What is marketing enviornment? explain its importance and components?
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Marketing Environment: Explanation,Components, & Importance. The marketing activities of the business are affected by several internal and external factors. . These external and internal factors group together to form a marketing environment in which the business operates.
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Marketing Environment Means-
“A company’s marketing environment consists of the actors and forces outside of marketing that affect marketing management ability to build and maintain successful relationships with target customers”.
Components of Marketing Environment:
The marketing environment is made up of the internal and external environment of the business. While internal environment can be controlled, the business has very less or no control over the external environment.
Importance Of Marketing Environment:
Every business, no matter how big or small, operates within the marketing environment. Its present and future existence, profits, image, and positioningdepend on its internal and external environment. The business environment is one of the most dynamic aspects of the business. In order to operate and stay in the market for long, one has to understand and analyze the marketing environment and its components properly.
“A company’s marketing environment consists of the actors and forces outside of marketing that affect marketing management ability to build and maintain successful relationships with target customers”.
Components of Marketing Environment:
The marketing environment is made up of the internal and external environment of the business. While internal environment can be controlled, the business has very less or no control over the external environment.
Importance Of Marketing Environment:
Every business, no matter how big or small, operates within the marketing environment. Its present and future existence, profits, image, and positioningdepend on its internal and external environment. The business environment is one of the most dynamic aspects of the business. In order to operate and stay in the market for long, one has to understand and analyze the marketing environment and its components properly.
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