What is a marketing environment?

Question

Justin Parker · Accepted Answer

A marketing environment refers to specific external forces and other factors that affect an organization's ability to market, promote, and sell its products and/or services. Factors associated with a marketing environment are typically out of each individual company's control; however, they can have a considerable impact on chances of success.

The marketing environment can be broken down into two main categories: the macro-marketing environment and the micro-marketing environment. Here are some details about each one:

Macro-marketing environment

The macro-marketing environment consists of broad external factors that have the ability to affect an entire industry or specific market in which a company operates. These include items like economic, political, social, technological, and environmental factors. These big issues are often out of the control of a single company, and can be challenging to prepare for or adapt to.

Micro-marketing environment

The micro-marketing environment includes factors that are more closely related to a company's ability to serve its consumer base. Some common factors in this area include customers, suppliers, competition, and other stakeholders. While these can also be hard to control at times, they are more easily influenced by a company in a specific marketplace.

Importance of marketing environment

Comprehending the ins and outs of a particular marketing environment is extremely important for companies. This is because they must use data, knowledge, and other forms of information to make informed marketing strategies that take all of these factors into account and still enable them to position themselves well in the market and achieve success.