HSC Production Management and Marketing 2nd Paper 2nd Chapter Note Marketing Environment
HSC Production Management and Marketing 2nd Paper 2nd Chapter Note Marketing Environment. The marketing environment of a business consists of an internal and an external environment. The internal environment is company specific and includes owners, workers, machines, materials etc. The external environment is further divided into two components: micro & macro. The micro or the task environment is also specific to the business but external. It consists of factors engaged in producing, distributing, and promoting the offering. The macro or the broad environment includes larger societal forces which affect society as a whole. The broad environment is made up of six components: demographic, economic, physical, technological, political-legal, and social-cultural environment.
HSC Production Management and Marketing 2nd Paper 2nd Chapter Note Marketing Environment
Marketing Environment is the combination of external and internal factors and forces which affect the company’s ability to establish a relationship and serve its customers. The 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 three levels of the environment are Micro (internal) environment – small forces within the company that affects its ability to serve its customers.
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