List of forces that are causing affects in marketing
Answers
Unmet customer needs, because they can be opportunities for your company to step in
New competitors, especially nontraditional competitors from other industries
Mergers and acquisitions that may strengthen a competitor or cause you to lose a supplier or distributor
Changes in the supply chain and distributors
TECHNOLOGICAL FORCES
Technological forces impact everything from how a product is produced to how a customer uses it and may affect every function in an organization, including what products are developed, how marketing reaches consumers, and how sales are tracked and managed. Technological changes even provide new and more effective ways to handle shipping and logistics. The CI team can play an important role in your company by tracking technological forces and providing insight into how they affect each area of the company.
ECONOMIC FORCES
All sorts of economic events may impact a business, from an economic downturn to sequestration to the government deciding to invest in solar energy. The CI team must continually monitor for such events so your organization isn’t blindsided by something that negatively affects its bottom line and doesn’t completely miss out on a golden opportunity.
IDEOLOGICAL FORCES
To compete in the global marketplace, you need to account for differences in ideologies. In some countries, for example, bribery is not only an accepted but an expected business practice. Certain practices that are acceptable in capitalist economies are shunned in communist or socialist states. In addition, religious beliefs may affect purchase decisions in a particular country or region. Competitive intelligence can play a key role in ensuring that an organization enters an area without committing a major faux pas.
POLITICAL AND GOVERNMENTAL FORCES
In the United States, the government plays a major role in determining how businesses operate, especially in relation to international trade, taxation, and regulations. If your business has government contracts, these forces may have an even bigger impact. The CI team needs to keep an eye on any government and political issues that may affect your organization.
MEDIA FORCES
The media, including social media, can make or break a company. A bad-news story can go viral in a matter of minutes, and if your organization fails to deliver an acceptable response, the repercussions can last for months or even years. If the bad news is about a competitor, that could be good news for you, so be prepared to jump on such opportunities. The CI team can help monitor the media so your organization isn’t caught off guard in either situation.