Marketing Environment Factors of a Company - Essay Example

Economic forces. Forecasting economic forces are one of the major challenges for many organizations. Some of the market forces include changes in the inflation rate and economic recesses. Currently, the economic system is stable and the country is not experiencing economic changes. Our product is expected to make maximum sales in these economic times (Beckwith, 14).

Social forces. Social forces are also great determinants of the success of any business operation. Social issues are directly related to the customers, who are the end receivers of the product. Some of the social forces include the beliefs, cultures, customs, and traditions of people. Our product is targeting sportsmen and women in the university. Most of the students are multicultural and our product has considered this, coming up with a sugar-free product (Beckwith, 18).

Technological and Legal factors. For any organization to succeed in the contemporary market environment, then it should consider the technological issue. Our company has adopted computer technology in coming up with our budget and other strategic plans. Apart from technological, legal factors are also very import6ant because they determine the marketability of a product (Beckwith, 19). Our company has however fulfilled all the legal requirements, which include searching for an operating license and paying the required legal fee to the required councils.

Consumer-Buyer Behavior. Our target customers in this case are university sportsmen and women. According to Beckwith (22), all the stakeholders in any business environment are affected by these macro-environmental forces. An increase in the government tax will force us to increase our prices. This will, later on, affect the consumers. Social factors might also affect our customers because we have only decided to produce sugar-free drinks and there those sportsmen and women who prefer drinks full of sugar. By employing technology in our company, will effectively create a competitive advantage that will make us relevant in the market.

Segmenting/Targeting. According to Beckwith (24), the best method to start segmenting is by determining and analyzing the potential consumers. Different groups of consumers are what constitute segments. In our case, we have already started a strategy that will oversee that we attract as many consumers as possible. After identifying the customers, we will go ahead to deeply assess our competitors in the energy drink market. After identifying the customers, we will use our strategic advertisement and marketing plan to put our product on the market. After the segmentation process, we shall look for the best positioning of our product.

Our product is purely a sugar-free drink that will majorly target sportsmen and women in the university. The drink helps sportsmen and women to reduce fatigue and exhaustion. The energy drink is made up of vitamin D, C E, antioxidants, taurine, carbonated water, and caramel coloring. Apart from helping the athletes feel rejuvenated at all times while in the field, this drink is also healthy for other college students, especially after their lengthy lectures. The drink will be different flavors which include Energy blue, Energy green, and Energy orange.