I’m a newly appointed marketing manager, I am required to carry out a market environment situation analysis.
Micro – Some of these factors are connected with the company and affect the business. These factors have an massive impact on businesses and if not taken care of, it could destroy a business. A few examples of micro environments are customers, trade unions and banks.
Micro Internals – Micro internal factors are that factors that can be controlled such as capital assets and material.
Macro – Factors that can’t be controlled but very important when marketing a product. These factors should be always under watch as it implies that you stick with legislations laws.
Below I have created a table illustrating what factors contribute to each environment.
PESTEL stands for Political, Economic, Social, Technological, Environment & Legal.
Below I have created a table illustrating the PESTEL analysis.
Production of product
The SWOT analysis is an extremely useful tool for understanding and decision-making for all sorts of situations in business and organisations. SWOT stands STRENGTHS, WEAKNESSES, OPPORTUNITIES & THREATS. SWOT analysis ensures there is good framework for reviewing strategy, position and direction for a company. It helps a business carve a sustainable