File Name: micro and macro environments .zip
Marketing pp Cite as. The term micro-environment denotes those elements over which the marketing firm has control or which it can use in order to gain information that will better help it in its marketing operations. The objective of marketing philosophy as discussed in Chapter 1 is to make profits through satisfying customers. This is accomplished through the manipulation of the variables over which a company has control in such a way as to optimise this objective.
Most important factors of micro environment of business are as follows: 1. The micro environment of the organisation consists of those elements which are controllable by the management. Normally the micro environment does not affect all the companies in an industry in the same way, because the size, capacity, capability and strategies are different. For example, the raw material suppliers are giving more concessions to large sized companies. However, they may not give the same concessions to small companies. Like the same, the competitors do not mind about the rival company if it is compared to the small, but he will be very much conscious if the rival him is large. Sometimes micro environment of the various firms in an industry is almost the same.
Every business organization is a part of the business environment, within which it operates. It is broadly classified into two categories, i. While microenvironment has a direct impact on business activities, the macro environment is a general business environment, which influences all business groups at large. It is important to learn the business environment, so as to understand the effect of various forces on business. Take a read of the given article to know the difference between microenvironment and macro environment.
However, all micro forces may not have the same effect on all firms in the industry. For example, suppliers, an important element of micro level environment, are often willing to provide the materials at relatively lower prices to big business firms. They do not have the same attitude towards relatively small business firms. Similarly, a competitive firm will start a price war if its rival firm in the industry is relatively small. If the rival firm is a big one which is a capable of retaliating any adverse action from its rival, a competitive firm will hesitate to start a price war.
Organizations operate businesses in a business environment that consists of different factors. The business environment is categorized as Micro-environment and Macro-environment. Business activities are directly affected by micro-environment while macro-environment leaves an indirect impact on all businesses on a large-scale. The difference between Micro and Macro business environment can be understood by looking at various factors of both that affects business activities. Micro-environment has a direct impact on routine business activities and associated with business at a small-scale. It consists of different forces that are specific to a particular business and are capable to influence daily operations and performance of the business for a shorter period. These forces or factors include suppliers, shareholders, customers, employees, competitors, media, etc.
The market environment or business environment is a marketing term and refers to factors and forces that affect a firm's ability to build and maintain successful customer relationships. The business environment has been defined as "the totality of physical and social factors that are taken directly into consideration in the decision-making behaviour of individuals in the organisation. The analysis of the macro marketing environment is to better understand the environment, adapt to the social environment and change, so as to achieve the purpose of enterprise marketing. The forces close to the company that affects its ability to serve its customers include-the internal environment, suppliers customers, marketing intermediaries, competitors and publics. The larger societal forces that affects the whole micro environment include-the demographic environment, the political environment, the cultural environment, the natural environment, the technological environment and the economic environment.
PDF | To be successful, companies must adapt to ongoing trends and developments in their macro and micro environments. Therefore, it is in the interest | Find.
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