Week 16 - Marketing Environment

The Marketing Environment is a term that encompasses the entire business world's environment. The two main parts of the Marketing Environment are the Internal Environment and the External Environment.

The Internal Environment includes anything and everything that a single specific company must deal with on a daily basis in order to produce their product, manage their employees, etc. For example, in the Internal Environment, a business may have to purchase or repair different kinds of equipment that is necessary to produce a product. The Internal Environment is often assessed in order to optimize the allocation of resources to be able to yield the best profits possible.

The External Environment includes two subtopics. The Micro Environment (Task Environment) and the Macro Environment (Broad Environment). The Micro Environment deals with factors that are directly related to one's business. For example, the Micro Environment includes negotiations with suppliers, adjusting prices according to competition, etc. The Macro Environment deals with factors that are not directly related to one's business. For example, a new piece of technology may emerge that could increase production output by ten percent. This change in technology changes the entire industry as a whole and is therefore part of the Macro Environment.

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Week 16 - Where AI is Headed in the Future

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Tayseer Zayed

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