Factors that influence marketing trends

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Although the strategies mentioned above are the latest in marketing, there are several factors that influence their application.

Internal factors
These are the core parts of the business, including production and finance. These variables can significantly affect your marketing strategy and how you respond to trends.

External factors
There are four external factors that influence marketing trends and that were possible to glimpse throughout 2020:

The economy
The economy has a direct impact on consumption and helps shape marketing trends. The four stages of the business cycle – boom, peak, bust and trough – all have a major impact on campaigns, products and pricing.

Competence
If your competitors offer products and services very similar to yours, it can qatar whatsapp resource influence trends and, therefore, the actions you should take. Although competition is a business challenge, you can take advantage of it to strategically plan campaigns that will give you an advantage in the market.

Demography
Demographics play a central role when defining your campaigns. Age, gender, race, ethnicity, marital status, income: all of these variables influence customer behavior and spending.

Sociocultural factors
Different locations around the world will require different specific marketing actions. The most successful campaigns are those that leverage cultural factors to create a connection with customers and promote consumption.



Internal factor variables can significantly affect marketing strategy and how it responds to trends. (emphasized quote)