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The marketing environment refers to external and internal factors influencing an organization's marketing-related decisions and activities. It plays a crucial role in shaping a company's marketing strategy and ability to succeed in the marketplace.
Here are the key components of the marketing environment:
Analyzing the marketing environment is crucial to seizing opportunities and mitigating threats. Neglecting this can result in missed chances and vulnerability to competitive shifts or consumer preference changes. Businesses must consistently assess and adapt to stay competitive and responsive.
From Chapter 2:
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