What are the factors involved in an environmental analysis? How do marketers gather the information for this analysis? How does a company use the factors from an environmental analysis as a basis for market strategy?
Internal and external factors are involved in an environmental analysis.
1.Company's Internal Environment consists of functional areas such as top management, finance, marketing and manufacturing, etc. All these factors are internal to the company and can be controlled by the company.
2.Company's external environment consists of micro and macro environment.
-Micro environment includes suppliers, creditors, customers, shareholder etc. These are the elements on which an organization has direct control.
-Macro environment consist of political, economic, social, technological, environmental and legal factors. These factors are beyond the control of ...
What are the factors involved in an environmental analysis?