The marketing environment refers to the external factors and forces that affect a company's ability to create, communicate, and deliver value to its target market. The marketing environment consists of both the micro-environment and macro-environment.
The micro-environment includes the actors and forces close to the company that have a direct impact on its ability to serve its customers. These include the company's suppliers, customers, competitors, and intermediaries, such as distributors and retailers.
The macro-environment includes broader societal forces that influence the micro-environment and ultimately affect the company's performance. These forces include demographic, economic, technological, political, legal, and cultural factors that shape the overall business environment.
Marketers must be aware of these environmental factors and adapt their strategies accordingly to effectively serve their customers and maintain a competitive advantage. They must stay attuned to changes in the environment and adjust their marketing mix, such as product offerings, pricing, promotion, and distribution, to meet the needs and preferences of their target market.
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