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The micro-environment consists of customers, partners, and competitors. [3] The most important aspect of micro-environment is the customer market. [5] There are different types of customer markets include consumer markets, business markets, government markets, globalization international markets, and reseller markets.
The situation analysis looks at both the macro-environmental factors that affect many firms within the environment and the micro-environmental factors that specifically affect the firm. The purpose of the situation analysis is to indicate to a company about the organizational and product position, as well as the overall survival of the business ...
A graphical representation of Porter's five forces. Porter's Five Forces Framework is a method of analysing the competitive environment of a business. It draws from industrial organization (IO) economics to derive five forces that determine the competitive intensity and, therefore, the attractiveness (or lack thereof) of an industry in terms of its profitability.
Microenvironment (biology), a small or relatively small usually distinctly specialized and effectively isolated biophysical environment (as of a nerve cell) Microenvironment (ecology) , also known as a microhabitat, a very small, specific area in a habitat, distinguished from its immediate surroundings by factors such as the amount of incident ...
Micromarketing was first referred to in the UK marketing press in November 1988 in respect of the application of geodemographics to consumer marketing. [1] The subject of micromarketing was developed further in an article in February 1990, which emphasised understanding markets at the local level, and also the personalisation of messages to individual consumers in the context direct marketing. [2]
A third approach to sustainable marketing is using a macro marketing approach to sustainable corporate marketing. This criticises the traditional micro and short term economic strategies and its lack of consideration for externalities and costs associated with environmental deterioration.
In business analysis, PEST analysis (political, economic, social and technological) is a framework of external macro-environmental factors used in strategic management and market research. PEST analysis was developed in 1967 by Francis Aguilar as an environmental scanning framework for businesses to understand the external conditions and ...
The marketing mix, which outlines the specifics of the product and how it will be sold, including the channels that will be used to advertise the product, [7] [8] is affected by the environment surrounding the product, [9] the results of marketing research and market research, [10] [11] and the characteristics of the product's target market. [12]