micro environment

Examples of micro environment in the following topics:

• The Dynamic Environment

  • It is important to place equal emphasis on both the macro and micro-environment and to react accordingly to changes within them.
  • Two key levels of the marketing environment are the micro-environment and the macro-environment.
  • The micro-environment includes the company itself, its suppliers, marketing intermediaries, customer markets, and competitors.
  • The company aspect of micro-environment refers to the internal environment of the company.
  • The suppliers of a company are also a part of the micro-environment because even the slightest delay in receiving supplies can result in customer dissatisfaction.

• Trends

  • The micro environment refers to the forces that are close to the company and affect its ability to serve its customers.
  • The technological environment is perhaps one of the fastest changing factors in the macro environment.
  • The corporate aspect of the micro environment refers to the internal environment of a company.
  • The suppliers of a company are also an important aspect of the micro environment.

• Marketing Plan Elements

  • A technology startup's marketing plan may not be the same as that of a more established company due to the different environments in which they operate.
  • For example, a technology startup's marketing plan may not be the same as that of a more established company due to the different environments in which they operate.
  • It 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 the organizational and product position of the company, as well as the overall survival of the business within the environment.
  • Companies must be able to provide a summary of opportunities and problems that may be encountered within the environment to gauge an understanding of their own capabilities within the market.

• Conducting a Situational Analysis

  • Managers can use various methods of analysis to understand the firm's own capabilities, customers, and business environment.
  • Managers use it to analyze the internal and external environment of an organization and the firm's own capabilities, customers, and business environment.
  • A situation analysis is often referred to as a "3C analysis", but when extended to a 5C analysis it allows businesses to gain more information about the internal, macro and micro-environmental factors within the environment.
  • The 5C analysis is considered the most useful, comprehensive and common way to analyze the market environment.
  • A SWOT analysis is another method under the situation analysis that examines the Strengths and Weaknesses of a company (internal environment) as well as the Opportunities and Threats within the market (external environment) .

• Trends in Retailing

  • Micro-retailing has begun to take hold in some areas with emerging economies or ones that are bouncing back from economic hard times.
  • Give examples of the current technological trends impacting the retailing environment

• Settling the List Price

  • Pricing is a key variable in micro-economic price allocation theory and part of the four "P's-" of the marketing mix; pricing, product, promotion and place.
  • Micro-marketing is the practice of tailoring products, brands (micro-brands), and promotions to meet the needs and wants of micro-segments within a market.

• Measuring Effectiveness of Public Relations Efforts

  • Social media measurementrefers to tracking various social content such as blogs, wikis, news sites, micro-blogs such as Twitter, social networking sites, video/photo sharing websites, forums, message boards, blogs, and other user-generated content to determine the volume and sentiment of online conversation about a brand or topic, and to gain insight on consumer choices.

• Environmental Management

  • Companies which have the environmental management perspective take actions to influence their marketing environment.
  • Some companies treat the external marketing environment as if it were an uncontrollable force.
  • Instead of doing nothing or reacting to change, companies with this perspective take actions to influence their marketing environment.
  • Cathay Pacific Airlines is an example of a company that chose to manage their external environment even though it seemed to some people that the situation was totally out of their control.
  • Cathay Pacific Airlines has successfully managed changes in their external environment.

• Responding to the External Environment

  • Marketers can respond in three basic ways to their environment – doing nothing, being proactive, or reacting.
  • A less common response is to be proactive, or to try to change the environment before it changes the marketplace.
  • Regardless of the response to the external environment, marketers should be driven by an overarching vision, mission, and strategy, all of which provide clarity in how to react to change with tactics that are adaptive and responsive.

• Scanning and Analysis

  • Environmental scanning is one technique used by organizations to monitor the environment.
  • All organizations should continuously appraise their situation and adjust their strategy to adapt to the environment.
  • One technique used by organizations to monitor the environment is known as environmental scanning.
  • It allows marketers to understand the current state of the environment, so that the organization can predict trends.
  • There are a number of common approaches for how the external factors, which describe the macro environment, can be identified and examined.