Identify and explain the links between your analyses
of external influences and the development of your marketing strategy.
PEST:
Political/Legal
Economic
Social
Technological
Political:
The Trades Description Act, 1968:
This is one of the most important legislation in the control of advertising. This law states that the products that we sell on our stall BLING BLING must correspond to the claims made for them in advertisements. So it is therefore illegal for our business to advertise on the posters which are hanged around the school stating "real gold bracelets" when in actual fact our bracelets are not real gold they are only painted in gold colour. The descriptions of our jewellery that we are selling must be provided accurately. This Act prevents all businesses from misleading the consumer about sales.
The Advertising Standards Authority:
This is a body set up to monitor advertising in the UK. It is responsible for making sure that advertisers conform to the British Code of Advertising and Sales Promotion Practice.
Bling-Bling Skywriting, New York City
Bling-bling hip hop jewelry from flickr photo by J...
Bling Bling Bling!This code stresses that advertisements must be legal, decent, honest and truthful and must not cause grave or widespread offence. So therefore it is illegal for our business BLING BLING to advertise on posters which are hanged around the school, or of flyers that are distributed in and around the school stating that "real silver plated jewellery sold at our stall" when in actual fact we don't sell real silver plated jewellery. Our business must advertise truthfully stating what products our business BLING BLING has to offer to our customers.
Economic:
Interest rates:
If interest rates are raised by the Bank of England this will make borrowing by businesses more expensive and might even lead to cancellation of investment projects. Higher interest rates will also hit the pockets of many consumers. They will find...