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A marketing strategy is a plan developed by an organization that describes how a company 's products and services will be offered to customers.There are few external factors that influences the marketing strategy of the business...(1) Market selection....For better sales of a product , market selection is significant.The amount of sales depends on the location of the market, whether the market is in urban or rural area.
(2) Legal influences...Federal and state regulations on a specific industry can influence how a company perform., eg.. in the alcohlic beverage industry, would it be sensible to have children under the age of 18 doing an advertisement selling alcohlic beverage if it is against law for minors to consume alcohol?
(3) Economical Infuences...The state of economy and our environment has major influence on consumer buying power.If economy is experiencing a recession, consumers may not be able to buy what they normally buy due to lack of unemployment.If a person is laid off and is in danger of depleting his savings, he may rethink buying a large cup of coffee he purchase at Starbucks, instead he will make coffee at home.This will eventually effect Starbucks bottom line.
(4) Price planning....Price of product be kept in a tolerable range for all class of people,
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