logo

The Effect of Macro and Micro Environment on Marketing

7 Pages1079 Words63 Views
   

Added on  2021-01-03

The Effect of Macro and Micro Environment on Marketing

   Added on 2021-01-03

ShareRelated Documents
Essay
The Effect of Macro and Micro Environment on Marketing_1
Table of ContentsINTRODUCTION...........................................................................................................................1EFFECT OF MICRO AND MACRO ENVIROMENTAL FACTORS..........................................1SOCIAL, CULTURAL AND ECONOMICAL ISSUES IN RELATION WITH ETHICALBEHAVIOUR..................................................................................................................................2CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5
The Effect of Macro and Micro Environment on Marketing_2
INTRODUCTIONEvery organisation is adapting the latest trend namely Globalisation for expanding theirbusiness worldwide. It offers various new customers, business market, and high profitability forthe subsisting goods to expand (Salvatore, 2015). The cost of transportation also gets reducedbecause of internationalization which is a key factor for the firm's growth. At present, it is quiteeasy for any company to run its business globally due to resource availability and advancedtechnology. Also, the ethics in business must not be avoided because it is an importantcomponent for an organisation to flourish in the international market.EFFECT OF MICRO AND MACRO ENVIROMENTALFACTORSMicro factors of environment are the internal forces that has the potential to exertinfluence on the functioning of the firm. Below are the micro factors which has changed theessence of the current business in the worldwide environment -Suppliers – This are the individuals who are responsible for the success or failure of anenterprise. If the supplier provides low grade goods to the firm and it resell the productsto its customersthan the reputation of the entity gets effected, that creates a huge damageto the company . So, the supplier should be chosen carefully by the firm. Resellers – The resellers are the main source of distribution named as retailers orwholesalers. They are the person who supports an organisation by promoting, selling anddistributing products to the end purchaser. The resellers can affect the entity either innegative or in positive manner as per their practice of corporate social responsibility .Competition – As an organisation make its entry for expansion in the global market,ithave to face tough competition as the size of the market will be larger with an increase inthe competitors (Huhtala and et. Al 2014). By the use of latest technologies, theindustrycan advance their goods so that loyalty of customers can be gained which helps inbuilding image of the brand. This helps the company to take a competitive move tosustain for long term and to produce high profit.Customers – Total products manufactured by the organisation, are than used by thecustomers. All goods produced by the firm should be made by considering preferences,1
The Effect of Macro and Micro Environment on Marketing_3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Impact of Micro and Macro Factors
|6
|1254
|109

Corporate Social Responsibility (CSR) - Essay
|6
|1384
|424

Global Business Environment Assignment - Micro and Macro Environmental Factors
|6
|1214
|211

Assignment on Principle of Marketing
|19
|6444
|59

Business Environment
|6
|1329
|289

Analyzing the Marketing Environment | Micro and Macro
|16
|844
|74