Describe one (1) factor within the marketing environment. Explain the issues organizations may face within the environmental factor you have described Suggest the strategies organizations may employ to deal with the issues you have explained above.
- Describe one (1) factor within the
marketing environment . - Explain the issues organizations may face within the environmental factor you have described
- Suggest the strategies organizations may employ to deal with the issues you have explained above.
The marketing environment analysis is very important for the organizations as it determines the opportunities and threats that exist in the environment for the organization. It also assists the organization in identifying the needs of their customers, especially regarding how consumers make decisions when purchasing products.
Below mentioned are two components of the marketing environment:
1. Internal environment consists of all the factors inside the organization that affect the organization's decisions. These factors include product, price, place, production, finance, and company location.
2. External environment consists of all the factors outside the organization that affect the organization's decisions, and the organization has no control over it.
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