The effect of economic conditions on marketing

[hassen1]

The economic conditions of a country means the different variables and factors of the economy. The economic conditions have a direct affect on the marketing environment and marketing programs. Purchasing power of the people is directly related to economic conditions. With reference to economic conditions the organization must consider the following areas;

1. Stage of business life cycle.
2. Inflation rate.
3. Interest rates.

[hassen1]

Economics has a huge part to do in the business world because you look at economics as a whole and marktting is part of economics. when the times are good people are open a successable to marketting when they are not they kind of fall back and close themselves off.

While a country is developed and makes more or less profits for a marketing strategy other country underdeveloped makes less or more.

[mini_0]

Since most marketers are engaged in activities designed to entice customers to spend their money, it makes sense that an important external force is economic conditions. Economic analysis looks at the how a defined group produces, distributes and consumes goods and services. For an economist a defined group can be any group that consumes something of value (e.g., products, natural resources such as water). These groupings can range from those defined very broadly (e.g., country) to those defined narrowly (e.g., small town).