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Understanding Marketing Environments

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What is the marketing environment? Choose a firm and discuss why knowledge of the marketing environment would essential.

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This solution explains the marketing environment and discusses a firm as an example to show why knowledge of the marketing environment is essential. The sources used are also included in the solution.

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Marketing environment refers to the internal and external forces that affect an organization and its ability to conduct business with its customers. The marketing environment consists of the macro environment and the micro environment. The macro environment consists of social, economic, political, technological, and legal influences. The organization cannot influence these forces. In contrast, the micro environment refers to the forces that impact a company and affects the organizations relationships (a). ...

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