In Week 1 of this course, you selected a public company, or one with which you are familiar, to apply the knowledge you have gained from your Learning Resources and research in order to develop a marketing audit document. In addition, you arranged time to conduct the appropriate research to gather the information necessary to complete your marketing audit. You may also have decided to speak with someone from the company’s marketing department, though this is not required to complete your Assignments over the next several weeks. From the information that you have begun to gather, you will conduct a macro environment audit this week.
The macro environment audit allows you to gain an understanding of the market in which the firm is operating, as well as outside influences that may have an impact on business functionality. This work will also give you a foundation on which to build for your upcoming analysis and the recommendations that you will make for this company. Each of the following main areas must be addressed as part of this audit, but the questions listed are only guidelines as to the type of information you must gather in order to complete an analysis; they are listed to help you get started.
To prepare for this Assignment, you will need to collect information on your chosen company or conduct outside research using online resources to assemble the data, as outlined in the Assignment submission instructions that follow. You should cover each particular topic in a way that is most meaningful for the organization that you have selected.
By Day 7
Submit a 2- to 3-page macro environment audit that summarizes your selected company. If relevant, include the name and title of the individual you interviewed, and write up your findings and analysis of the macro environment, using each of the following numbered items as headings for your analysis. You should also include the scholarly, peer-reviewed sources from your annotated bibliography to support your assertions, as well as other scholarly literature to help you gain insights into any of the major issues you identify for your selected company.
- What major demographic developments and trends pose opportunities for or threats to this company?
- What actions is the company taking in response to economic developments and trends?
- What is the outlook for the cost and availability of natural resources and energy that are needed by the company?
- What concerns, if any, have been expressed about the company’s role in pollution and conservation, and what steps has the company taken?
- What major changes are occurring in product and process technology?
- What is the company’s position in relation to these technologies?
- How is a marketing information system (MIS) being used in understanding the current business environment?
- What changes in laws and regulations might affect marketing strategy and tactics?
- What is happening in the areas of pollution control, equal employment opportunity, product safety, advertising, price control, and so forth, that affect marketing strategy?
- What is the public’s attitude toward the company’s products?
- What changes in customer lifestyles and values might affect the company?