5 Questions
What does the business environment refer to?
The totality of physical and social factors affecting decision-making behavior
What is the purpose of analyzing the macro marketing environment?
To better understand the environment and adapt to societal changes
What does the external macro environment include?
Demographic, political, cultural, natural, technological, and economic forces
What is the external micro environment composed of?
Local forces affecting its ability to serve customers
What does the internal environment of an organization consist of?
Relevant physical and social factors within the organization's boundaries
Test your knowledge of the market and business environment factors that impact a firm's customer relationships and decision-making. Explore the three levels of the environment and internal elements of organizations.
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