Describe the external and internal sources of change that impact upon a business and evaluate a range of marketing strategies that could be developed to take advantage of these changes to the business environment
Influences in the environment of a business can affect the ability of the business to achieve its objectives. Qantas is Australia's largest domestic and international airline and Woolworths is one of Australia's leading supermarket companies, both of which have been influenced by internal and external sources of change.
External sources of change are factors that are largely outside the control of a business and include economic, financial, geographic, social, technological, legal and political developments.
Social influences can cause changes in business practices. The opinions, values and beliefs of society affect products and services. It is consequently a goal of the business to meet the consumer needs with its products in order for the business to remain profitable.
The changing social influences in both Australia and over the globe have drastically influenced Qantas' services and operations. Being an international company Qantas operates in over 37 different countries, providing airline service to people from a magnitude of different backgrounds. This increase in market share has impacted the business to enforce a multicultural approach; employing host country service staff, introducing a tailored menu to accommodate different tastes and providing bilingual entertainment and announcements in flight effectively meeting social needs.
A business marketing objective could be to increase brand awareness with customers recognising the brand and linking it to the service they sell. It is in this way that changing social influences if not addressed, impact on the branding of a business. If a business does not change to accommodate society's needs then the business brand and image will be damaged. This inturn...