principles of marketing chapter 8 quizlet

The external environment is subdivided into two components: the microenvironment (or task environment) and the macroenvironment (or broad environment), as illustrated in Figure 1.6įigure 1.6 The Components of the Marketing Environment (attribution: Copyright Rice University, OpenStax, under CC BY 4.0 license) Components of the Internal Environment The Components of the Marketing EnvironmentĪs we’ll explore below, the internal environment is company-specific and includes the 5M framework and organizational culture. Let’s take a closer look at these factors. They’re influenced by factors both from the macroenvironment and the microenvironment. The same is true of the marketing activities of a business. And just like the human body, these systems function independently and interdependently.Īt the same time, your body is exposed to external influences, like expectations from your family and friends, cultural or gender stereotypes, and family responsibilities, that influence decision-making in either a positive or negative way. The systems of the business are the people and departments that make up the internal organization (such as marketing, accounting, human resources, etc.). These organs and systems function both independently and yet interdependently to keep your body going. Your body is composed of several internal organs and systems, like your heart, lungs, and digestive system. To illustrate this concept of internal and external factors and forces, think about your body as an organization. Other factors-external factors-are outside the control of the organization. Some of these factors-internal factors- are within the control of the organization. The marketing environment is comprised of both the external and internal factors and forces that influence an organization’s decision regarding its marketing activities. In this section, we’re going to explore the internal and external factors that drive an organization’s marketing activities. They’re not self-contained, self-sufficient machines rather, they are complex systems that require interaction with facets of both their internal and external environments in order to survive and prosper.

4 List and describe the components of the micro- and macroenvironments.3 Identify and describe the internal factors of the marketing environment.2 Explain the components of the marketing environment.

1 Define and describe the marketing environment.By the end of this section, you will be able to:

Principles of marketing chapter 8 quizlet