Environmental Factors Influencing Marketing
This study outlines a report on my views as a consultant on the environmental factors that will affect marketing of educational toys, EduTot in the five selected countries. The selection relied from the fact that they have the greatest potential to accept the educational toy products. Various environmental factors will be considered in the report, with an analysis of supporting details. The study will also capture a table encompassing the environmental factors that will affect marketing in these countries. The ratings in the table outline how those factors support the sale of the educational toys in these countries.
Environmental Factors impacting Marketing
Exporting is the best strategy that may be used in marketing the products of EduTot Company in the international markets. This is because it exposes the business to fewer costs, as compared to other entry strategies of getting to the international markets. The countries, with the greatest potential to accept the products of EduTot include Spain, Ireland, France, Morocco, and Venezuela. This is because of the favorable conditions in these markets, which provides a platform for EduTot to sell its products. In this regard, EduTot need to develop an in-depth understanding of the market conditions of these countries. This will be useful in helping the company to maximize on the opportunities available, and minimize on the risks of getting into these markets.
Indeed, just like any other business, the intention of EduTot to enter into the mentioned international markets, such as Spain, Ireland, France, Morocco, and Venezuela is to make profits. In other words, the important aspect that the company...
This is because high sales for the educational toys in these new markets results in exceptional profit margins of the company. However, the success of the company in selling the education toys in these markets will solely depend on the environmental factors in these markets. These factors include the economic state of the market, the political stability, and relations between the countries, the consumer culture of the people in these markets, the potential of the markets to expand, and the social and technological factors that support or bar business development (Ymbersky, 2008).
Environmental Factors impacting Marketing
FACTOR
Spain
Ireland
France
Morocco
Venezuela
The economic state of the market
Excellent
Good
Excellent
Good
Good
The political state and stability
Excellent
Excellent
Excellent
Excellent
Good
People's consumer culture
Excellent
Excellent
Excellent
Good
Good
The social factors
Good
Excellent
Good
Fair
Fair
The technological factors
Excellent
Excellent
Excellent
Good
Good
Spain has a strong market for EduTot products. The country has had an excellent social, economic, and political stability, which has made it score high GDP values exceeding €980 billion with a per capita.…
