Marketing Management 3(2+1)

Lession 06 : The Marketing Environment

Economic Environment

• The second essential element of a market is purchasing power and willingness to spend.
• The marketing boom of the industry increased with increasing economic growth of customers.
• The level of take-home pay determines the disposable personal income and it directly influences marketing.
• Marketing mix must be formulated on the basis of important economic indices.
• Marketers should look in for giving a right combination of product quality and good service at a price. In fact companies are tailoring their offers to both the affluent and the less affluent consumers.

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