Economic and Political Factors

ECONOMIC FACTORS

1) Competition:-

A good and healthy competition brings in good and overall improvement in economic activities. It also brings good quality, good quantity and price.

2) Consumers:-

The consumer today is quite knowledgeable and choosy. His progress and well being should be the aim of any economic activity.

3) Price:-

Pricing is a delicate issue where it should be market friendly, not too high or to little. The marketers has to keep in mind to get descent returns on investment and effects of producers and marketers.

4) Ethical forces:-

Business minus ethical values brings degeneration. In the long run it brings problems. No standardization, exploitation and falsification are main ethical values in such organization.

5) Political forces:-

The government polices towards trade and commerce, internal taxation and preferential treatments have a influence on the marketing strategies. The marketing environment has to meet the political frame work in which a government is made to work.

6) Physical forces:-

The infrastructure availability for movement and storage of goods play an important role in the physical distribution of goods and reaching the consumers. Efficient and cheaper logistics helps the market in a big way.

7) Technological force:-

The fast changing science and technology gives a cutting edge to the marketing of products. The changes warrant changes in marketing , inputs and strategies. Faster and efficient communication and transport systems have speeded up marketer. The capital is made to work faster and harder

Political factors

The government have taken initiative for economic development of rural areas and have invested heavily in agriculture, irrigation, electricity, khadi and village industries and infra structure facilities such as roads, communication, hospitals, school, and banking. The initiatives certainly let to rural prosperity and opportunities for the marketers.