Can You Give An Example On Micro And Macro Environments For Any Product?
I need an explanation about the micro and macro environments for a product or a company.i need it for an urgent assignments please
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According to Marketing theory of Micheal Porter. The micro environment consists of five competitive forces which are industry competition, bargaining power of suppliers, bargaining power of buyers, threat of new entrants, and threat of substitute products. Whereas the macro environment consists of the PEST forces which are Political, Economical, Societal, Technological, as well as legal and regulatory. Hope this information helps you on the environments for products or organizations.
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Micro environment are internal factors close to the company that have a direct impact on the organizations strategy. These factors include: Customers, Employees, Suppliers, Shareholders, Media, and Competitors while macro environment is the Major external and uncontrollable factors that influence an organization's decision making, and affect its performance and strategies. These factors include the economic, demographics, legal, political, and social conditions, technological changes, and natural forces.
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