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MGT301 Principles of Marketing Assignment 01 Fall 2020 Solution / Discussion

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MGT301_Assignment_No_01_Solution_Fall_2020

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MGT301_Assignment_No_01_Solution_Fall_2020_

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MGT301 Assignment#01 Solution fall 2020

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MGT301 Assignment 1 Solution Fall 2020 | MGT301 Assignment 1 (2020)

MGT301 Assignment 1 Solution Fall 2020 | MGT301 Assignment 1 (2020)

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Principles of Marketing (MGT301)  Fall, 2020 Assignment No.1

Due Date: December 09, 2020.

Total Marks: 10

Weightage: 05

Topic: Macro Environment  Analysis

 

Case Study

ABC Company deals in electronic equipment. Recently the Company has developed a new tablet computer that has significant advantages over other products of same category in the market. Its features are:

  • Screen size 10.8
  • Display Resolution
  • RAM Size 6 GB along with a slot for additional
  • Hard Size 128
  • It has an additional battery and 3 USB ports.
  • A sound processor and speakers.

 

The ABC Company is striving to sale their new products to retailers and consumers both. But before launching in the market the Company needs to make macro environment analysis.

Your advice is required to assess that how following factors would impact this new launching of ABC Company?

  • Economic Environment
  • Technological Environment
  • Political and Legal Environment
  • Cultural Environment

 

Provide strong justification against each above mentioned factors. You need to write in the context of the scenario written above. Generic answers would be not entertained.

Copy and paste from handouts or internet will be given 0 marks straight away

MGT301_Assignment_No_01_Solution_Fall_2020

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MGT301_Assignment_No_01_Solution_Fall_2020_

MGT301 Assignment No.1 2020

Economic Environment:
Economic factors have a significant impact on how an organization does business and also how profitable they are. Factors include - economic growth, interest rates, exchange rates, inflation, disposable income of consumers and businesses and so on. The economic environment of a business will play a pivotal role in determining the success or failure of a business. Let's first consider some macroeconomic factors. If interest rates are too high, the cost of borrowing may not permit a business to expand.
Technological Environment:
Technological environment refers to the state of science and technology in the country and related aspects such as rate of technological progress, institutional arrangements for development and application of new technology, etc. Technological environment changes very fast. Businesses are affected by changes in the technological environment. Technological change offers risks, opportunities and threats to businesses. Some businesses can leverage changing technology to improve products and processes or even create new products and processes that will expand markets and profits.
New ways of producing goods and services
New ways of distributing goods and services
New ways of communicating with target markets
Political and Legal Environment
The political environment may determine what laws and regulations affecting specific marketers are enacted and how much the government purchases and from which suppliers. It can also be important in helping organizations secure foreign markets. These changes can be economic, legal or social and can include the following factors: Tax and economic policies: Increasing or decreasing rate of taxes is a good example of a political component Government regulations may raise the tax rate for some businesses and can lower the same for others due to specific reasons.
Cultural Environment
Cultural environments are a remarkable cultural, social and economic resource. They are important for the identities and well-being of people. Guttural environments and the features particular to them provide a unique edge to regions and places, serve as the foundation of the development of local communities and create business opportunities. The cultural environment is made up of institutions and other forces that affect society's basic values, perceptions, preferences, and behaviors. Certain cultural characteristics can affect marketing decision-making. Persistence of cultural values. People's core beliefs and values have a high of degree of persistence. Core beliefs and values are passed on from parents to children and are reinforced by schools, churches, business, and government.

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MGT301 Assignment#01 Solution fall 2020

MGT301-Solution-Fall-2020-Assignment#01

MGT301 Assignment No.1 2020

 

Economic Environment:

Economic factors have a significant impact on how an organization does business and also how profitable they are. Factors include - economic growth, interest rates, exchange rates, inflation, disposable income of consumers and businesses and so on. The economic environment of a business will play a pivotal role in determining the success or failure of a business. Let's first consider some macroeconomic factors. If interest rates are too high, the cost of borrowing may not permit a business to expand.

Technological Environment:

Technological environment refers to the state of science and technology in the country and related aspects such as rate of technological progress, institutional arrangements for development and application of new technology, etc. Technological environment changes very fast. Businesses are affected by changes in the technological environment. Technological change offers risks, opportunities and threats to businesses. Some businesses can leverage changing technology to improve products and processes or even create new products and processes that will expand markets and profits.

  • New ways of producing goods and services
  • New ways of distributing goods and services
  • New ways of communicating with target markets

Political and Legal Environment

The political environment may determine what laws and regulations affecting specific marketers are enacted and how much the government purchases and from which suppliers. It can also be important in helping organizations secure foreign markets. These changes can be economic, legal or social and can include the following factors: Tax and economic policies: Increasing or decreasing rate of taxes is a good example of a political component Government regulations may raise the tax rate for some businesses and can lower the same for others due to specific reasons.

Cultural Environment

Cultural environments are a remarkable cultural, social and economic resource. They are important for the identities and well-being of people. Guttural environments and the features particular to them provide a unique edge to regions and places, serve as the foundation of the development of local communities and create business opportunities. The cultural environment is made up of institutions and other forces that affect society's basic values, perceptions, preferences, and behaviors. Certain cultural characteristics can affect marketing decision-making. Persistence of cultural values. People's core beliefs and values have a high of degree of persistence. Core beliefs and values are passed on from parents to children and are reinforced by schools, churches, business, and government.

 

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