THE BUSINESS ENVIRONMENTAL FACTORS AS THEY AFFECT MARKETING ACTIVITIES IN A BUSINESS ORGANIZATION
CHAPTER ONE
1.0 INTRODUCTION
1.1 PURPOSE OF THE STUDY
Business organization has been variously defined by different authors, scholars, writer of business management etc, based on their own perspectives and there is no disagreement as to these several definitions.
However, from a wider perspective, business organization is defined as an establishment made up of a specialist in field who come together for the purpose of maximizing profit through satisfaction of consumer’s needs, wants and requirements.
According to H.K Latinwo et al (2014) introduction to
business management, business organization consist to of people who carry out different tasks which are coordinated to contribute to the organizational goals.
Therefore, for any business organization to meet up its stipulated goals which are profitable to consumer’s satisfaction, the business operations and activities have to be carried out within the frame-work that the society has established. The development and operations of any business enterprise is determined to a large extent by the environment in which the business
enterprise is located. That is, the sum total of all internal and external factors and variables that influence the decision, roles, operations, production, marketing and goals of the business enterprise.
These environment variables may be favourable or unfavourable to the
business operations depending on how the business organization can make use of its SWOT analysis (Strength, Weaknesses, Opportunity and Threat).
However, one of the functional areas of business enterprise being affected by these environmental factors is marketing which are significant and
indispensable functional areas to the enterprise because the function (department) is the one that determines the needs, wants and aspiration of the consumers. Marketing research and marketing intelligence pave way for marketing regular information supply about the environment and these becomes important because they need to adapt to their strategies to meet new market place challenges and opportunity to satisfy the consumer’s requirement in a way of achievement the primary and general organizational goals which is profitable to consumers’ satisfaction.
Marketing function (department) play a very significant role in an enterprise because a production activity has been completed until the goods or services produced are made available to the final consumers at a fair and reasonable price. This confirms the marketing assertion which says production is meant for
consumption.
Therefore for marketing activities to be successfully carried within the frame-work in an establish society, the organization and its marketers must have sound knowledge of the existing and futurist environmental nation since the starting of developing marketing plan is to determine and analyze the nature of the society (environment) where the marketing organization has to operate.
THE BUSINESS ENVIRONMENTAL FACTORS AS THEY AFFECT MARKETING ACTIVITIES IN A BUSINESS ORGANIZATION