Features of Marketing Environment

The following are the features of the marketing environment:

1. Complexity: The marketing environment is composed of several factors that are interrelated and interdependent. This makes the environment complex to understand. Even a small change in one aspect has an immediate impact on the other. The interdependence between these components varies depending on the situation. Therefore, it becomes extremely difficult to predict the environment.

2. Dynamic: The marketing environment has a dynamic and ever-changing nature. Environmental factors influence the operation of a company, as a result, the organisation’s form and character continue to keep changing.

3. Relevance: The marketing environment of a business has an impact on its marketing decisions. Thus, every element of the marketing environment must be taken into account by a marketer when making an ideal choice. Simply put, a marketing programme cannot be developed or successfully implemented without considering the marketing environment.

4. Uncertainty: The nature of market factors is uncertain, so they can not be predicted accurately. A good marketer is continually working to predict various factors and develop effective strategies over time. But since they change fast, certain factors are difficult to predict in advance. This is also because of the fact, that technology and fashion have changed more often recently than ever before.

5. Storehouse of Opportunity: Marketing not only offers a threat to the company, but it also provides new opportunities. Discovering these opportunities is challenging. Only a skilled and effective marketer can appropriately spot these opportunities. The marketing manager should continuously watch and study the environment to uncover these opportunities. Successful businesses take opportunities and get rid of threats.

6. Sensitive to a Variety of Factors: The marketing environment is highly sensitive to a variety of factors. These factors may include the mindset or preferences of the consumer, the rising market demand for goods or services, changing marketing trends, etc. This atmosphere is highly sensitive to these aspects in the marketing field. The success of marketing primarily depends on the satisfaction of customers. For this, marketers need to know how consumer needs, tastes, and preferences change constantly. As a result, marketing organisations must be highly sensitive to consumer needs, desires, and demands.