Difference between internal marketing environment and external marketing environment
Answers
Answer:
Internal Environment refers to all the inlying forces and conditions present within the company, which can affect the company's working. External Environment is a set of all the exogenous forces that have the potential to affect the organization's performance, profitability, and functionality.
Explanation:
Internal Environment pinpoints in-house factors of the firm, which are often constitutional in nature. On the flip side, External environment is composed of those factors which are exterior to the firm.
Business refers to the collective effort of the firm in making money by buying and selling merchandise. We all are aware of the fact that every business operates in an environment called Business Environment. The business environment comprises all the elements that have a bearing on the decisions, moves and functions of the business.
The environmental factors, not just affect the business, because of the changes and activities, but these factors can also be affected by the business activities. Based on the extent of control, the environmental factors are divided into two groups or say types – Internal Environment and External Environment. So, let’s start our discussion on the difference between this two environment.
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