A marketing environment is what surrounds and creates impact on business organizations. Generally there are two divisions of the marketing environment, the microenvironment and the macro environment though it must be noted that considering internal environment will surely help one understand these marketing environments better.
Internal Environment is what is within the company. This is where internal marketing and all its functions inside the organization takes place. Auditing this type of environment can be done the help of 5 Ms known as Money, Materials, Machinery, Market and Men though it must be noted that there are times when another M is added which is Minutes as time is very important in an organization’s internal resource.
An example of this environment would be a 27/4 convenience store. If you consider their marketing plans, their customer relationship, its developing of new logistics and the like when managed effectively can make it into a very successful convenience store.
Microenvironment is a type of marketing environment that is made up of individuals and organization that are very close to the company to the point that its activity produces a direct impact to the business organization’s state. Example of microenvironment includes suppliers, ad agencies, niche market, competitors and the like. This type of environment is controlled as the action of the businesses around you will have a huge influence on the running of your business.