Past demographic trends would include the shift from cities to suburbs in the 50s and 60s, the aging of the Baby Boomer generation currently, the growth of the Hispanic population over the last 20 years and the growing acceptance of the gay community recently.
A recent example of this is the environment and how many sectors are being forced to review their products and services in order to become more environmentally friendly.
It includes concepts such as demography, economy, natural forces, technology, politics, and culture. This includes the natural resources that a company uses as inputs that affects their marketing activities.
Consumer markets B2C are represented by individuals who purchase goods, products or services for their own consumption. For example, research and development have input as to the features a product can perform and accounting approves the financial side of marketing plans and budget in customer dissatisfaction.
The marketing environment consists of the micro and macro environment. The organization cannot control these forces, it can only prepare for changes taking place. These interactions are becoming increasingly more specialized. This makes consumers less willing to spend their disposable income.
Subsistence economies are based more in agriculture and consume their own industrial output. An example of demography is classifying groups of people according to the year they were born.
For example, a major reason that China is seen as an attractive market is a rapidly growing Chinese middle class that desires an increasing range of consumer goods. These may also vary from one country to another. However, in an economic expansion, job security makes people more willing to spend their disposable income.
Raw material costs might be driven up or down. G2C markets government to citizen develop when governmental institutions become sellers and citizens assume the role of buyers.
Supplierscustomers and competitors representing the micro environment of a company are analyzed within the industry analysis. For example, we can have B2E business to employeea transaction that reflects what businesses do attract and keep their employees in terms of recruitment tactics, benefits and opportunities, plus E2B employee to business.
Marketing managers must watch supply availability and other trends dealing with suppliers to ensure that product will be delivered to customers in the time frame required in order to maintain a strong customer relationship.
This includes all Departmentalization departments such as management, finance, research and development, purchasing, Business operations and accounting. Another aspect of the macro-environment is the economic environment.Marketers must assess macro factors for developing sound marketing strategy.
There are many strategic analysis tools (PEST, SWOT, Porter’s 5 Forces) to assess these macro environmental factors. PESTLE Analysis tool is widely used in the business community to find out opportunities and threats. The marketing environment consists of the micro and macro environment. Macro environmental factors include social, economic, political and legal influences, together with.
The Impact Of Micro and Macro Environment Factors on Marketing There are two kinds of external marketing environments; micro and macro. These environments’ factors are beyond the control of marketers but they still influence the decisions made when creating a strategic marketing strategy.
Marketing Environment Definition Factors & Examples. By Umar Farooq Marketing Environment. Share 1 +1.
Share. Tweet. Macro Environment Factors. Demographic Factors: Microeconomics solely focuses on marketing environmental forces that determine the. The macro environment was not likely to change in the near future so we were able to focus on micro environmental variables.
17 people found this helpful The macro environment was always changing and causing us to implement new strategies to keep our business afloat and alive.
The analysis of the macro marketing environment is to better understand the environment, adapt to the social environment and change, so as to achieve the purpose of enterprise marketing.
The six environmental factors of the PESTEL analysis are the following: Political factors.Download