A2 Internal Influences
Internal Factors Affecting Marketing
Internal factors are elements within a company that influence its marketing strategies and activities. These factors are typically controlled by the business and can significantly impact how marketing objectives are set and achieved.
Cost of the campaign
Availability of finance
Expertise of staff
Size and culture of the business
Cost of the campaign
Marketing costs can be very expensive. Above-the-line techniques can reach large numbers of people using mass media platforms such as TV, billboards and popular social media channels. Below-the-line techniques such as email campaigns and content on the firm’s own social media platforms tend to be cheaper but reach a much smaller audience.
Availability of finance
The financial health of a business will have an impact on the money they have available to spend on marketing. The opportunity cost of spending on marketing is the reduction in spending in other areas such as research and development and staffing. Firm’s with limited finances may need to prioritise other functional areas in decisions on spending.
