GENERAL KNOWLEDGE

Detailed explanation-1: -The marketing macro environment includes the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful ongoing relationships with customers.

Detailed explanation-2: -According to Philip Kotler, marketing environment refers to “external factors and forces that affect the company’s ability to develop and maintain successful transactions and relationships with its target customers”.

Detailed explanation-3: -The marketing environment is defined as those actors and forces external to the firm’s marketing management function, which have the potential to affect the business’ ability to successfully develop and maintain transactions with its customers.

Detailed explanation-4: -The microenvironment consists of the actors close to the company that affect its ability to serve its customers, the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.

Detailed explanation-5: -External Environment. The external environment constitutes factors and forces which are external to the business and on which the marketer has little or no control.