The elements of marketing environment include, the internal environment of the company, the suppliers, a number of marketing intermediaries, competitors in the market, customers and other stakeholders. They can be categorized as political, technological, demographic, legal, economic and cultural elements.
All of these elements have a strong impact on the ability of the marketing management to build successful relationships with the target customers. Just take a few examples to better understand the concept. For example, cultural factors in the marketing environment can affect the management. If a company has started its operations in the rural areas with conservative environment, then the open culture is not suitable for the management to retain the customers.
Similarly, legal structure of the state can also impact the management ability to interact with the customers. Suppose, a company supplies alcohol to a particular target market and the government announces a restriction because of some reasons. The customers and management relationships will be directly affected because of government restrictions.
Moreover, if there is political instability in a state and because of processions and some other reasons, the company is not able to provide the services timely to the customers, then again a gap will be created between the relations of customers and company's management.
All of these elements have a strong impact on the ability of the marketing management to build successful relationships with the target customers. Just take a few examples to better understand the concept. For example, cultural factors in the marketing environment can affect the management. If a company has started its operations in the rural areas with conservative environment, then the open culture is not suitable for the management to retain the customers.
Similarly, legal structure of the state can also impact the management ability to interact with the customers. Suppose, a company supplies alcohol to a particular target market and the government announces a restriction because of some reasons. The customers and management relationships will be directly affected because of government restrictions.
Moreover, if there is political instability in a state and because of processions and some other reasons, the company is not able to provide the services timely to the customers, then again a gap will be created between the relations of customers and company's management.
