EXTERNAL BUSINESS ENVIRONMENT

External Business Environment

External Business Environment

Introduction

According to Certo (1997), marketing is the set of techniques that try to market the product or service to maximize profits or sale of a product. Its primary function is to satisfy the customer by which it intends to design the product, sets the correct pricing, choose distribution channels and adopts appropriate communication techniques. The marketing mix is a tool that is used by the marketers to implement marketing strategies and achieve their objectives (Certo, 1997, Pp. 25).

A business cannot operate in emptiness. The business must react and act to whatever are the consequences and situations outside the walls of the office and factory. The factors that prevail outside the business are called external influences or factors. The external influences on the businesses have an impact on the internal operations and functions of the business as well as its goals and strategies. According to Jain (1984), the marketing strategies that are adopted by companies are mainly influenced due to the external factors. These external factors can either influence the strategies of the company in a positive or a negative way (Jain, 1984, pp. 125).

This paper attempts to discuss the influences that external factors in the business environment have on the marketing strategies and outcomes of Top Shop, a leading British retailer of clothes.

About Top Shop

Top Shop is a retailer of clothes in the United Kingdom. It has been doing business in approximately 20 countries of the world and is also performing online operations in numerous markets. The major revenues of the Top Shop are generated from the sales of fashion accessories and women clothing. This chain was founded by the Peter Robinson in the year 1964. The trends currently introduced by the Top Shop are New Mod, Glam Underground, Bavaria and Prim and Polished. These are the luxury garments. It has also introduced designer affiliations under the brand name of The Boutique.

Factors of the External Business Environment

While it is obvious that the most successful organizations have always been the most flexible and adaptable, which is new in the current situation is the diversity, pace and the interrelationship of the changes. Today they have the same importance, changes in social values in government regulations and developments in formulas for energy and the economy. The organization depends on the external environment, not only for their inputs but also for the acceptance of their products. The adjustment means for the organization to adapt to environmental demands are the channels of information. These channels are integrated into a structure of individuals, teams, tools and data. the environmental analysis is an essential and integral part of the planning process is one of the starting points, since it provides the contextual framework. A business strategy that meets the changing environmental conditions should be a business-wide strategy should include marketing strategies, technology, human resources, finance, public relations and government relations. The environmental analysis is an essential and integral part of the planning process is one of the starting points, ...