TYPES OF MARKETING ENVIRONMENT
The marketing environment includes all internal and external factors that
influence a business’s marketing activities. These factors help
management plan and adapt strategies to meet market changes.
It is divided into two main types:
(A) External Factors and (B) Internal Factors
(A) EXTERNAL FACTORS
These are the outside forces that affect a company but are not under
its direct control. The business must adjust its marketing strategies
External factors are divided into two types:
(a) External Micro Environment and (b) External Macro Environment
(a) External Micro Environment
These are external forces directly related to the company and affect its
ability to serve customers.
Main Components:
1. Suppliers: Provide raw materials, parts, and services needed for
production. Poor supply can delay production or reduce quality.
2. Market Intermediaries: Agents, wholesalers, and retailers who help
move products from producer to consumer. They are vital links in
distribution.
3. Customers: The target audience for products. Customer
satisfaction is key; businesses must research and adapt to
changing tastes and needs.
4. Competitors: Other firms offering similar or substitute products.
Businesses must study competitors’ strategies to stay ahead.
The marketing environment includes all internal and external factors that
influence a business’s marketing activities. These factors help
management plan and adapt strategies to meet market changes.
It is divided into two main types:
(A) External Factors and (B) Internal Factors
(A) EXTERNAL FACTORS
These are the outside forces that affect a company but are not under
its direct control. The business must adjust its marketing strategies
External factors are divided into two types:
(a) External Micro Environment and (b) External Macro Environment
(a) External Micro Environment
These are external forces directly related to the company and affect its
ability to serve customers.
Main Components:
1. Suppliers: Provide raw materials, parts, and services needed for
production. Poor supply can delay production or reduce quality.
2. Market Intermediaries: Agents, wholesalers, and retailers who help
move products from producer to consumer. They are vital links in
distribution.
3. Customers: The target audience for products. Customer
satisfaction is key; businesses must research and adapt to
changing tastes and needs.
4. Competitors: Other firms offering similar or substitute products.
Businesses must study competitors’ strategies to stay ahead.
