Q. Explain various factors in marketing environment & tell about the need to analyze the marketing environment?
Ans.: Purpose of marketing environment analysis are following:-
(1)To get know where the environment is leading, to view and size up the relevant events and trends in the environment circumstance.
(2)Strategic response to environment is promising only with correct environment analysis.
(3)To assess the scope of several chances & select those that can favorably impact the business.
(4)To help in securing the right fit among the environment and the business unit which is the crux of marketing?
The marketing environment consists of the following factors:-