Marketing environment is the factors and actors that influence the decision-making in marketing. Broadly, the marketing environment can be categorized into: the external environment and the internal environment. The internal environment is the one the firm is able to control while the external environment is the one which the firm cannot have a control over.
The external environment can be categorized into:
1. Macro-environment
2. Macro-environment
Macro-environment
Macro-environment includes the larger societal- level environment that influences the decisionmaking process in the marketing. It includes:
1. Demographic environment
2. Technological environment
3. Economic environment
4. Political environment
5. Socio-cultural environment
6. Legal environment
7. Natural environment
1. Demographic
Under this can be mentioned: rural and urban population ration; population growth; demographic shift and age of population.
2. Technology
Under this, we can name: innovation of websites; mobile handsets; internet; e-commerce, ebanking and change in life style due to technology. Change in business patterns due to technology; online transactions, for instance
3. Economic
Economic environment consists of, among others:
- Business cycles
- Economic growth
- Income level
- Inflation rate
- Interest rates
Socio-cultural environment
To indicate some examples:
- Change in consumption pattern
- Difference in life style
- Changing gender roles
- Health & environmental issues
- Literacy level
- Tradition, customs, religion
Political environment
- This includes financial policies, such taxation, interest rate policies;
- Political stability
6. Legal environment : under this legal environment , we can mention, as examples: social legislation and regulations; business laws, tax laws, and advertising laws
