MANAGEMENT

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: -In short, marketing management is the process of planning, executing, and tracking the marketing strategy of an organization. This includes the marketing plan, campaigns and tactics used to create and meet the demand of target customers to drive profitability.

Detailed explanation-3: -Answer. The Marketing Environment consists of actors and forces outside marketing that affect marketing management ability to develop and maintain successful relationships with its target customers.

Detailed explanation-4: -A marketing environment encompasses all the internal and external factors that drive and influence an organization’s marketing activities. Marketing managers must stay aware of the marketing environment to maintain success and tackle any threats or opportunities that may affect their work.

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.