Factors that influence marketing trends

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While the aforementioned strategies are cutting-edge in marketing, there are several factors that influence their application.

Internal factors
These are the essential parts of the business, including production chinese overseas canada database and finance. These variables can significantly affect the marketing strategy and how it responds to trends.

External factors
There are four external factors influencing marketing trends that were visible throughout 2020:

The economy
The economy has a direct impact on consumption and helps shape marketing trends. The four stages of the business cycle: boom, peak, bust, and trough: all of which significantly impact campaigns, products, and prices.

Competence
If your competition offers products and services very similar to yours, it can influence trends and, therefore, the actions you should take. While competition is a business challenge, you can leverage it to strategically plan campaigns that give you a market advantage.