The socio-cultural environment is made up of institutions and other forces that affect a society's basic values, perceptions, preferences, and behaviours. Socio-cultural forces usually influence the welfare of a business firm in the long-run. We have ever- changing society.
New demands are created and old ones are lost in due course. Marketing management must make necessary adjustments in marketing plans in order to fulfill new social demands. It must analyze how the its relates to buying behaviour.
Socio-cultural environment is represented by the structure and dynamics of individuals and groups in a society. A society is a group of people having distinct beliefs, knowledge, customs, habits, taste, values, culture and life-style. These socio-cultural characteristics differ from people to people and society to society. Therefore, their choice of goods and services also differ from one another. Therefore, a marketer must be able to make a detailed study and analysis of socio-cultural environmental forces. A good socio-cultural environment analysis combines the following forces demographic, life style, social forces, cultural forces.
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ReplyDeleteNice article on Socio Cultural Environment.
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