Marketing Strategy for Small- to Medium-Sized Manufacturers

Other Factors to Consider

SMMs should consider social, economic, political and legislative, technological, and global factors when evaluating growth alternatives. Demographic shifts (gender, age, racial and ethnic, and so on) affect the demand for and types of both consumer and industrial products and services, which ripples through supply chains and distribution channels. The men’s business suit and tie segments almost disappeared when business attire became casual. Interest rates, inflation, and employment rates affect capital investing and hiring. The 2008–2010 recession curtailed overall economic activity and put growth initiatives on hold. Political and legislative change can benefit or harm industries and markets. The on-again-off-again ...