Question

Pick a specific company or industry and then list and describe one macro and one micro environmental factor that must be considered by that organization when it tries to successfully market to their customers.

Answer 1

Company name: Star bucks

One macro environmental factor is Demographic factors.

One micro environmental factor is customer

Demographic factors should be considered by any company as demographic segments also play a vital role in company success depending on market segmentation basing on these factors. These are education level, age , gender , lifestyle and culture.

Without knowing the demographic factors of that place we cannot do market segmentation. Without market segmentation we cannot say whether our firm will succeed or not in that place.

Customer is one of the major and important micro environmental factor because without a customer no business in this world will be there. They are important because if there are no customers the business will run into losses and they have to shut down the firms.

So these are the important macro and micro environmental factors.