Micro and Macro Environment in Marketing

This essay discusses the micro and macro environment in marketing, including their factors and tools used to study them. It also explores the comprehensive model of marketing, marketing mix, STP model, and marketing plan.

Essay

Contents
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References...................................................................................................................................................5

Essay
Micro environment consists of factor which are closer to the business and carries a direct
and strong influence on the business operations. The factors which are covered in micro
environment are suppliers, customers, competitors and employees. The tool which is used to
study micro environment is known as COSMIC study. Whereas, Macro environment are the
factor which are present outside and are beyond the control of a business organisation. The
macro environment includes factors such as political, social, technological and cultural forces
which are present in the environment. PESTLE is an analytical tool used to examine factor
influencing the business.
Marketing is referred to a term that is used mention all the business functions that are
being carried out by an organisation to stimulate and fulfill demands of its target population
(Armstrong and et al., 2018).
Marketing is referred to be an area which focusing on designing strategies that helps in
building long term and profitable relationships with customers. Concept of marketing aims to
identify the needs and expectation of its target customers and aims to satisfy the same through
delivering value (Chaffey and Ellis-Chadwick, 2019). On the other hand, sales orientation
approach focuses on selling maximum number of units of a product without worrying about the
marketing and there is lesser consideration to needs and expectations of the customers.
The comprehensive model of marketing carries a clearly defined series of steps which are
to be considered by a marketer before devising a promotional strategy. It is a three phase
marketing process which begins with planning through consideration of internal and external
factors then it moves further implementation of the plan that has been created and final step is
evaluation or control that attempts to identify the deviations in the plan and correcting them
simultaneously.
Marketing mix is referred to a combination of actions and tactics which has been
employed by a business to succeed in the market (Massingham and Pomering, 2017). These are
generally employed with a view to promote products and services of the company that ultimately
results in higher revenue for an enterprise. The elements which are covered under 7P’s of
marketing are product, price, place, promotion, people, physical environment and finally process.
All the elements influence each other therefore needs to be used with lot of careful planning and
implementation.
STP stands for Segmentation, targeting and positioning. This model is generally
employed to marketers to design their strategies and promotions for a specific target audience.
The use of this model enhances the relevancy of promotional programs for their audience which
directly makes them more attractive and commercially beneficial for an organisation (Kipnis and

Demangeot, 2017). STP is helpful for a marketer in identifying the most suitable target audience
who are further approached with custom designed marketing program.
A marketing plan outlines the major strategies and tactics which will be used by an
organisation to promote their products and services. It is a document that is generally prepared
by the marketing department of an organisation outlining the initiatives and strategies designed
to promote products and services of the company (Fotiadis, Mombeuil and Valek, 2018). The
elements of the marketing plan can be identified with the help of using SOSTAC model. This is
one of the renowned tool of marketing planning which has been developed by PR Smith. The
major elements which are covered under this model are Situation (present circumstances),
marketing objectives, strategy to achieve the objectives established, tactics, action plan and
finally control measures.

References
Chaffey, D. and Ellis-Chadwick, F., 2019. Digital marketing. Pearson UK.
Armstrong, G.M. and et al., 2018. Marketing: an introduction. Pearson UK.
Massingham, P.R. and Pomering, A.A., 2017. Introducing Knowledge Management to the
Marketing Mix.
Kipnis, Y. and Demangeot, C., 2017, May. Developing new marketing approaches and models
for the multicultural marketplace. In European Marketing Academy (EMAC) conference 2017,
Groningen-Netherlands. European MArketing Academy (EMAC).
Fotiadis, A., Mombeuil, C. and Valek, N.S., 2018. Designing and Implementing a Marketing
Plan'. The Emerald Handbook of Entrepreneurship in Tourism, Travel and Hospitality. Emerald
Publishing Limited, pp.297-311.