Micro Environment The actors close to the company that affect its ability to serve its customers – the company‚ suppliers‚ marketing intermediaries‚ customer markets‚ competitors‚ and publics. 1. The Company a. All groups/departments in a firm are interlinked. 2. Suppliers a. Suppliers form an important link in the company’s overall customer value delivery system. 3. Marketing intermediaries a. Helps the company to promote‚ sell and distribute the goods and services to final buyers. These
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actions of everyone in the business. A business exists only to serve people‚ and marketing is the function that primarily determines - 1 3/19/2013 Introduction What the product or services shall be How it shall be presented‚ promoted and distributed How it shall be priced. What is Marketing? Classical Definitions ( Product Oriented View) “ The performance of business activities that directs the flow of goods and services from producer to consumer or user” “ Marketing consists of those efforts
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MICROECONOMICS | MACROECONOMICS | As the term “micro” imply‚ microeconomics facilitates decisions of smaller business sectors.Micro Economics studies the problems of individual economic units such as a firm‚ an industry‚ a consumer etc.Micro Economic studies the problems of price determination‚ resource allocation etc.While formulating economic theories‚ Micro Economics assumes that other things remain constant.The main determinant of Micro Economics is price.Microeconomics is the study of decisions
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Macro And Micro Economics Micro Economics:- Microeconomics is a 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
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Macro Environment The larger societal forces that affect the microenvironment- demographic‚ economic‚natural‚ technological‚ political‚ and cultural forces. These factors represent constraints within which all organizations including the automobile industry must function. Macro Environment For any decision there is n number of factors which influences the decision. Be it a decision related to any organisation‚ any business concern or even an individual. Thus it is per se very much necessary
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evaluate the environment not only prior to the start-up of their business but also during the growth stage of ventures. The environment means the situation where the company business ventures operate. As we know‚ ventures environment can be divided into two sections that are External environment and Internal environment. And the external environment also divided into two parts‚ which are Macro environment and Micro environment. But in this section‚ I just discuss about Macro environment. The elements
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CHAPTER 1 Business Environment Contents • Introduction • Business • Objectives of business • Environmental influences on business • Environmental analysis • Characteristics of business environment • Components of business environment • The micro and macro environment • Competitive environment • Porter’s five forces model–competitive analysis Learning Objectives The present chapter aims at: • Definitions and objective of business • Examine environment analysis‚ characteristics
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Micro Economics:- Microeconomics is a 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
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The micro-macro dilemma relates to a variety of circumstances and situations and is essential for numerous decisions daily that people make. This is particularly true for many of the business decisions that organizations make in concerns to marketing. From the perspective of marketing‚ high-powered engine in cars is a pleasurable and worthwhile option or many consumers‚ especially consumers who enjoy driving high-powered vehicles or participate in recreational activities that require the high-powered
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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
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