Internal and External Marketing Environment
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There are two types of environmental factors that affect marketing: internal and external. Internal factors are forces within the firm like management changes, employee morale, and financial issues. External factors are forces outside of the firm that are unpredictable, like the microenvironment of suppliers, competitors, and customers, as well as larger macroenvironmental forces in society like demographics, the economy, technology, politics, and culture. Understanding both internal and external environmental factors is important for marketing management to build relationships with customers.
Internal and External Marketing Environment
- 2. The actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers. The trading forces operating in a marketing place over which a business has no direct control, but which shape the manner in which the business function and is able to satisfy its customers.
- 3. There are two types of Environmental Factors: Internal Environmental Marketing and External Environmental Marketing
- 5. Forces and actions inside the firm that affect the marketing operation composed of internal stake holders and the other functional areas within the business organization.
- 6. Some examples of internal environmental factors are as follows: Management changes Employee morale Culture changes Financial changes and/or issues Or simply the 5 M’s of Management (Man, Materials, Machine, Money and Minutes) It also includes: Human Resource Department Operations Department Accounting and Finance Department Research and development Department
- 7. Forces and events that take place outside of the organization and are unpredictable, hard to prepare for, and often bewildering.
- 8. External Environmental Factors consists of: Microenvironment - The actors close to the company that affect its ability to serve its customers- the company, suppliers, marketing, intermediaries, customer markets, competitors, and publics. Macroenvironment - The larger societal forces that affect the microenvironment– demographic, economic natural, technological, political, and cultural forces.
- 9. Slide by: Patricia Mae De Vera BSBA 1-3