Question

. It examines the business environment based on individual basis or a small customer base.

Answer 1

Answer:

• ===>>> The market environment or business environment is a marketing term and refers to factors and forces that affect a firm's ability to build and maintain successful customer relationships. The business environment has been defined as "the totality of physical and social factors that are taken directly into consideration in the decision-making behaviour of individuals in the organisation."

The three levels of the environment are as follows:

1. Internal environment – the internal elements of the organisation used to create, communicate and deliver market offerings.
2. External Micro environment – small forces external the company that affect its ability to serve its customers.
3. External Macro environment – larger societal forces that affect the survival of the organisation