An integral component of any marketing plan is a synopsis of the external marketing environment. Many opportunities and threats exist in the marketing environment which must be identified early on in the marketing planning process. This information will provide marketers with answers to strategic questions that may arise while developing the marketing plan. As part of your marketing plan for the new product idea you are developing as a Marketing Associate for KapConsultants, you will scan the Social, Demographic, Economic, Technological, Political and Legal, and competitive factors of the external environment.
Be sure to execute the following items to complete your Unit 2 Assignment:
Watch the training presentation on the external marketing environment by entering here.
Download and read the example environmental synopsis to help guide your learning.
Using the research you found on your chosen company in unit 1 (Remember: Wikipedia is not a viable resource), identify information pertaining to the external environment that can be used in developing your marketing plan.
Using the template provided, develop a synopsis on each factor of the external environment as they relate to the new product idea you will propose for your chosen company.
Discuss 2 opportunities or threats that affect the organization, brand, or product for each factor of the external environment.
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