Mkt421 week 5 individual
Environmental Factors
Environmental Factors
Apple Inc. is a large corporation at the forefront of the electronics industry. It markets its products to both the business and consumer sectors of the market. The company has developed multiple lines of innovative technology such as computers, operating systems, and telecommunication devices. The company also produces diverse applications that enhance customer experience with their product line. These applications include workplace productivity, educational, health care, and personal uses. In order for such a large corporation to succeed in its industry, it must take into account many environmental factors that affect the successful operation of the company.
Global Economic Interdependence and the Effect of Trade Practices and Agreements
Regardless of the size of the company, the tangibility or intangibility of their product, or if the company operates in a domestic or international market, the basic approach to marketing processes will be the same (Virtual Advisor, Inc., 2009). The company must target a market that will buy the product, products must be created to fill a need, pricing must support sales of the product, and distribution must be achievable. There are various economic, political, legal, and social environmental factors that differentiate the global market from domestic markets (Bearden, 2009). Apple must account for this fact when formulating a marketing plan to enter the marketplace of a different country. Entry and growth in foreign markets comes with it new rules and regulations to be followed. In preparation for entry into foreign markets, Apple Inc. has registered or applied for trademark protection in a number of foreign countries (Apple Inc., 2011). If the company is to be successful, it must continue to assess the economic climate before developing within a foreign country. Considerations, such as physical, financial, and demographic characteristics must also be assessed before
Environmental Factors
Apple Inc. is a large corporation at the forefront of the electronics industry. It markets its products to both the business and consumer sectors of the market. The company has developed multiple lines of innovative technology such as computers, operating systems, and telecommunication devices. The company also produces diverse applications that enhance customer experience with their product line. These applications include workplace productivity, educational, health care, and personal uses. In order for such a large corporation to succeed in its industry, it must take into account many environmental factors that affect the successful operation of the company.
Global Economic Interdependence and the Effect of Trade Practices and Agreements
Regardless of the size of the company, the tangibility or intangibility of their product, or if the company operates in a domestic or international market, the basic approach to marketing processes will be the same (Virtual Advisor, Inc., 2009). The company must target a market that will buy the product, products must be created to fill a need, pricing must support sales of the product, and distribution must be achievable. There are various economic, political, legal, and social environmental factors that differentiate the global market from domestic markets (Bearden, 2009). Apple must account for this fact when formulating a marketing plan to enter the marketplace of a different country. Entry and growth in foreign markets comes with it new rules and regulations to be followed. In preparation for entry into foreign markets, Apple Inc. has registered or applied for trademark protection in a number of foreign countries (Apple Inc., 2011). If the company is to be successful, it must continue to assess the economic climate before developing within a foreign country. Considerations, such as physical, financial, and demographic characteristics must also be assessed before
References: Apple Inc. (2011). Annual Report Pursuant to Section 13 OR Fifteen (D) of the Securities Exchange Act of 1934. 26: October. Retrieved from http://files.shareholder.com/downloads/AAPL/1826229879x0xS1193125-11-282113/320193/filing.pdf Bearden Virtual Advisor, Inc. (2009). How to Expand Your Business Globally. Retrieved from va-interactive.com: http://www.va-interactive.com/inbusiness/editorial/bizdev/ibt/expand_g.html Wayne, L World Economic Forum. (2012). Global Risks 2012. World Economic Forum. Retrieved from http://www3.weforum.org/docs/WEF_GlobalRisks_Report_2012.pdf