Micro vs. Macro Economics Micro-indiidual consumers/firms Macro-economic aggregates-GDP‚ inflations‚ unemployment Markets-opportunity for exchange 1) Opportunity Costs-value of the next best for gone alternative when a decision is made -all decisions involve an opportunity cost (assuming the firm operates efficiently) 2) Marginal Analysis-analyze situations involving incremental change -marginal: something is changing by a small amount (incremental/one-unit change) 3) Laws of supply and
Premium Supply and demand Consumer theory Economics
Macro-environment Demography Research shows‚ that Costco’s way of doing research is a unique way‚ indeed it uses its membership concept to gather statistics on its customers that in turn did not involve extensive research. They are put into groups business owners and licensed professionals‚ depending on the job role‚ for instance‚ business owners and licensed professionals which are in one group and this allows them to minimize the risk involved with accepting cheques and makes it possible to
Premium Costco Sam's Club Wal-Mart
Unit 2 Macro-Trend Analysis BUS 620 Larry Fiegle Tina Haller May‚ 3‚ 2012 Hybrid Vehicle Macro-Trend Analysis Introduction As gas prices continue to rise‚ people have started to trend toward more energy efficient means of transportation. Hybrid vehicles have an electric motor along with rechargeable batteries and have an increased efficiency of up to 50 percent. There is an onboard computer that switches between gas and electric power. The hybrid car runs on the energy of the battery when
Premium Hybrid vehicle Plug-in hybrid Electric vehicle
alter PC become near to commodity product. Thus this leads to low market share industry. In addition‚ strong power of suppliers‚ a lot of competitors and strong power of consumers create the industry as low margin industry. * Macro environment Macro environment is a far environment which comprise of several forces that raise strategic issue to Apple. These forces are social force‚ economic force‚ politic force‚ and technology force which well known as PEST (figure 3). 1- Technology
Premium Microsoft Windows Personal computer Operating system
Chapter 2 Macro Environment The Macro Environment Demographic Figure 2. [ 1 ] (Taylor‚ 2009) The different types of music that exist are often subject to a lot of discussions and used as ice-breakers when meeting new people. It is hard to find somebody who does not like music at all‚ but the taste of music is often diverse and broad. This often depends not only on the gender of the people‚ but also on the age and what kind of music was popular when they were growing up and that they were exposed
Premium Pop music Rock music Rock and roll
1. INTRODUCTION TO MARKETING RESEARCH Market research is any organized effort to gather information about markets or customers. It is a very important component of business strategy. The term is commonly interchanged with marketing research; however‚ expert practitioners may wish to draw a distinction‚ in that marketing research is concerned specifically about marketing processes‚ while market research is concerned specifically with markets. Market research as defined by the ICC/ESOMAR
Premium Milk Marketing Marketing research
Introduction 3 2. External macro-environment 3 2.1 Social and cultural forces 3 2.1.1 Changing gender roles 3 2.1.2 Attitude towards health‚ nutrition and well-being 3 2.1.3 Cultural beliefs in a country 4 2.2 Technology 4 2.2.1 Advantages of technology 4 2.2.2 Disadvantages of technology 5 2.3 Demography 5 3. Conclusion 6 4. References Lists 7 1. Introduction This report is discussing about how three major forces of macro environment affecting an organisation’s
Premium Marketing Gender role Culture
The Risk of Macros Based on the Lenning (2005)‚ article and reading from the Microsoft web site a user should accept the primary security that is placed on the user’s computer by Microsoft. The security’s purpose is to protect the computer’s hardware as well as the data saved to the computer. Unknown macros downloaded by the user may cause the Microsoft security system to think it has a virus. The user must be cautious when choosing whether to use a signed or unsigned macro. Many unsigned
Premium Computer virus Password Microsoft Excel
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
Premium Economics Marketing Change
branch of economics that analyzes the market behavior of individual consumers and firms in an attempt to understand the decision-making process of firms and households. It is concerned with the interaction between individual buyers and sellers and the factors that influence the choices made by buyers and sellers. In particular‚ microeconomics focuses on patterns of supply and demand and the determination of price and output in individual markets (e.g. coffee industry). Areas microeconomics covers:
Free Economics