The Marketing Environment | Introduction to Business

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A common component of many marketing courses, the marketing environment consists of several external forces that can influence a business. By understanding these forces, marketers have the opportunity to adapt their marketing strategies (product, price, place, and promotion) in an attempt to cater to consumers. These forces include political, legal, and regulatory, competitive and economic, technological, and social. During this lecture we'll talk more specifically about the marketing environment, it's importance, and I'll even provide examples to help you better understand each of the marketing environment forces.