Question

Think about and identify several internal and several external environmental factors that affect marketers’ choices across the 4Ps+1 (think about that first section of the marketing plan). Discuss how specific internal and/or external factors can influence what products or services companies sell to customers, and discuss how specific internal and/or external factors can influence effective strategies using the other marketing mix elements.

Answer 1

Here are many external and internal factors that affect the marketing environment these are employees, materials, budget, manufacturing, promotion and technology, engineering, and external factors are customers, competitors, social, political, suppliers, etc. The mixture of all factors is coming in the marketing environment.

The company's marketing environment consists of external marketing factors and trends that build and maintain successful relationships with direct customer relationships that affect its marketing management capabilities. "

1. It helps you find and use new opportunities for the benefit of your organization, but also your employees and customers.

2. It also allows you to identify threats to your business. This gives you a warning sign to take the necessary action.

3. Analyzing your marketing environment helps you deal with sudden and expected changes.

What products should customers sell and how can they effectively influence their strategy?

1. Finance or money

Finance or money is part of 5ms activities. Corporate Downstream company budget has a direct impact on its sales and marketing activities.

2. Product development:-

Product development is a developing process.

3. Innovation:-

Another important element of the internal marketing environment is innovation. Marketing innovation helps you outperform your competition.

4. Customers:-

Every business needs customers to survive. You cannot sell your products and services unless you have loyal customers.

5. Staff:-

Employees are part of the internal and external marketing environment. Your employees work diligently and contribute significantly to the success of your business.

6. Retailers and distributors.

Suppliers are the types of suppliers, sellers, and distributors that your business needs. They have a direct relationship with your customers.

7. Government:

This is a government that covers various policies, such as education policies, housing policies, employment policies, pricing policies and, of course, business policies.

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