Marketing micro and macro environmental factors

The five steps are fundamental in the achievement of each step and may develop each other in some form: The first step of the environmental scanning process requires the identification of the needs and the issues that have occurred that caused the organization to decide an environmental scanning is required.

The natural environment is another important factor of the macro-environment. A trend break could be a value shift in societya technological innovation that might be permanent or a paradigm change.

By doing so, they can create the kind of environment that they will prosper in and can become more efficient by marketing in areas with the greatest customer potential.

It is dynamic in nature.

micro environment analysis tools

Another aspect of the macro-environment is the economic environment. As a marketer, it is important to know the difference between the two and to focus your marketing campaign to reflect the values of a target audience. All the information is presented in a simple and concise format With all the information obtained from steps three and four, step five is all about making informed decisions.

Marketing micro and macro environmental factors

It includes the level of income, policies, and nature of an economy, economic resources, trade cycles, distribution of income and wealth. Resellers are those that hold and sell the company's product. The second step of the scanning process is gathering the information. They can influence the performance and day to day operations of the company, but for a short term only. The third steps analyzing all the information that the business has collected. The product manager has to use it proficiently. They must stay informed of trends so they can be part of the next big thing, rather than becoming outdated and suffering the consequences financially.

Any government and other regulating body can be thought of as a stakeholder. They match the distribution to the customers and include places such as Wal-Mart, Target, and Best Buy.

elements of marketing environment

Some of the weaknesses include a dependence on outside vendors as well as long term debt. When looking at the weaknesses of the organization's placing in the current business environment a formal environmental scanning is used.

The political environment influences marketing through government agencies, laws and groups. It is a part of a larger entity known as the business environment.

micro and macro environment in marketing
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Micro and Macro Environment Factors