Micro environment factors which could influence Dynamic International Ltd are: Employees Employees are critical to success of the organisation, the dynamic international is hand gloves manufacturing company and their employees are the ones responsible for keeping their company going. Administrative law, Culture, Economics 876 Words 4 Pages Macro vs. The micro marketing environment that surrounds organisations can be complex by nature, however the company has an element of control over how it operates within this environment. Company, its suppliers, distributors, and its competitors are also impacted by what is happening in the world. Caffeine, Coca-Cola, Cola 886 Words 4 Pages changeable marketing environment Lovelock, 2002. However, understanding how these perspectives yield different results can help you make a more informed decision about which path to use to improve your business activities.
The proposed research question was: Identify the macro. The political environment includes all laws, government agencies, and lobbying groups that influence or restrict individuals or organizations in the society. Economics, Inflation, Macroeconomics 777 Words 3 Pages manager of Dynamic International Ltd. There are different departments in the company who collectively responsible to make the products. Rather than examining a process based on individual basis or a small customer base, it examines the marketing process as a whole. The results of this analysis allow the company to see where their strengths are when adapting to the macro environment and where they could improve on their methods. Think of it this way- microevolution is change within a species, macro is simply micro over time.
In summary, the macro environment is involved with the industries, companies, markets, clients and competitors, while the micro environment can be represented by the suppliers, competitors. One of my favorite examples is the example of the salamanders that split up in the valley of California. While it seems Microeconomics is totally the opposite of Macroeconomics, they are actually interdependent and complement one another. Macro marketing Refers to the external. Vendors and Salespeople Your vendors and salespeople have direct influence over the final result of your marketing efforts.
Technological advances and political conditions are examples of influential factors a company must adapt to when making decisions. The population is also one of potential opportunities of business. This involves laws, government agencies and pressure groups. Economic growth, Economics, Inflation 833 Words 3 Pages economy, politics, demographics, and social trends. Advancements in research and innovation, changes in political stability or cultural framework are macro factors often influencing long-term strategic management, or even the objectives of a firm.
For instance, symbols may carry a negative meaning in another culture. For example the relationship between adult children and their parents, or the effect of negative attitudes on older people. Just like the human body which may die if it fails to adjust to environmental modifications, so the business also may lose if it does not adapt to external and internal changes Sowell, 2011. Understanding customer needs is central to achieving this aim, but marketers must also be aware of factors that can cause customer needs to evolve. In Figure 4, the plants in the two rows have different micro-environments resulting from different plant spacings, and this difference will affect numerous later in development. It allows marketers to understand the current state of the environment, so that the organization can predict trends. A change in customer needs will impact upon the organisation's ability to serve its customers.
It also focuses on entire markets of goods and services like sugar, prescription drugs, and telephones. They provide customer feedback and their own impressions and can drastically affect your marketing as a result. Your products must be in a relevant distribution channel for easy accessibility by the consumer. This is important in microeconomics because individuals often have limited income when making decisions. Let us now look into these elements in detail.
It consists of all the forces that shape opportunities, but also pose threats to the company. It is surrounded by and operates in a larger context. And the other important element of this environment is a competitor; which refers to the firms and companies in the market which offer the substitute or near substitute products and try to gain more of the market share regarding sales. It also gives an example of a project and assigns classification of either macro or micro risk management. This does work inversely as well; as income drops the consumer is more likely to purchase lower quality products.
Macro and micro environments both fall into the categories of environmental scanning. The Macro Environment consists of 6 different forces. The current observable mutations prove it, and the fossil record, with its absolute lack of transitional fossils also proves it. Force has both magnitude and direction. Macro- Environment Analysis An enterprise successful outcome does not only rely on the effective managing methods of the organization.