Environments that affect Marketing Management

Abstract

The marketing environment is in continual flux, spinning off new opportunities and new threats. Instead of changing in a slow and predictable way, the environment is capable of causing major surprises and shocks. The key to an organisation’s success is its ability to spot and adapt to change in the marketing environment. Every company needs to establish an environmental monitoring system that continually tracks the changing environment. A major company such as General Electric employs over one hundred professionals to monitor the marketing environment. Smaller companies have to settle for simply being alert and occasionally using outside consultants to assess their marketing environment objectively.