Answer:
Internal environment refers to the factors that are within an organization's control, such as its culture, employees, management style, and resources. External environment refers to the factors that are outside an organization's control, such as competition, customer trends, and economic conditions. Both internal and external environment marketing have their own benefits:
Benefits of Internal Environment Marketing:
Better understanding of the company culture: By analyzing the internal environment, companies can gain a better understanding of their culture, values, and goals, which can help in creating a stronger brand identity.
Improved employee engagement: Internal environment marketing can help in creating a positive work environment, where employees feel valued and motivated to work harder, which can lead to increased productivity and better customer service.
Efficient use of resources: By analyzing the internal environment, companies can identify their strengths and weaknesses, which can help in making more informed decisions about how to allocate resources.
Benefits of External Environment Marketing:
Understanding customer needs and preferences: External environment marketing can help companies understand their customers' needs and preferences, which can help in creating products and services that better meet their needs.
Identifying new market opportunities: By analyzing the external environment, companies can identify new market opportunities, such as emerging trends or changes in customer behavior, which can help in expanding their customer base and increasing their revenue.
Competitive advantage: External environment marketing can help companies stay ahead of their competitors by identifying their strengths and weaknesses and by creating strategies to capitalize on their competitors' weaknesses.
Step-by-step explanation: