Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

Which of the following should not be considered one of the controllable elements in a firm's marketing strategy:?

A price selection.

B selection of a target market.

C salesforce design

D promotion

E the economic environment

user-image
Question added by Kishor Vadher , Sales Manager , Hausstrom ltd. Lagos
Date Posted: 2015/07/01
Jameel Khatri
by Jameel Khatri , Assistant Manager (Marketing & Business Development) , SGS Pakistan

The best option should be E- The Economic Environment

Vinod Jetley
by Vinod Jetley , Assistant General Manager , State Bank of India

E the economic environment^^^^^^^^^^^^^^^^^^^^^^^^^

Ibrahim Hussein Mayaleh
by Ibrahim Hussein Mayaleh , Sales & Business Consultant and Trainer , Self-employed

The economic environment cannot be considered as a controllable element of the marketing strategy

Muhammad Awwal Jibril
by Muhammad Awwal Jibril , English Language Teacher , Poliglota

The question is getting me confused, as I look closer and find multiple answers to this question.

 

First of all, what do we consider in a firm's marketing strategy?

1. The price of a product is essential,

 

2. Promotion is also important to meet the target audience,

 

3. Selection of a target market is one very good factor to also be considered and is a controllable element,

 

Now I start weighing between the other2 options;

 

-Is the economic environment out of it?

 

-Do we consider the sales-force design more?

 

-What is a 'Economic Environment' and what does it involves?

The economic environment consists of external factors in a business' market and the broader economy that can influence a business.

 

The Economic Environment involves both the Micro and Macroeconomic environments,

 

-Macroeconomic influences are broad economic factors that either directly or indirectly affect the entire economy and all of its participants, including your business.

These factors include such things as: Interest rates, Taxes, Inflation, Currency exchange rates, Consumer discretionary income, Savings rates, Consumer confidence levels, Unemployment rate, Recession and Depression

 

- Micro-economic factors influence how your business will make decisions. Unlike macroeconomic factors, these factors are far less broad in scope and do not necessarily affect the entire economy as a whole. Micro-economic factors influencing a business include: Market size, Demand, Supply, Competitors, Suppliers and  Distribution chain, such as retailer stores,

 

 

-What about the "Sales-force'?

-Given this critical role, the sales force is one of the most valuable resources for an organization. Even in challenging economic times, a winning sales force is still a key engine for growth. The sales force is also a costly resource and building or reshaping one involves considerable time and expense. The sales force connects an organization to its lifeblood—its customer base.

-Implementing the right design for your sales force and carefully evolving it as market conditions change requires a thorough understanding of customer needs and potential:

i-Which activities should the sales force engage in to create the ideal customer experience? And, how can these activities be organized into effective and “recruit-able” selling roles?

ii-Which skills and areas of expertise make up the right profile for each selling role?

iii-What is the most cost-effective mix of sales channels and sales teams to optimize market coverage?

iv-Which accounts, products, services and activities should be assigned to each team?

v-What is the optimal size of each sales team and how should effort be allocated?

vi-What is the optimal management reporting structure for the sales organization?

 

 

After looking vividly into the above two options explained I finally decide to go for "Economic Environment" as the option. Thank you.

Zuhair Ashraf
by Zuhair Ashraf , Marketing Executive , Ashraf Laboratories pvt limited, Faisalabad.

off course E: economic environment

 

joseph elias
by joseph elias , Sales Manager , Batroun Village Club Hotel & Resort – Batroun

the elements should not be considered in a firm's marketing strategy is the economic environment  

Muhammad Yousaf
by Muhammad Yousaf , Director , Zia Saeed & Co. Pvt. Limited

Of course the E , the Economic Environment.  This is something which is not in control of a marketer while deciding the Marketing Mix.  We can predict but it can change anytime by so many variables.

More Questions Like This