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Principles of Marketing - Case Study Example

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This paper 'Principles of Marketing" focuses on the fact that marketing has become a highly aggressive process in the current era of advanced technology. People have easy access to both the best quality products/services and to the up-to-date information about numerous alternatives. …
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Principles of Marketing
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Download file to see previous pages The current socio-economic scenario compels organizations to review their marketing techniques. In order to update marketing, organizations have to conduct frequent marketing researches. The first part of this paper tends to discuss the major trends in the firm’s natural and technological environment. In the second part, I will describe the common steps in the marketing research process.
The natural environment is one of the macroeconomic factors that influence the ability of a firm to operate it successfully. The firm’s natural environment usually shows certain trends associated with the use/availability of raw materials and natural resource management. Organizations often confront with restrictions on natural resources management or in the supply of raw materials. Therefore, in order to overcome the unfavourable situation organizations should be cautious about the possible changes. The raw material is the essential element for the operation of an industry. Industrial operators usually locate their production unit close to the best accessible source. However, various factors like shortage of raw materials, governmental intervention, and growing environmental concerns etc, can create an unexpected crisis in business operation.
To illustrate, environmental concerns have been growing all over the world in response to global warming and climate change. Exceeding the level of industrialization and over-exploitation of natural resources has been considered as the cause of this environmental collapse. Therefore, governments and various national and international organizations have initiated strong control over industrial operations. Business entrepreneurs have to comply with numerous regulations of pollution, waste disposal, and resource management. For instance, in India, the central and state governments have enacted numerous regulations associated with natural resource conservation program and eco-tourism.  ...Download file to see next pages Read More
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