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Environmental Factors Which Influence Marketing
Decisions Marketing Essay ukessays.com /essays/marketing/environmental-factors-which-influence-marketing-decisionsmarketing-essay.php
“The Micro environment includes all factors which impact directly on a firm and its activities in relation to a particular market in which it operates and also any internal aspects of the organization which influence the development of a marketing strategy”.
“The Macro environment is concerned with the broad trends and patterns in society as a whole which may affect all markets, but will be more relevant to some than others”. Macro environment is very important for any organization by monitoring it carefully organization can identify opportunities for and threats to its business and will enable it to adopt a proactive rather than a reactive approach in the action it takes.
Micro environment:
The main thing in Micro environmental factor is the market environment which “comprise of all aspects of a market which affect the company’s relationship with its customers and the patterns of competition.
It is important because it has a major impact on the operation of a business and businesses in part can control and change it. The key elements of the market environment are suppliers, distributors, consumers, competitors and interest groups.
Micro environment can be shown through diagram constructed below:
The micro environment
Firm
Culture Skills
Organization EmployeesSuppliers
Customers
Intermediaries
Competitors
Interest Groups
Fig 4.1 the micro environment
(Reference: HND subject marketing course book page number 93)
Internal Macro environment:
The internal environment is where the firm can exercise greatest control and should possess the greatest knowledge. The internal capabilities of the organization are a key factor in generating marketing success. The analysis of the internal environment depends on an understanding of the nature of the corporate culture- the attitude and beliefs of
Decisions Marketing Essay ukessays.com /essays/marketing/environmental-factors-which-influence-marketing-decisionsmarketing-essay.php
“The Micro environment includes all factors which impact directly on a firm and its activities in relation to a particular market in which it operates and also any internal aspects of the organization which influence the development of a marketing strategy”.
“The Macro environment is concerned with the broad trends and patterns in society as a whole which may affect all markets, but will be more relevant to some than others”. Macro environment is very important for any organization by monitoring it carefully organization can identify opportunities for and threats to its business and will enable it to adopt a proactive rather than a reactive approach in the action it takes.
Micro environment:
The main thing in Micro environmental factor is the market environment which “comprise of all aspects of a market which affect the company’s relationship with its customers and the patterns of competition.
It is important because it has a major impact on the operation of a business and businesses in part can control and change it. The key elements of the market environment are suppliers, distributors, consumers, competitors and interest groups.
Micro environment can be shown through diagram constructed below:
The micro environment
Firm
Culture Skills
Organization EmployeesSuppliers
Customers
Intermediaries
Competitors
Interest Groups
Fig 4.1 the micro environment
(Reference: HND subject marketing course book page number 93)
Internal Macro environment:
The internal environment is where the firm can exercise greatest control and should possess the greatest knowledge. The internal capabilities of the organization are a key factor in generating marketing success. The analysis of the internal environment depends on an understanding of the nature of the corporate culture- the attitude and beliefs of