...our new product Apple Watch we should make a study about its internal (micro) and external (macro) enviroment. First of all, we will describe what is the micro and macro enviroment analysis. The micro environment, as the name suggests, is the immediate environment that impacts a business. The micro environment includes considerations related to suppliers, customers and local stakeholders, including local government agencies or regulatory bodies. The micro environment can generally be considered the local environment where the business Macro Environment The macro-environment includes those things that may impact small businesses but which are outside of their control. It is the larger, external environment within which businesses operate from an industry or economic standpoint. For describing and analyzing the enviroment that involves our new product Apple Watch we should make a study about its internal (micro) and external (macro) enviroment. First of all, we will describe what is the micro and macro enviroment analysis. The micro environment, as the name suggests, is the immediate environment that impacts a business. The micro environment includes considerations related to suppliers, customers and local stakeholders, including local government agencies or regulatory bodies. The micro environment can generally be considered the local environment where the business Macro Environment The macro-environment includes those things that may impact small businesses but which are...
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...link macro-environment (noun) DEFINITION OF MACRO-ENVIRONMENT Larger societal forces that affect the micro-environment. EXAMPLES OF MACRO-ENVIRONMENT IN THE FOLLOWING TOPICS: Scanning and Analysis All organizations should continuously appraise their situation and adjust their strategy to adapt to the environment. One technique used by organizations to monitor the environment is known as environmental scanning. It allows marketers to understand the current state of the environment, so that the organization can predict trends. The Macro Environment There are a number of common approaches for how the external factors, which describe the macro environment, can be identified and examined. The segmentation of the macro environment according to the six presented factors of the PESTEL analysis is the starting point of the global environmental analysis. Environmental scanning is one technique used by organizations to monitor the environment. The Dynamic Environment It is important to place equal emphasis on both the macro and micro-environment and to react accordingly to changes within them. The Marketing Environment Two key levels of the marketing environment are the micro-environment and the macro-environment. The Micro-environment The micro-environment includes the company itself, its suppliers, marketing intermediaries, customer markets, and competitors. The company aspect of micro-environment refers to the internal environment of the company. The Macro-environment...
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...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. micro and macro environments Micro Environment Factors The suppliers: Suppliers can control the success of the business when they hold the 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. The 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. The customers: Who the customers are (B2B or B2C, local or international, etc.) and their reasons for buying the product will play a large role in how you approach the marketing of your products and services to them. The competition: Those who sell same or similar products and services as your organisation are your market competition, and they way they sell needs to be taken into account. How does their price and product differentiation impact you? How can you leverage this to reap better results and get ahead of...
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...HNC BusinessUnit 4 Marketing Principles Learning outcome 2 Micro & Macro Environment Objectives of presentation • Discover the micro marketing environment (internal) • Discover the macro marketing environment (PEST FACTORS-external) • Explain ‘The Marketing Audit’ and how the elements influence marketing decisions Integrated Marketing Integrated marketing strategies take advantage of a combination of communication tools and media to spread a message such as one-to-one marketing, mass marketing and direct marketing. The strategy is developed to ensure the company will deliver the intended value to those customers through a blend of marketing mix tools. Example of an Integrated Marketing Plan Environmental Analysis Environmental analysis is a vital exercise to complete by any company that will explore and understand the external local, national or international forces that might affect your business. The factors are largely outside the direct control of any company and can sometimes have a negative impact on their plans. Equally this can be very important as it will support the business and marketing strategy allowing the company to take advantage of potential opportunities whilst minimising the potential threats to the company. The Marketing Environment According to Philip Kotler, “A company’s marketing environment consists of the internal factors & forces, which affect the company’s ability to develop & maintain successful...
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...marketing environment? In: Marketing Advertising and Sales, Environmental Issues [Edit categories] View Slide Show * View Slide Show Related Questions * What is the difference between flyers and brochures? * Coca cola mission statement? * What is duplicate content? * The Difference Between Selling and Marketing? Answer: Marketing environment refers to the external factors that may affect a company. These can usually be split up into macro and micro analyses, where macro focuses on factors that affect the economy and industries as a whole, while micro focuses on factors within an industry, such as competition. Several tools are used to make sense of a company's business environment, such as PESTEL, SWOT, Market Life Cycle and Porters 5 forces. Market environment The market environment is a marketing term and refers to factors and forces that affect a firm’s ability to build and maintain successful relationships with customers.Three levels of the environmment are: Micro (internal) environment - small forces within the company that affect its ability to serve its customers. Meso environment – the industry in which a company operates and the industry’s market(s). Macro (national) environment - larger societal forces that affect the microenvironment.[1] Contents [hide] * 1 Micro-Environment (internal environment) * 2 Macro-Environment (external environment) * 3 Meso-Environment * 4 References * 5 External Resource Micro-Environment...
