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iSeeit!: Macroenvironmental Factors

Changes in the marketing environment serve as a source of both opportunities and threats that need to be continuously monitored. A scan of macroenvironmental forces allows organizations to quickly identify trends and changes in the business climate that can significantly impact their marketing strategies. For example, Julie, marketing executive of Hope Springs, must consider how the external business environment impacts everything Hope Springs does as a business. Social and demographic trends, or changes in society and among consumers, have influenced the company's decision to focus on sustainability. Similarly, understanding the political and legal issues in countries that support clean water initiatives have helped Hope Springs define where to focus its sustainability efforts. Technology, which allowed Hope Springs to develop an innovative bottle design, also provides consumers with a means for finding the nearest bottle$-$filling station. All of these external environments, along with comprehension of the competitive landscape, are important considerations in the ongoing marketing activities of Hope Springs.

Environmental scanning is the process by which organizations continually acquire information about events that occur outside of an organization and can significantly impact the effectiveness and choice of marketing activities. Macroenvironmental trends impact consumers and the organizations that serve them and typically arise from six types of factors: demographic, social, economic, technological, cultural, and political$/$regulatory$.$

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