The document discusses the micro and macro environment factors that affect businesses.
The micro environment includes internal factors like suppliers, customers, competitors, and publics that are close to the company. The macro environment includes larger societal forces like economic, demographic, technological, political/legal, and natural factors.
It then provides more details on the micro environment factors - suppliers can control business success based on power dynamics; resellers impact marketing success; customers are important to attract and retain; competitors influence pricing and marketing tactics; and the general public impacts public opinion.
The macro environment factors discussed are economic conditions, demographic trends, natural resources, technological advances, political/legal developments, and social/cultural norms that
The presentation gives some idea for the persons who are new to the "Marketing Research Process". It explains the entire process that is being processed in this Marketing Research Process.
The presentation gives some idea for the persons who are new to the "Marketing Research Process". It explains the entire process that is being processed in this Marketing Research Process.
What consumers thinking before purchasing the commodity or how they take decisions for purchasing any commodity.
This presentation covered the stages of buying process of coonsumer.So, it helps to analyse the buying behaviour of people.
The marketing environment represents a mix between the internal and external forces which surround an organization and have an impact upon it, especially their ability to build and maintain successful relationships with target customers.
The marketing environment consists of the micro and macro environment.
Macro environmental factors include social, economic, political and legal influences, together with demography and technological forces. These are sometimes referred to as the PESTLE factors and are discussed in more detail in PESTLE analysis. The organization cannot control these forces, it can only prepare for changes taking place.
Micro environment refers to the forces closely influencing the company and directly affect the organization’s relationships. The factors include the company and its current employees, its suppliers, marketing intermediaries, competitors, customers and the general public. These forces can sometimes be controlled or influenced and are explained in more detail in Porter’s 5 Forces.
Porter’s 5 Forces model is an excellent tool to analyze the structure of the competitive environment. Two important forces are the bargaining power of customers and the bargaining power of suppliers.
Supplier power is represented by their ability to determine the terms and price of supply and will increase if there are fewer suppliers than buyers, if the organization is not a key customer for the supplier, or if their industry is not attractive for suppliers.
Buyer power refers to the pressure that customers exert on companies to obtain high quality products and services at lower prices. Buyer power increases when there are few buyers and many sellers in the field, or when products are not significantly differentiated and can be easily substituted. For the seller, buyers’ demands represent costs. This means that the stronger the buyer is, the less profit available for the seller, which is why many companies try to develop strategies that reduce the power of buyers.
The PESTLE Analysis is a framework used to scan the organization’s external macro environment. The letters stand for Political, Economic Socio-cultural, Technological, Legal and Environmental.
Macro Marketing Environment of Business Environment.It is a part of Marketing Management.This PPT help you learn only the Macro part of Business environment and Factors and forces of Macro.
What consumers thinking before purchasing the commodity or how they take decisions for purchasing any commodity.
This presentation covered the stages of buying process of coonsumer.So, it helps to analyse the buying behaviour of people.
The marketing environment represents a mix between the internal and external forces which surround an organization and have an impact upon it, especially their ability to build and maintain successful relationships with target customers.
The marketing environment consists of the micro and macro environment.
Macro environmental factors include social, economic, political and legal influences, together with demography and technological forces. These are sometimes referred to as the PESTLE factors and are discussed in more detail in PESTLE analysis. The organization cannot control these forces, it can only prepare for changes taking place.
Micro environment refers to the forces closely influencing the company and directly affect the organization’s relationships. The factors include the company and its current employees, its suppliers, marketing intermediaries, competitors, customers and the general public. These forces can sometimes be controlled or influenced and are explained in more detail in Porter’s 5 Forces.
Porter’s 5 Forces model is an excellent tool to analyze the structure of the competitive environment. Two important forces are the bargaining power of customers and the bargaining power of suppliers.
Supplier power is represented by their ability to determine the terms and price of supply and will increase if there are fewer suppliers than buyers, if the organization is not a key customer for the supplier, or if their industry is not attractive for suppliers.
Buyer power refers to the pressure that customers exert on companies to obtain high quality products and services at lower prices. Buyer power increases when there are few buyers and many sellers in the field, or when products are not significantly differentiated and can be easily substituted. For the seller, buyers’ demands represent costs. This means that the stronger the buyer is, the less profit available for the seller, which is why many companies try to develop strategies that reduce the power of buyers.
