Markets and Marketing Essay Example | Topics and Well Written Essays - 3000 words

Markets and Marketing - Essay ExampleSocio-cultural factors include health consciousness, age distribution, tribe growth, individuals career tastes, and safety concerns. Statistical data show that UKs birth rate has increased over the last two years. This increase in birth rate adds value to Tiny Tees. While analysing received UK society, it seems that people are highly concerned about the health of their family members. Hence, people tend to purchase tone cloth materials for their toddlers. Furthermore, trends indicate that people buy more number of baby clothes in sanctify to keep their babies away from the greater risk of energiseting infections. Secondly, a detailed study of technical factors whitethorn aid Tom to assess the risks and opportunities arising out of the UK technological industry. Generally, marketers consider technological factors including research and development activities, technological growth, mechanization, and innovations. It is obvious that UKs techno logical sector has undergone tremendous changes over the last two decades and hence the sylvans technological sector offers a range of potential opportunities to Tiny Tees. The UK government encourages and supports technological innovations. Similarly, automation is very effective in the UK and it has been still developing at a greater pace. UKs swell developed transportation sector also offers better scope to Toms planned learnedness project. In short, technological factors can greatly contribute to the positive effects of the proposed acquisition. Thirdly, assessment of economical factors is requirement for Tom to understand the financial scope of the proposed project. Researchers have identified that economical factors including income growth rate, interest rates, pretentiousness rates, and exchange rates play a pivotal role in determining the market achievement of a company. The global financial crisis 2008 negatively affected the economic growth of United Kingdom notwith standing the monetary measures taken by the Bank of England. The profitability decline (given in Table 1&2) of the Tiny Tees can be greatly attributed to this economic crisis. Even though the UK economy is rapidly improve its growth status, it has not been completely recovered from the impacts of global recession yet. Therefore, the STEP analysis may encourage Tom to forecast the future economic/growth status of the Tiny Teens effectively. Finally, it is necessary for Tom to die the semipolitical status of the market in which the planned project is going to be launched. The UKs political spectrum seems to be stable. Faster economic development has become the mantra of the UK politicians and hence they try to promote countrys pipeline sector by every means. As a result, entrepreneurs and other diminutive scale traders get increased financial as well as technical assistance from governmental agencies. This situation lead certainly contribute to the development of new ventures. Since the planned acquisition project comes under the category of small scale business, Tom would obtain greater support and assistance from the UK government. The UK governments current business policies also provide the marketer with extensive future expansion opportunities. In short, the STEP analysis depart help Tom to determine whether or not to acquire Tiny Teens. Question 2 To define,