. These regulation are developed by the various legislations which in turn can be amended by globalization of the economy.