Share on Facebook Businesses large and small are affected not only by their own internal factors, but also by environmental factors over which they have little if any control. Marketing decisions must take into account these environmental factors to create an accurate picture of the marketplace and the company's standing within it.
Micro Environment Factors The suppliers: Suppliers can control the success of the business when they hold the power. If the product the organisation produces is taken to market by 3rd party resellers or market intermediaries such as retailers, wholesalers, etc.
For example, if a retail seller is a reputable name then this reputation can be leveraged in the marketing of the product. Who the customers are B2B or B2C, local or international, etc.
Those who sell same or similar products and services as your organisation are your market competition, and they way they sell needs to be taken into account. How does their price and product differentiation impact you?
How can you leverage this to reap better results and get ahead of them? Your organisation has a duty to satisfy the public. Any actions of your company must be considered from the angle of the general public and how they are affected. The public have the power to help you reach your goals; just as they can also prevent you from achieving them.
Macro Environment Factors Demographic forces: The skills and knowledge applied to the production, and the technology and materials needed for production of products and services can also impact the smooth running of the business and must be considered.
Political and legal forces: Social and cultural forces: The impact the products and services your organisations brings to market have on society must be considered.
A recent example of this is the environment and how many sectors are being forced to review their products and services in order to become more environmentally friendly.
Micro and macro environments have a significant impact on the success of marketing campaigns, and therefore the factors of these environments should be considered in-depth during the decision making process of a strategic marketer.
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Print Reference this. Disclaimer: As macro environmental factors always effect the development and planning of every business, same as Tesco also has or will have some influences of macro environmental factors towards its marketing decision making.
Various Environmental factors Affecting Marketing process. Various factors affecting marketing process. The environmental factors that are affecting marketing process can be classified into: 1) Internal environment and 2) External environment Internal Environment of Marketing: This refers to factors existing within a marketing firm.
Macro Environment These are the major external and uncontrollable factors that influence an organization's decision making, and affect its performance and initiativeblog.com macro environment is typically segmented for the reasons of analysis.
“A company’s marketing environment consists of the actors and forces outside of marketing that affect marketing management ability to build and maintain successful relationships with target customers”.
Macro Environment Factors. Demographic Example of Marketing Environment.
The study of decisions that people and . Macro Environment These are the major external and uncontrollable factors that influence an organization's decision making, and affect its performance and initiativeblog.com macro environment is typically segmented for the reasons of analysis.
Marketing decisions must take into account these environmental factors to create an accurate picture of the marketplace and the company's standing within it. To ignore the outside factors is to set yourself up for failed marketing and lost revenue that can, in turn, affect the health of your entire brand.