Rethinking the Analysis of the Economic Environment in Marketing Science

Abstract

The economic environment is a key factor in strategic marketing planning; however, traditional tools such as SWOT and PESTEL fail to capture the interactions between agents and the effects of public policies and shocks on the economy. This article introduces an innovative approach by analyzing how changes in the economic environment affect the interconnected structure of markets and productive sectors through the proposal of the Interconnected Economic Environment Model. This enables companies to anticipate impacts and adjust their strategies more effectively. The study explores the redistributive effects, economic linkages, and induced dynamics arising from policies or external shocks. This approach allows companies to align their strategic decisions with environmental transformations, optimizing resources and maximizing opportunities. By expanding the understanding of the economic environment, this work provides a perspective that addresses the challenges of globalized markets, offering practical and conceptual tools to develop informed business strategies.

Keywords: Economic Environment, Marketing Science, Input-Output Analysis, Social Accounting Matrix, Strategic Marketing