Marketing Short Notes on 'Marketing Environment'

The introductory definition of the marketing environment stated that, “it is the sum of the total of the factors or variables which potentially influence the marketing of a product or service".
 

In order to expose a list of possible influencing factors, it is necessary to refer to references made to the marketing environment by recognized authors.

It consists of a number of external components (i.e., external sub-environments) which influence the organization’s marketing practices either directly or indirectly. In the first chapter of this book, it is indicated that the evolution of the marketing concept and the stages through which it passed, was an outgrowth of the changes in the surrounding environment. This indicates that examining and responding to the marketing environment is considered an important practice for the success of any organization. It is worthwhile to note that marketing is probably the function that is most influenced by the external environment in an organization.