Marketing and Micro Environment Essay Example for Free

Marketing and Micro Environment EssayEffective marketing incorporates macro and micro-marketing strategies, terms that may not be very long-familiar to many small businesspeople. They are important concepts, though, that when applied effectively can help to boost advertising results. Even small businesses can learn howand whyto find the impacts of macro and micro impacts in their planning and strategy. Micro EnvironmentThe micro environment, as the name suggests, is the immediate environment that impacts a business. The micro environment includes considerations think 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 operates and the business owner is likely to be somewhat aware of the impacts that they are faced with. Macro EnvironmentThe macro-environment includes those things that may impact small businesses but which are outsid e of their control. It is the larger, outdoor(a) environment within which businesses operate from an industry or economic standpoint. Using Strategy EffectivelyIn considering the micro and macro impacts on a business, familiar and external factors must be considered. Businesses use a variety of tools in planning to consider these impacts, including the SWOT, which is strengths, weaknesses, opportunities and threats analysis the PEST, which is political, economic, social, technological, and Porters 5-Forces Analysis, which is the threat of new competitors, the level of competition, the threat of deputize products, and the bargaining power of customers and suppliers.