Types of Marketing Environments | Micro & Macro Environment

The Marketing Environment is formed by the internal factors and external factors that surround an organization and affect its operations. All of these factors can’t be controlled by the business. Some of them can be controlled. The organization should have knowledge of its marketing environment so that it can plan a strategy to avoid the negative effects of the environment factors. The Marketing Environments can be classified as:rnAll the factors which are found within the organization are called internal factors. The factors can affect the company’s way to success and its business operations. The factors included in the internal environment are the company policies, budget, funding available. These factors can be controlled by the company. Micro EnvironmentrnThe factors which are close to the organization’s business operations are called the micro-environmental factors. The micro-environmental factors form the micro environment. The factors can influence the operation of the business. The factors include the customers of the firm, the competitors, the suppliers of the services, the shareholders of the firm and many more. These can be sometimes controllable and may not be controllable some other time.rn1. CustomersrnEvery firm strives to fulfill the customer’s needs and provide them the services they need.rn2. EmployeesrnThey are one of the primary components of a firm. They have a key role in the success of the firm. It is important to provide them with proper training and motivation.rn3. SuppliersrnThose individuals which supply the raw material are called suppliers. The raw material is converted to a finished product.rn4. Retailers & DistributorsrnThey can know the exact customers’ needs and requirements in a better way since they are in direct touch with them.rn5. CompetitorsrnA firm should keep a close eye on its competitors so that it can plan a sustainable strategy to take over the market.rn6. ShareholdersrnThey are the people who own the company. Marketing activities should be according to the shareholders’ shares and wills.rn7. GovernmentrnA company needs to be aware of the government policies on the various issues as pricing policy, housing policy etc.rn8. General publicrnThe brand awareness should be increased among the general public.rnMacro Environment rnThe macro environment is formed by the external factors of a company. Some of the major macro-environmental factors are given below.rn1. Political & Legal FactorsrnThis is the role of government in the economy of a country. The firm should keep it in view before planning its strategies.rn2. Economic FactorsrnThe inflation rates, the interest rates, market efficiency and the exchange rates are included in the economic factors.rn3. Social FactorsrnThe demographics of an area and the cultural aspects are major social factors.rn4. Technological FactorsrnThe impacts of changes in technology are major technological factors.rnAbove are the main two types of marketing environments and a little bit more detail about both of them. If you want to take more information about marketing environments or you are the student of business, then you need to visit business study notes for complete business studies of all the subjects of human resource management, finance or marketing.