Marketing S.S.S 1 First Term

WEEK 11

Marketing Mix (Cont.)

Performance Objectives

Students should be able to explain:

       1. Factors affecting the market environment     

Content

1. Factors affecting the market environment

Factors Affecting Market Environment

i. Socio-cultural factor: This factor includes the economic political, legal and technological forces. This connotes that people and their socio-cultural customs and belief are fundamentally and basically what shape and determine the economy, political-legal system and technology. These factors affect how and why people live and behave as they do. These factors are important because it has an impact on customer buying behaviour.

ii. Technology factor: This connotes how the technological inventions, technical equipment and skills affect the way an economy's resources are converted to output. Technology is the word of (Hill and Sullivan 1996) is a driving force for change in society and can be significant to the marketer for.... View More