Question

Why is it important for the organizations to have sound understanding of marketing environment? Discuss elements of micro-environment with appropriate examples.

Answer 1

The micro environment relates to the immediate periphery of an organization and directly influences the organization on a regular basis. Hence, it is also known as the task environment. It is important for an organization to monitor and analyze all the elements of its micro environment like customers, competitors etc.

Answer 2

1 For boosting up better environment for carrying out business

2.For avoiding compensating to the people who suffers from illness due to toxic gases

3. for building up reputation