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...macro environment macro data market environment Definitions (2)Add to FlashcardsSave to FavoritesSee Examples 1. The major external and uncontrollable factors that influence an organization's decision making, and affect its performance and strategies. These factors include the economic factors; demographics; legal, political, and social conditions; technological changes; and natural forces. 2. Specific examples of macro environment influences include competitors, changes in interest rates, changes in cultural tastes, disastrous weather, or government regulations. Macroeconomic Factors and the Management Environment by Leo Sun As a new business manager, the first thing you must be in tune with is the state of microeconomics and macroeconomics. While we are trained to pay attention to the former, the latter can often catch us by surprise and sink our business instantly. Microeconomic factors are company-specific trends. These are the factors in your business that keep it afloat. Revenue, earnings and margin are the key micro factors at your company. The size of your workforce, the production volume of your products and your advertising campaigns are all micro factors as well. In short, micro factors are parts of your business that can be fine-tuned and changed by the management. Macroeconomic factors are national and global events which are out of your control. The September 11th terrorist attacks, the financial meltdown of 2008-2009 and the European sovereign debt crisis...
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...To begin, the micro environment cost of those elements which are controllable by management. Normally, the micro environment does not affect all the Companies in an industry in the same way. This is largely because of the size, capacity, capabilities and strategies which each Company use differently. For example, the raw material suppliers are given more concession to large size Companies. However, they may not give the same to small size Companies. Like the same, Companies will not mind if its closest rival is relatively small. But if the rival is large he will tend to be more conscious. Sometimes, the micro environment of various in an industry is almost the same. In such case, response to these firms to their micro environment may differ as each firm will seek to achieve a different success level. The most important factors of micro environment of business consist of competitors, suppliers, customers, public, marketing intermediaries and employees. On the other hand, macro environment is defined as the as major external factors that can influence an organization’s decision and affect its performance and strategies, (Business dictionary). These factors include political, economic, legal, technological, social, cultural and demographic. Managerial decisions are influenced by events that occur in the larger economic environment in which a Company operates. Changes in the overall level of economic activity, interest rate, unemployment rate, exchange...
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...CHAPTER 3: THE MICRO ENVIRONMENT MGMT 488 – STRATEGY AND POLICY OVERVIEW The micro environmental analysis is the second step in creating the Environmental Analysis. The micro environment examines the general business climate as it relates to the organization within its industry. The micro environment is also known as Porter’s Five Forces of Competition. The macro environment is primarily concerned with major issues and upcoming changes in the environment. The analysis looks at five areas of interest, which are 1) Power of the Buyers; 2) Power of the Suppliers; 3) Threat of Substitute Products; 4) Threat of New Entrants; and 5) Intensity of Rivalry. Notice in the following diagram, how these interact and influence each other. MGMT 488 Chapter 3 – Macro Environment POWER OF BUYERS STRONGER WHEN • • • • • • • • • • Buyers have low switching costs Buyers are large; large volume sales are important Large number of small buyers can band together Buyer demand is weak or declining Buyer demand dramatically slows (aka “a buyer’s market”) Buyer identity is important Quality and quantity of information to buyers is high Buyers can postpone purchase until a later date Product is a commodity Threat of substitute products is high WEAKER WHEN • • • • • • • Buyers purchase infrequently or in small quantities Many buyers Buyer switching costs are high Buyer demand surges (aka “a seller’s market”) Brand reputation is important Highly...
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...The Marketing Environment is Multifaceted 1. INTRODUCTION A firm needs to have extensive knowledge on what is going on around them to enable them to make the correct decisions in day-to-day activities. This means they need to know what is going on in the marketing environment (Adcock et al, 2001).The marketing environment is all the factors and forces outside the marketing department that would affect the mangers decisions. It is split into 2 sections: The Micro-environment and the Macro-Environment. These factors can bring opportunities or threats hence why managers need to ensure they are aware of them to ensure the company maximize sales and doesn’t go out of business (Baines et al, 2008). The main purpose of this report is to analyse how the Premier Inn marketing strategies relate to the current macro-environment. To enable me to critically analyse this I have taken the 3 forces; Economical, Technological and demographic. Firstly however I will review the theory on this topic. 2. MICRO-ENVIRONMENT The micro-environment forces can be summarised as the forces that directly affect the business (Armstrong et al, 2009). Evan’s (1988) believes that as they are directly affecting the business, they are much easier to identify than macro-forces which are ‘knock on effects’. The common micro-environment factors are: other departments (within the company), suppliers, marketing intermediaries, customers, competitors and public (Armstrong et al, 2009). The company will...
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...Doing Business In (Report) Leeds Metropolitan University Module: Global Business Context Doing Business In... Index 1. Introduction .................................................................................................................. 3 2. Justified country choice ................................................................................................ 3 3. Most important Characteristics seek by the company. ................................................. 4 4. How Australia fulfils the requirements. ....................................................................... 5 5. Relevant Aspects of the Australian Macro and Micro Environment............................ 6 5.1 Macro Environment. ............................................................................................... 6 5.2 Micro Environment................................................................................................. 6 6. Conclusion .................................................................................................................... 7 7. Bibliography ................................................................................................................. 8 Page 2 Doing Business In... 1. Introduction Firstly, the focus of this report will be to analyse conclusions from Global Business Context task 2 and with suitable references indicate the most appropriate country to export my student support agency service. Likewise the previous...
