There is a general image about marketing; it is the process of advertising and sales. In reality, marketing is a process of building and maintaining a healthy relationship with customer. In the end, the overall purpose of marketing is to run company according to needs of customers. Every industry is bound by some pressure groups, laws, competitors and public bodies, so it is hard for them to work under such circumstances. Industries should manage themselves to work within such entities. If any organization wants to be on top, they should study these elements hard and find answers for them. Marketing courses are one the most popular courses in online learning system and millions of students around the world are enrolling for diploma of marketing.
There are so many factors affecting marketing, and when they are combined together, they will create an environment. One of them is Macro-Environment, which contains the major’s factors which can affect firm and their competitors as well. Macro-Environment needs to be taken care of, and they can be handled by good PR. There are some factors of Macro-Environment.
- Marketing is a very versatile and broad field, and not only development and sale is included in this field, but also promotion and support after sale is also important. Demographic factor is very important in marketing field, because in order to select a specific or particular group of customers from large number of people, one must know all about the demography. That is the reason many marketers are using market segmentation technique for proper selection. Demographic segmentation is becoming more common and popular among the marketers, and in this technique there are socioeconomic traits are being used in order to classify customers regarding age, gender, race, ethnicity etc.
- Economy is the main factor for any kind of marketing. Weather economy is weak or strong it always has a control over marketing. Sometime bad economy can bring positive results for marketing or vice versa. For example in weak economy, making lemonade out of lemon can be beneficial on the other hand strong economy can have a negative impact on such business. In summary economy has a great impact on society and there whereabouts and eventually it will effect marketing either in good or bad ways.
- Policies and political influence are always important for any kind of business. In terms of marketing they are the back bone of any industry because it can make or break any marketing strategy. Political environment can add different risk factors which will lead any business towards loss and eventually finished. Sometime such environments constrain governments to make new policies at local or federal level. Such political environment can bring different kinds of change in the society. These changes can be legal, social, economic etc.
- Laws and policies are important for any country for fair and equal opportunity for business. But sometime governments pass the laws under political situations which can be ineffective for any business. These legal environments plays very important role in defining success of any marketing st
There are some other factors also which can affect marketing such as social and cultural values and ecological, geographical situations and technology factors. Religion is also an important factor for example a place where most the people are Hindus, The business of meat cannot be established because it is against their religion. For complete understanding of marketing environments marketing programs are the most important for new learners as well as regular students.
Tags: Macro-Environment Features and their impact on Marketing, Marketing courses