Marketing Forces

Abstract

In the following you will learn about different forces that affect businesses on the marketing aspect that can make it hard for businesses to profit or remain in business. There are many different types of forces in the world around businesses that affect them on a daily basis but some can be overcome easily and others you have to dig deep and come up with a plan to make it through the changing environment. We will take a look at three of these forces and examine how it will impact the business and see what the best way to overcome these obstacles would be.

Marketing Forces

In the world of breakfast cereal manufacturing there are many different forces that affect the business on a daily basis and we are going to take a closer look at a few of them. The ones that we are going to focus on are competition, economic and natural forces and we will see how they affect the business on a daily basis.

The first one that we are going to look at is competition. Competition comes from other companies that produce the same kinds of products and market their products to the same consumers that your company markets. This causes stress on the managers, employees and owners because they have got to be able to have the best product for the best price and have it readily available to distribute throughout the market. In the Unites States alone, there are over 30 companies that produce breakfast cereal. (Hoover’s, 2013) Since there are so many companies that are in this field you see just how much competition there is that your company will have to deal with on a daily basis and just how many decisions that will have to be made in order for your company to maintain a competitive edge and stay profitable for all of the owners and stockholders involved.

The second force that affects your business on a daily basis is the economy that your business is operating in. The economy is affected by so many things from the way consumers spend money to the way the government taxes and regulates businesses. In today’s economy that we are dealing with is one that is riddled with unemployment and consumers that are holding on to their money instead of spending it. Basically, the economy is in a crisis and is slowly recovering and this will bring on a different economic environment (Kerin, Hartley & Rudelius, 2013, p. 65). There are so many factors that affect the economy that this could be the hardest force that affects the marketing aspect of any company. People change their minds from second to second and from week to week and even month to month about what type of products they need for their families or homes. These decisions made by the consumer can make or break a product or a company and if you can not market the product to the right type of people then you are going to be struggling to keep your business