The PESTLE Analysis is a framework used to scan the organization’s external macro environment. The letters stand for Political, Economic Socio-cultural, Technological, Legal and Environmental.
Macro Marketing Environment of Business Environment.It is a part of Marketing Management.This PPT help you learn only the Macro part of Business environment and Factors and forces of Macro.
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Micro and Macro Environment of Business
1. MICRO AND MACRO ENVIRONMENT
OF BUSINESS
L. PRAKASH KANNAN, M.COM., M.PHIL., (PH.D.), ASSISTANT PROFESSOR,
S. J. MONISHA, III B.COM.,
2. Meaning
Business Environment is sum or collection of all internal and external
factors such as employees, customers needs and expectations, supply and
demand, management, clients, suppliers, owners, activities by
government, innovation in technology, social trends, market trends,
economic changes etc.
These factors affect the function of the company and how a company
works directly of indirectly. Sum of these factors influences the
companies or business organisations environment and situation.
3. Meaning
✘ Micro environment
- The forces close to the company that affects its ability to serve its
customers include-the internal environment, suppliers
customers, marketing intermediaries, competitors and publics.
✘ Macro environment
- The larger societal forces that affects the whole micro
environment include-the demographic environment, the political
environment, the cultural environment, the natural environment,
the technological environment and the economic environment.
3
5. Micro environment
Suppliers
Suppliers can control the success of the business when they hold power.
The supplier holds the power when they are the only or the largest supplier of their goods; the
buyer is not vital to the supplier’s business; the supplier's product is a core part of the buyer’s
finished product and/or business.
5
6. Resellers
If the product the organisation produces is taken to market by 3rd party resellers or market
intermediaries such as retailers, wholesalers, etc. then the marketing success is impacted
by those 3rd party resellers. For example, if a retail seller is a reputable name then this
reputation can be leveraged in the marketing of the product.
Customers
Today with the advancement of technology and because of foreign collaborations, it has
become easy to manufacture any product, but it is still very difficult to sell i.e., to create,
increase and sustain the customers.
Every day we watch a new advertisement e.g., buy one tooth paste tube and take another
free along with it or take two shampoo bottles at the price of one etc., to attracting the
customers.
7. The Competition
Logically, every business that sells the same or a similar kind of product as you do is your
competition on the market. So, their sale and marketing tactics matter to you a lot. You
need to answer various questions, such as how their product and its price affects yours and
how you can make use of that in order to gain an edge over them.
The three factor that matter in this case are:
Desire Competition
Product form Competition
Brand Competition
The General Public
Every Business organisation has in its best interest to appease to the general public. Every
step that you take needs to be viewed from their perspective as well. It is extremely
important how your actions affect others because their opinion can be the one thing that
either pushes you towards success or pulls you down from the pedestal.
So the general public is very important in terms of:
Public opinion
Media
Environmental pollution
8. Macro environment factors
Economic Factors
Economic environment refers to all those economic factors which have a bearing on the functioning
of a business unit.
The environment of the economy can have an effect on two essential aspects – your company’s levels
of production and the decision-making process of your customers.
Demographic forces
Different market segments are typically impacted by common demographic forces, including
country/region; age; ethnicity; education level; household lifestyle; cultural characteristics and
movements.
Natural/physical forces
The Earth’s renewal of its natural resources such as forests, agricultural products, marine products,
etc. must be taken into account. There are also natural non-renewable resources such as oil, coal,
minerals, etc that may also impact the organisation’s production.
9. Technological Factors
The skills and knowledge applied to the production, and the technology and materials
needed for the production of products and services can also impact the smooth running
of the business and must be considered.
Technology changes very fast and a firm which is unable to cope with the
technological changes may not survive.
Political and Legal Forces
Sound marketing decisions should always take into account political and/or legal
developments relating to the organisation and its markets.
Political environment is another important constituent of the business environment
which can bring any business enterprise to the ground.
The political environment that is stable, honest, efficient and dynamic and which
ensures political participation of the people, and assures personal security to the
citizens, is a primary factor for economic development.
10. Social and Cultural forces
The impact the products and services your organisations brings to market have on society must be
considered.
Any elements of the production process or any products/servies that are harmful to society
should be eliminated to show your organisation is taking social responsibility.
A recent example of this is the environment and how many sector are being forced to review
their products and services in order to become more environmentally friendly.
Social factors include
Attitude of people to work
Attitude to wealth
Desires and expectations
Intelligence and education