The Macro Environment

Marketing is about understanding and acknowledging the needs of customers and leaving an impact on developing the absolute best product to meet their needs by the business. Marketing comes into account for any business and how they can develop to be the best and deliver the best customer satisfaction.

Marketing is about understanding customers and finding ways to provide products or services in which customers demand. Marketing is essential for a business to survive. It covers the four main areas; product, price, promotion and place. The aims and objectives of marketing are firstly to attract customers to the chosen

Marketing starting with identifying the needs of customers and ends in satisfying those wants. The goal of marketing is to attract new customers by promising higher value and to keep current customers by delivering satisfaction based on their preferences.

1. Macro environment analysis: the major externals which affect company’s decision making, marketing strategy and performance. It includes:

Macro environment or macro forces consists of the larger societal factors that have the potential to affect an organization’s strategies. According to Phillip Kotler, these variables include demographic, economic, natural, technological, political, and cultural outside forces. (“Josbd”, n.d, para. 7)

Macro environment are the external and uncontrollable factors that influence an organization’s decision making and affects its performance and strategies.

For instants, organisation structures of generating revenue might change if government impose new tax policy (Kotler, 2005). Economic involves overall economic performance in the country. Economic factors can heavily impact on company and sometimes may cause long-term effect. For instants, if rise in an inflation rate would affect the way company to put prices on their products and services. This also can effect on consumer purchasing power and spending patterns as well as change in demand and supply (What is PESTLE Analysis?

The task of marketing is to identify consumers’ needs and wants accurately, then to develop products and services that will satisfy them. For marketing to be successful, it is not sufficient to merely discover what customers require, but to find out why it is required. Only by gaining a deep and comprehensive understanding of buyer behaviour can marketing’s goals be realised. Such an understanding of buyer behaviour works to the mutual advantage of the consumer and marketer, allowing the marketer to become better equipped to satisfy the consumer’s needs efficiently and establish a loyal group of customers with positive attitudes towards the company’s products.

The Retailer I have Chosen to explore using concepts learnt from B122 is M&S I believe this is a good retailer to explore as they have a lot of different aspects to the company from food to clothing, local and international stores and a continuously growing technological platform constantly improving the way they can reach every type of customer. They cater for the elderly/middle aged customer and are moving in the right direction to be able to meet the needs of potential younger customers in their clothing department, their food products are top class and in recent years they have created brands within their food halls to cater for everyone so that all customers can enjoy quality food products for their budget. They also have a great online

Companies and industries are constantly impacted by their surroundings. For example, "all companies operate in a macro environment shaped by influences [including threats] emanating from general economic conditions; population demographics; societal values and lifestyles; legislation and regulations; technology; and closer to home the industry and competitive environment in which the company operates

The company’s macro-environment, now known as external factors are uncontrollable forces that the company must watch and also respond to (Kotler and Armstrong, 19871).

of the understanding of marketing in regard to understanding the needs of their customers which may be seen

The macro environment deals with the external and uncontrollable factors of a business. The macro environment helps the business with identifying it’s triple bottom line and can help them adjust necessary factors in their planning. The macro environment also includes analyzing different factors in the external environment, In order for the business to take the current issues and create strategies of their own on how to eliminate them for the benefit of their business. The macro environment will look at factors such as inflation, unemployment, spending and the gross domestic product.

There are many ways to collect marketing information to help your company. Identifying your customer needs will help benefit your customer and your company in the long run. Your customer is what keeps you in business if they are not happy with the quality of service or products that you provide then your company will have a very short lifespan. Marketing fundamentals show us that knowing your target audience will allow you to be more competitive against your competition. It will allow you to tailor your services towards or customer’s needs and wants. Another benefit of pleasing your customer is allowing you to gain access to important information about your competition just remember this is a two-way street which your competitor can gain the same information about you from the customer. By gaining information from your customer you will be able to identify the strengths and weaknesses or your competition and how successful they were to making your customer happy.

Macro environment consist of those major external and uncontrollable factors that influence an organization's decision making, and affect its performance and strategies.