Macro and Micro environment: How external factor can influence marketing decisions.
Macro and Micro environment:
How external factor can influence marketing decisions.
Introduction
While the managers making efforts to take advantages of their competitors on the on the inside business structure such as to cut the cost down by simplifying the staff group, the macro and micro factors are escaping detection. Unlike internal environment, the macro and micro environments of a business are not changed by the behavior of its own whilst it is hard for most firms to be ready for reaction to every significant transformation outside. For example, the influence of regime change due to a election or war is hard to anticipate but it is part of marketers’ responsibility. This essay will list and discuss briefly the macro and micro environmental factors and how they influence marketing decisions.
Macro environment
Social and Culture factors
Society is the fundamental element of macro environment. It is the costumers who are valuing products and services. However, the population, lifestyle and tradition are quiet different between regions. And the value and lifestyle of one same region is changing faster along with the time. Firms today have to adapt their products and promotion methods frequently to these changes. For example, Nike act more like a fashion brand in East Asia than a sport equipments manufacturer in Europe.
Technology
Similar to economic factors, technological renew is the hardest to predict.
As knowledge and information of human beings is exploding, firms may face different market position and costumer interests every year or even shorter time. The raising smartphone is taking the market share of ‘traditional’ personal computer. Marketers must keep anticipate these trends to let business invest on right technology. Modern manufacturers are easier to be beaten by substitute technology or products.
International Economy
The rotation of economy is a eternal problem for business all over the world. As the globalization of
How external factor can influence marketing decisions.
Introduction
While the managers making efforts to take advantages of their competitors on the on the inside business structure such as to cut the cost down by simplifying the staff group, the macro and micro factors are escaping detection. Unlike internal environment, the macro and micro environments of a business are not changed by the behavior of its own whilst it is hard for most firms to be ready for reaction to every significant transformation outside. For example, the influence of regime change due to a election or war is hard to anticipate but it is part of marketers’ responsibility. This essay will list and discuss briefly the macro and micro environmental factors and how they influence marketing decisions.
Macro environment
Social and Culture factors
Society is the fundamental element of macro environment. It is the costumers who are valuing products and services. However, the population, lifestyle and tradition are quiet different between regions. And the value and lifestyle of one same region is changing faster along with the time. Firms today have to adapt their products and promotion methods frequently to these changes. For example, Nike act more like a fashion brand in East Asia than a sport equipments manufacturer in Europe.
Technology
Similar to economic factors, technological renew is the hardest to predict.
As knowledge and information of human beings is exploding, firms may face different market position and costumer interests every year or even shorter time. The raising smartphone is taking the market share of ‘traditional’ personal computer. Marketers must keep anticipate these trends to let business invest on right technology. Modern manufacturers are easier to be beaten by substitute technology or products.
International Economy
The rotation of economy is a eternal problem for business all over the world. As the globalization of