BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -“A company marketing environment consists of the factors and forces outside marketing that affect marketing management ability to develop and maintain successful transactions with its target customers” said by Kotler and Armstrong.

Detailed explanation-2: -Marketing environment consists of the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers.

Detailed explanation-3: -Marketing environment consists of the actors and forces outside marketing that affect an organization’s ability to develop and maintain business with its targeted customers. The volatile change of marketing environment may offers opportunities and poses threats to a company depending how proactive they can adapt to it.

Detailed explanation-4: -The elements that play a role in the marketing process can be divided into three groups: customers, distributors, and facilitators.

Detailed explanation-5: -The external factors include government, technological, economical, social, and competitive forces; whereas, organization’s strengths, weaknesses, and competencies form the part of internal factors. Marketers try to predict the changes, which might take place in future, by monitoring the marketing environment.