Macro environments relates to the larger forces that have an impact on society as a whole and not just on one or a few organizations. A single organization cannot usually have a significant impact on these forces and therefore can only adapt its marketing mix to account for the opportunities and threats that arise. The company’s macro-environment consists of six major forces that impact on organizations. The six major forces are demographic trends‚ economic trends‚ natural trends‚ technological
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Macro environment‚ one of the three key elements of the marketing environment explains the influences of broader societal forces. These major external forces are not controllable‚ but being aware of the environmental factors and its changes will be of great advantage for growing the business (Angela‚ 2012). In the travel business‚ the operation does not depend only on the internal functioning but is also affected by external factors. Wotif is also affected by these internal and external factors.
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The ‘environment’ is everything happening in the world outside that is relevant to your business. As Baines(2011) describe : “The operating environment for all organisations is never static and seldom entirely predictable‚ and can therefore profoundly affect a company’s course of action.” Only after examine the nature of the marketing environment‚ we can therefore set up appropriate marketing strategies for organisation. Generally‚ the marketing environment can be classified into three levels: the
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“Economics has never been a science - and it is even less now than a few years ago.”…Paul Samuelson INTRODUCTION Economics is the social science that analyzes the production‚ distribution‚ and consumption of goods and services. A focus of the subject is how economic agents behave or interact and how economies work. A given economy is the result of a process that involves its technological evolution‚ history and social organization‚ as well as its geography‚ natural resource endowment‚ and ecology
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Macro & Micro Marketing Planning & Strategies by Leigh Richards‚ Demand Media Marketing strategy must be considered at the micro and macro levels. Related Articles Five Marketing Strategies for the Small Business What Is Marketing Strategy Planning? Examples of Strategy in Marketing Planning Relationship Between Strategic Planning & Marketing Strategies Hospitality Marketing & Communication Marketing Strategy & Structure Effective marketing incorporates macro and micro-marketing strategies
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Macro environment is the external and uncontrollable factors that influence a company’s or product’s development. Billabong must know the value of each of the macro environment factors; such as‚ economic‚ demographics ‚ and lifestyle‚ technology and natural forces. Before companies‚ or in our case Billabong‚ produce a new products‚ they should study each macro environment force carefully. Each force have its effects on the market. Economic forces affect the consumer buying power and spending
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The Macro-environment The macro-environment includes concepts such as demography‚ economy‚ natural forces‚ technology‚ politics‚ and culture. Demography refers to studying human populations in terms of size‚ density‚ location‚ age‚ gender‚ race‚ and occupation. This helps to divide the population into market segments which can be beneficial to a marketer in deciding how to tailor their marketing plan to attract that demographic. The economic environment refers to the purchasing power of
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MICROENVIRONMENT Micro environment means the environment with in the organization/company which is totally under the control. a. The company itself (including departments). b. Suppliers. c. Marketing channel firms (intermediaries). d. Customer markets. e. Competitors. f. Publics. 1. The Company’s Microenvironment a. The Company The first factor is the company itself 1). Top management is responsible for setting the company’s mission‚ objectives‚ broad strategies‚ and policies
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Economics with Study Guide. Cincinnati: South-Western College Publishing. • "Macroeconomics/Microeconomics." Encyclopedia of Business and Finance. Ed. Allison McClintic Marion. Gale Cengage‚ 2001. eNotes.com. 2006. 20 Nov‚ 2009 • McCrane‚ Jim. “Macro vs. Microeconomics: How Do The Courses Compare?” ----------------------- [1] Source->
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market research capabilities... etc? How and where do you find this information*? You can find this from company’s mission statement‚ advertising slogans‚ and other places (e.g.‚ company’s website‚ information for investors‚ leaflets). *This is where SWOT and Porter’s can come in (PEST is not very relevant for this assignment’s topic). Do not to re-analyse the company. You can put your slides if they are relevant in appendix (it is not part of the final word count) 2. This essay is about Nike’s
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