· TechnologicalforcesTheonly thing permanent about technology is change.
With advances in technologyincreasing at an unstoppable rate, keeping up-to-date with changes could help theorganization develop a market advantage in the face of competition.Technological change is most evident in how we communicate, with smartphonesand computers becoming commonplace. Rapid development of information technologyand internet is playing a vital role in the technical change. As a businessowner, one should look at ways to constrain technological potential to identifyand service.Consumerdemand, buyer behavior, packaging, promotion is all impacted by technology.Many organizations lose their status in the market because they fail to adaptto the technological changes in the environment. The marketer should makedevelop the already done inventions in the technology and should adapt to thenew technology whenever needed just to stay in the market and to beat thecompetitors.Evolutionof smartphones and the services available with them is an example of thetechnological change where the phone and services are provided together now atthe same place at cheaper price · SocioculturalforcesSocioculturalattitudes and profiles are constantly changing with time.
Developing ademographic profile of your consumer base will help you understand what makesthem happy. Sociocultural forces are the influences in a society and itsculture that result in changes in attitudes, norms and lifestyles. Keepingrecord of issues such as gender bias, ethnic origin and religion, as well asbeing conscious of social norms and lifestyle expectations, can help you withyour marketing strategy.
Organizations are also directly affected by thechanges in population because the structure of population determines the demandand supply of goods and services.Pepsiis a non-alcoholic beverage, so it had to maintain sharp differences incultures around the world. So, they implemented the marketing strategy ofadvertisements based on cultures and indulge in festivals.