Week 5- Marketing Environment

There are three elements to the marketing environment, according to a YouTube video, “Marketing Environment”. The first is internal environment, then micro environment, lastly, macro environment. Marketers build both internal and external relationships and aim to deliver value in order to satisfy customers.

 Internal marketing is the functions that go into an organization. It can be broken down into who the company is hiring, the equipment you use, the investments made, other banking and money related subjects, and how well you utilize your time.

 Micro environment are the influences on the company that show up directly to the customers experience with the company. These influences can be anywhere from the company itself, the suppliers, or any other company that could be considered a competitor.

 Macro environment cover subjects on a superior scale, that if you can control them, they are very hard to do so. The larger scale subjects would include, economic factors, the environment of your business in which you are in, the culture of the business in which you are in, and even political factors can play a role. If you can tam these factors from all of these elements then you can make your marketing strategy more effective.