BUS 5011 – MARKETING MANAGEMENT
MBA 3: 2009/2010
STUDENT NAME: GRACE J. TIBANYWANA 1473/T.09
PROBLEM: Discuss the internal and external factors of marketing environment and explain how they affect firm’s performance. Illustrate your discussion with local examples.
This refers to a surrounding made up of all factors/forces that influence marketing activities in a firm. Also can be defined as forces that directly and indirectly influences firm’s capability to undertake its business or trading forcers operating in a market place over which business has no direct control but which shapes the manner in which business function and is able to satisfy its customers.
Components of Marketing Environment
• External environment
• Internal environment
Factors that affect each of the two environments are grouped as External environment factors and internal environment factors respectively. These factors may affect a firm in two ways either improves the performance (if well managed) or lowers the performance.
EXTERNAL ENVIRONMENT FACTORS
Reflects all factors/forces that are out of a particular firm; which have significant impact on the firm’s activities refers to marketing environment in totality. External factors can be categorized into two
1. Micro/task environment factors
2. Macro/societal environment factors
Micro/task environment factors
It comprises all forces/factors that can influence firm’s performance and are at some degree in the control of a firm but by no means complete control it. Includes factors like suppliers, distributors, stockholders, and targeted customers
Micro/task environment forces describe the relationship between firms and driving forces that controls the... [continues]
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