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What is the marketing environment?

Marketing your business is the number one key to use to make your business a success and make a profit.The marketing environment that you use for your business will also have an effect.There are two different factors to use when setting up and using a marketing environment.The first is the External Factor and second is the Internal Factor.Each one is used as a different strategy to market your business and business products that is being offered to consumers.

External Factor is Micro Environment and Macro Environment.Micro Environment is a type of marketing that effects and uses the firms directly, such as consumers, distributors, suppliers, contractors, investors and so forth.They are the ones that affect the business of the firms.Macro Environment uses all factors that will have an influence on your business and business products, for example a foreign trade.Before your business can do any foreign trades, you need to know the laws and regulations that need to be followed.These laws and regulations are used in the Macro Environment.

Internal Factors are the parameters that are used within the firm or business.The five parameters that are used are the five M's; Men, Machine, Money, Materials and Markets.Each one of the five M's is essential for your business to get the most out of marketing the business product that has been created.Once the External and Internal Factors and used, the more market strategy a business will have.
Another source used for marketing environment is the Five Force Analysis.The Five Force Analysis is a tool used to ensure that a business is prepared and willing to accept risks that will need to be taken or will be made to make the business a success during marketing.The Five Force Analysis should be set up and used as a unit.The Five Force Analysis is:
- Threats of Entry
- The Power of Buyers
- The Power of Suppliers
- The Threats of Substitutes
- Competitive Rivalry
Threats of Entry are what can cause possible factors or obstacles that threaten your business and business products.You need to out think other businesses that have a similar business product and how they are going to market the business product.Your business will need to more of the business product to make more business profit and continue to grow.

The Power of Buyers if how many buyers or consumers can you bring to purchase the business product that you have created.Use marketing strategies to target consumers that will be interested in your business product.

The Power of Suppliers; suppliers can control how much you are going to sell your business product for.You have to purchase the material that is used to make your business product.Talk to suppliers and come to agreements that your business can afford and also that your business and the supplier can make a profit.

The Threats of Substitute means, what can replace your product.If your business has a number one selling product, you need to keep it that way.Always look ahead and find what new product can replace your product, for example, the cellular phone has replaced many land lines that homes have had in the past.

Competitive Rivalry is very important.There will be other business that have created the same product or service that is similar to yours.Use the other business as a competitive rivalry that will leave your business doors open as well as theirs.

The way you market your business is important.Don't let your business fail because you did not have a marketing environment that leaves your business out shining others.

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