Today marketing has grown into such an enormous level that it affects every individual event though majorities are not conscious of the effect. There are a number of factors that surround an organization. These factors form the marketing environment of an organization. The marketing environment has a deep influence on the organization. The marketing strategy of the company is based upon its marketing environment.
The factors that affect a firm’s abilities to build relationships with its customers and retain the good relationships form an environment around the organization. The environment is commonly known as the Marketing Environment. The marketing environment is made up of three basic parts, namely the internal environment, the micro environment and the macro environment. These environments let marketers build internal and external relationships. Let us have an in-depth look into each of the marketing environment part.
The internal factors constitute the internal environment of an organization. The internal factors include the aspects like finance, funding, the structure of an organization, the volunteers of a project, the employees. The internal environment has a direct effect on the organization’s ability to build relationship with its customers and to serve them. The internal factors can drastically affect the approach and success of an organization. The major internal factors are the company leadership, the strength of employees, relation between employees and departments, the marketing budget, plans and many more factors.
Micro environment is formed by the individuals and factors which can directly influence business operations and its ability to serve customers. The micro environmental factors include the suppliers of service / product, the company itself, the marketing intercessors, consumers, the competitors in the same business. The changes in micro environment can be most of the time controlled by the organization. However, there may be some micro-environmental factors that may be uncontrollable by the company.
The macro environment is formed by the external factors which can affect the company’s performance. The macro environmental factors are beyond the organization’s control. Any changes in the external or macro-environmental factors can result in threats for the organization. The organization needs to have an overview of all the external factors so that it can plan its strategy accordingly.
There are a number of analysis tools which can be used for the analysis of the macro environment. PEST analysis is one of the basic tools for the analysis of the external factors. Other tools are PESTLE, STEER, SLEPT, DESTEP and many more.