Chapter 2 – Evaluating the Internal and External Environments
Introduction
When you or your company are planning marketing activities, it is important to incorporate as much information as possible about how the company’s environment will affect the success of these initiatives. This chapter explains why its important to assess the environment in which each company operates.
Analysis of the situations, resources, assets and challenges a company is faced with determines many aspects of the marketing approach.
We also strongly recommended that you conduct additional research and find readings on the application of Porter’s Five Forces, including reviewing examples where a company used this analysis for their marketing planning.
Readings
2.2 Components of the Strategic Planning Process from Principles of Marketing – H5P Edition (2022).- 1.3 Factors Comprising and Affecting the Marketing Environment from Principles of Marketing (Albrecht et al., 2023).
Practice Activities
Media Attributions
- H5P Image 3: Modified MEC signage (https://unsplash.com/photos/mec-signage-DScJ_HAfP98) by Alexander Tsang [alexander_tsang], via Unsplash, is used under the Unsplash (https://unsplash.com/license) license.
- H5P Image 4: Modified Red and white ford truck on road during daytime (https://unsplash.com/photos/red-and-white-ford-truck-on-road-during-daytime-9bJG9FNXZ4Y) by Tomas Horak [superfucik], via Unsplash, is used under the Unsplash (https://unsplash.com/license) license.
References
Albrecht, M. G., Green, M., & Hoffman, L. (2023). Principles of marketing. OpenStax. https://openstax.org/books/principles-marketing/pages/1-unit-introduction.
Horak, T. (2020). Red and white ford truck on road during daytime [Image]. Unsplash. https://unsplash.com/photos/red-and-white-ford-truck-on-road-during-daytime-9bJG9FNXZ4Y.
Principles of marketing – H5P edition. (2022). BCcampus. https://opentextbc.ca/principlesofmarketingh5p/.
Tsang, A. (2019). MEC signage [Image]. Unsplash. https://unsplash.com/photos/mec-signage-DScJ_HAfP98.
