External and Internal Influences on Objectives and Decisions (AQA A-Level Business): Flashcards
📚Flashcards
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Practise the cards
10 cards from this deck
Marketing objectives
Marketing objectives
Targets the marketing function aims to achieve
External influences on marketing
External influences on marketing
Factors in wider environment businesses can't control
Internal influences on marketing
Internal influences on marketing
Factors within business that can potentially be changed
Growing vs static markets
Growing vs static markets
Growing = ambitious objectives; static = maintain position
Higher interest rates effect
Higher interest rates effect
Make borrowing expensive, saving attractive, reduce spending
Social factors influence
Social factors influence
Consumer tastes and preferences constantly evolving
Technology impact on marketing
Technology impact on marketing
Opens new markets via online sales and mass customisation
Finance available constraint
Finance available constraint
Budget allocated to marketing constrains objectives
Production capacity importance
Production capacity importance
Operations must support any sales growth targets set
Innovative vs mature products
Innovative vs mature products
Innovative = growth scope; mature = limited growth potential