micro/macro

Question 1

What is micro environment?

Answer 1

Refers to factors close to the company that affects its ability to serve its customers.

Question 2

What is Company?

Answer 2

Refers to management to ensure departments work closely with one another

Question 3

What is Competitors?

Answer 3

Refers to companies that offer competing products in the same target market.

Question 4

What are Suppliers?

Answer 4

Critical in the company’s value delivery system. They provide resources needed to produce goods and services and ensure supply availability and to control costs.

Question 5

What are marketing intermediaries?

Answer 5

Resellers, physical distribution firms, marketing service agencies and financial intermediaries that assist the company to promote, sell and distribute its products to final consumers.

Question 6

What are customers?

Answer 6

Refers to consumer markets, business markets, government markets, reseller markets and international markets.

Question 7

What are publics?

Answer 7

Any group that has an actual or potential interest in or has an impact on the company’s ability to achieve its objectives. E.g. Citizen-action publics, Media publics, Internal publics, General publics

Question 8

What is macroenvironment?

Answer 8

Refers to large societal forces that affect the microenvironment.

Question 9

List down all the factors of macroenvironment.

Answer 9

Economic
Demographic
Natural
Technological
Political
Cultural

Question 10

Economic

Answer 10

Affect consumer purchasing power and spending patterns. These factors include economic growth, interest rates, exchange rates and inflation rates.

Question 11

Demographic

Answer 11

The study of human populations in terms of size, density, location, age, gender, race and occupation.

Question 12

Natural

Answer 12

Refer to the physical environment & resources that are needed as inputs by the company or that are affected by marketing activities.

Question 13

Technological

Answer 13

Forces that create new technologies, creating new product & market opportunities.

Question 14

Political

Answer 14

Refer to laws governing competition, government agencies regulating fair trade practices, environmental protection, product safety and truth in advertising.

Question 15

Cultural

Answer 15

Refers to institutions and other forces that affect a society’s basic values, perceptions, preferences and behaviour.