Topic > Environmental Factors of Marketing - 1332

Environmental Factors of Marketing This document will discuss the five environmental factors that influence the global and national marketing decisions that organizations must make. These five environmental factors are technology, demographics, government, culture and economics. Companies are affected differently by these factors depending on the industry they operate in and the size of the organization. I will use the Washington Plaza Hotel to illustrate how these environmental factors influence hotel industry marketing decisions. The Washington Plaza Hotel is a hospitality business located in Washington, DC. They offer services such as accommodation, restaurant, bar, catering and meeting space rental. The Washington Plaza Hotel's primary clientele consists of government, tourism, non-profit organizations, local businesses and some corporate clients. Let's now look at how these environmental factors influence hotel marketing. Environmental Factors Influencing Marketing Technology Technology has created a major impact on the way all organizations market their products and services. With the development of the Internet, companies are now able to market themselves economically on a global level. Even smaller companies that were once unable to win international business due to the cost factor can now do so. The Washington Plaza Hotel is no exception. Washington's hotel industry relies heavily on tourism as a major part of its customer base. Many of these tourists who visit the city are of foreign nationality. It is important that Washington Plaza Hotel targets these people when marketing the company. They not only cater to tourists but also cater to international business travelers who come to the city for business trips. The hotel's website, which provides detailed information about the hotel's accommodations and services, is accessible to potential guests worldwide. Additionally, Washington Plaza Hotel has partnered with web-based travel services such as Orbitz, Expedia, Travelocity, etc. to capture a greater share of the global market. Before the existence of the Internet, the global market was not easily accessible. Technology has the greatest effect on marketing for many organizations and certainly for the Washington Plaza Hotel as well as the hospitality industry itself. Demographics Demographics are another environmental factor that plays an important role in marketing the Washington Plaza Hotel. This company is service based and customers have to come to the hotel to receive those services.