A company’s ability to develop and maintain successful transactions with its target customers is affected by company’s marketing environment. Marketing environment consists of the forces close to the company that affect its ability to serve and satisfy its customers in the context of their needs and requirements. All firms must identify, analyze and monitor external forces and assess their potential impact on their goods and services. Although external forces are outside the marketing manager’s control, they must be considered together with the variables of the marketing mix in developing marketing plans and strategies.
The term ‘marketing environment’ denotes all the external factors and forces that affect a firm’s ability to develop and maintain successful transactions and relationships with the target customers. Thus, marketing environment includes all forces that affect marketing policies, decisions and operations of a firm. The external forces which constitute uncontrollable environment include micro factors such as suppliers, customers, intermediaries, competitors and general public; and macro factors such as demographic, economic, natural, technological and socio- cultural factors.
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5 Comments. Leave new
Good effort..
good effort
Good efforts 😀
a short one though well written
short and sweet…