ABSTRACT
This chapter discusses the global marketing environment, which includes political, economic, sociological, technological, environmental, and legal determinants of global marketing strategy. These environmental factors relate to the macroenvironment and form the acronym PESTEL, which helps to systematically guide the analysis and can be used as a framework for the audit of a company’s external environment. The chapter provides insight into how to examine the external environment of the global economy with an emphasis on high-tech markets. According to the PESTEL model, it explicitly adds insights on ecological and technical issues. The term global economy expresses the fact that most of the world’s nations have become increasingly interconnected. Technology is considered one of the fastest growing sectors of the green economy, while energy management and efficiency is one of the largest and most diverse sectors, ranging from building insulation to cloud technology.
