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When conducting a swot analysis, managers can identify opportunities and threats by analyzing the external marketing environment.
Examining a company's industry environment through external analysis entails taking into account elements like competitive structure, competitive position, dynamics, and history. The process by which businesses unbiasedly evaluate the changes made to their industry and the larger world that could affect their current business operations is known as an external analysis, also known as environmental analysis. Companies take these steps to make sure they can adjust to changes and remain successful in their industry. Macroeconomic, international, political, social, demographic, and technological analysis are all examples of external analysis. The phrase "marketing environmental analysis" describes a strategic analysis tool that aids in locating internal and external environmental factors that have an impact on an organization's capacity to function effectively.
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