The indicators are classified into 5 segments, as given below.

Demographic Characteristics

  • Education

  • Population size and growth

  • Population age composition

Sociocultural Factors

  • Consumer lifestyles, beliefs, and values

  • Business norms and approaches

  • Cultural and social norms

  • Languages

Geographic Characteristics

  • Climate

  • Country size

  • Population density—urban, rural

  • Transportation structure and market accessibility

Political and Legal Factors

  • National priorities

  • Political stability

  • Government attitudes toward global trade

  • Government bureaucracy

  • Monetary and trade regulations

Economic Factors

  • GDP size and growth

  • Income distribution

  • Industrial infrastructure

  • Natural resources

  • Financial and human resources

Get Principles of Marketing, 17/e now with O’Reilly online learning.

O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers.