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By knowing how different demographics decide to

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people spend and the limits of how they purchase items. By knowing how different demographics decide to budget or utilize its cash reflects on how a business will price certain products - The natural environment is an inevitable externality. A business must make sure not to locate itself in an area of great pollution or naturally dangerous environments. However, picking a location which is high in content of a specific type of organic material can put a company at a huge advantage
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- The technological environment is an area in which not every company has adjusted to. Since generations have grown more and more dependent on the digital world, a company must be aware that if it does not conform to such settings, it may lose business to other updated competitors - The political environment consists of laws restricting companies of doing or achieving certain goals, whereas the social environment is forming advocacy or opposition to these legal matters - The cultural environment consists of certain beliefs, customs and behaviors that society may have grown adjusted to. A company needs to take this environment into consideration, because people may be opposed to certain things a business may be promoting - Based on all research conducted by the marketing environment, a company is then responsible for reacting to the information obtained. It can utilize the data to its benefits or create cautious steps to avoiding failure. Response to the knowledge of all forces affecting a market must be done quickly and carefully
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