Features Of Marketing Environment

What is marketing environment?

Marketing Environment is any thing that has an impact to the marketing operations. It implies internal and external forces that directly or indirectly affect the marketing strategies of the company. The marketing environment is categorized in two types which are internal marketing environment and external marketing environment.

The internal marketing environment involves all factors which take place within an organization and they bring impacts to the marketing strategies of an organization. They include; objectives of the company, organization culture, organization image, policies, vision and mission of an organization. 

External marketing environment involves all factors that take place outside an organization but has an impact to the organization's marketing strategies. External environment involves micro and macro environment. 

Micro environment includes customers, competitors, suppliers, intermediaries and publics. While macro environment includes Political factors, Economic factors, Social factors, Technological factors, Legal & regulatory factors and environmental factors.

Features Of Marketing Environment

Uncertain; The marketing environment forces are unpredictable and unexpected. They can be opportunities or threats to the marketing operations of the company and can be faced any time. A company must be ready to deal with these unpredictable threats as well as to use opportunities effectively.

Complex; The marketing environment is difficult to understand due to the interaction of different factors. Also its difficult to predict as well as to manage.

Dynamic; Marketing environment forces change from time to time. For example, technological changes may impact the marketing operations of the company. Thus, a company must be able to adapt these changes.

Relative; The demand of the product varies according to regions, countries and culture. For example the demand of coats and sweaters in cold regions is higher than in hot regions. That is to say, marketing strategies relate with the demands of the people of the targeted area or environment.

Conclusion: Learning marketing environment is very important to any business as it helps a company to know how to deal with threats and how to utilize opportunities as well as how to manage changes once they happen.