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...the new market youth. We will look at the micro and macro-environmental forces that can influence the marketing strategies for these products and services. We will look at whether marketers in these countries will use similar marketing strategies to influence this group or will their strategies be different from Western-based consumption marketers. Then we will take a look to see what opportunities for the U.S companies we might foresee. China and India are two of the world’s largest emerging markets that are growing rapidly. Our text states “As populations grow, so does consumer spending. As the percentage of the population of working age grows, so does economic stability. When a large share of a country's population is in the work force, that country sees income growth and high per-capita savings” (White, 2012). So as these countries grow we will see a significant increase in consumer spending. As these markets become wealthier we will see an increase in personal income growth for consumers which will increase their purchasing power. This can be an increase in food, housing accommodation, cars and energy etc... I think we will also see the younger market leaning towards branding and discretionary spending. “The most important factors in the micro environment are a firm’s competitive position and the composition of its customers. An operation has more influence on its micro environment than on the macro environment. Therefore, operators and marketers can...
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...detailed analysis of the internal and external business environment of the Nokia Company. Macro environment: Macro environment reflects those factors that are in direct control of the business. PEST analysis completely evaluates the macro environment for Nokia. PEST analysis corresponds to the political, economic, social and technological factors responsible for making any changes to the business. Political Mobile phone market is facing licensing issues like 3G/4G and new regulations. There are great security regulations. Nokia have to work within market regulations and maintain the flexibility to achieve higher network access. Economic The recent recession has adversely affected the consumer buying power thus lowering the overall sales. Another important economic factor affecting the Nokia economically is the higher costs of raw materials. These costs affect the overall costs of the products. Social Consumer is the king and its preferences can alter the selling pattern of any products. Nokia should consider the consumer demands and preferences and must include them into its products. Technological There is change of industry standards and operational frameworks. Nokia must work with telecom infrastructure providers to explore new markets. Micro Environment Five forces analysis Micro environment is the internal factors affecting the company performance. Porter’s five forces analysis presents the best model for evaluating the micro environment. Threats of new entrants Mobile phone industry...
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...1. Introduction : No Business can run in vacant place so they need environment to operate the business. Environment may be the internal or external. Internal environment means the inside the organization with employees, management, organizational culture etc. on the other hand external environment is beyond the internal environment. It is consist micro and macro environment where, marketing environment is composed all the outside factor which directly or indirectly affects in our organization. It is difficult to control, unpredictable and hard to prepare. This report is highly based on external environment of Hungry Jacks Pvt.Ltd in Australia and find out the different opportunities and threat by implementing the SWOT analysis. 2.Case...
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...iBM 1. 2. Analyze IBM strategies, to remix their businesses in order to move to the emerging higher-value spaces, in Macro and Micro environment level 3. IBM strategy PESTEL analysis in Macro level Five forces analysis in Micro level Recommendation Conclusion SOWT analysis Complexity analysis 4. o IBM understood Value was shifting in the IT industry, driven by the rising tide of global integration, a new computing paradigm and new client needs. o Economies of developing nations were growing rapidly, driven by historic investments in fundamental business infrastructure. Enterprises were looking to tap skills and expertise available all over the world and to integrate their operations globally. o Change in computing architecture was rippling across the data center and the network, along with a proliferation of technology infused into all aspects of work and life. Companies were seeking to integrate advanced technology with their business processes and operations, not only to reduce costs, but to enable innovation and growth. o IBM remixed their businesses in order to move to the emerging higher- value spaces by focusing on software and IT industry. IBM Strategies 5. IBM Strategies Hardware And Services Software IBM sold the personal computing department To Lenovo 6. PESTEL Analysis for Macro environment factors Social Political Technological Environmental Economic Legislative 7. Iraq War in 2003, affected world economy, and IBM stock fell down. Technology affects directly...
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...Macro & Micro analysis of the private gyms market sector As a group we conducted an analysis of the external market environment affecting the private gym market. Macro factors are “the number of broad forces that affect not only the company, but also the other factors within the micro environment” (Jobber 2012). We used PESTEL to analyse the external macro environment. Political/ Legal (Kemp): * Taxes – the business have to adapt to the changes in taxes. * Health and Safety – businesses need to keep up to date with regulations to reduce the chance of an injury claim. Economic (Sophie M): * Inflation – is declining meaning consumers will have more disposable income to spend on luxury services such as a gym membership. * Interest rates and exchange rates – interest rates historically low 0.5% less people are saving, creating more opportunities for gyms Social (Emily): * Influences in social media has created more of a health conscious society leading to more people wanting to go to the gym. Technological (Sophie C): * Advancement in gym equipment enables customers to surf the internet, connect with other users, stream music, watch TV, monitor heart rate as well as put their personal data into machines to make their workout tailored and personal (World Gym) Environmental (Shuaib): * The weather and the “Being Green” scheme are both external influences which will determine the success or failure of the business in terms of sales and competitive...
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