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5 Factors Important Elements of the Micro Environment – Ibusinessmotivation

5 Factors Important Elements of Micro Environment in Marketing

Hello, Elements of the Micro Environment, what is the cottage environmental factor? Indicates factors and Factors in the immediate area of ​​operation of a microenvironment firm. This affects the ability of the marketing manager to serve customers. And this includes both internal as well as external factors.

As such, internal Factors comprise the top management of the company and its various divisions such as the purchasing department, production department, research, and development department, finance department, and personnel department. Which all departments within an organization have the ability to positively or negatively influence the objectives of the firm. Important Elements of the Micro Environment

These factors are generally under the control of the firm. This is so. Because these have to coordinate with each other, but external factors cannot be controlled by the firm. The external micro-environment includes. Therefore, we have to look at five important factors. So that we can get help or knowledge for you and you.

What is Elements of Micro Environment in Marketing

#1. Publics
#2. Competitors
#3. Customer
#4. Marketing Intermediary
#5. Suppliers

#1. Publics

This company’s microenvironment also includes various public, ie groups of people. Which means ‘public’ from any such group. Who has a genuine or potential interest in the company’s ability to achieve its objectives? Or can contribute through a public marketing program.

Can interrupt marketing activities through positive word of mouth or negative word of mouth. For this, the following seven elements were published below which we must look at. Internal Public: The internal public of a company consists of its workers, managers, and board of directors. Large companies use newspapers and other means to inform and motivate their internal public. When employees feel good about their company, this positive attitude dominates the outside public.

Common Junta: A company should be concerned about the attitude of the people towards their products and activities. The public image of the company affects its purchase.

Local public: Each company has a local public, such as neighborhood residents and community organizations.

Citizen-Action Public: The Company’s marketing decisions can be questioned by consumer organizations, environmental groups, minority groups, and others. Its public relations department can help keep in touch with consumer and civic groups.

Government Public: management should keep government development in mind. Marketers should often consult company lawyers on issues of product safety, truth advertising, and other matters.

Media public: They are equipped with mechanisms or tools that have news, features, and editorial opinions. These include newspapers, magazines, radio, and television stations.

Financial public: Those groups affect the ability of a company to obtain funds. Examples of major financial publications are banks, investment houses, and shareholders.

#2. Competitors

We are competitive rival business firms in an effort to meet market and consumer demands. Which, since they are competing with each other, and how a firm’s marketing decisions not only affect consumer reactions to the market but also influence the marketing strategies of other competitors.

This is because marketers will have to continuously monitor the marketing activities of the rival firm, the marketing strategy of their products, distribution channels, prices, and promotional strategy. By which they should gain strategic advantage by placing their products and services firmly against their rivals, and keeping in mind of consumers. If you do business, then it can be an important tool for you.

#3. Customer:

This can be a customer, an individual or household, an organization that buys a product for use in the production of your other products, or an organization that buys a product for resale at a profit. This customer factor of the marketing environment has a great influence on marketing decisions.

Which becomes a marketing expert, or marketer, developed and marketing messages to appeal to the needs of the company’s individual customers. And this goal can be grouped as follows. Which you should definitely pay attention to.International market: organizations of other countries and countries purchasing for their consumption or industrial use or both. They can be foreign consumers, manufacturers, resellers, and governments.

Government and another not-for-profit market: entities purchasing goods and services to produce public services. They transfer these goods and services to those who in most cases need them for consumption.

Reseller market: organizations buy goods and services with a view to selling them to others for a profit. They can be sold to middlemen and retailers.

Industrial market: organizations are buying for the production of other goods and services, either for the purpose of making a profit or to fulfill other objectives or both.

Consumer Markets: Individuals and families purchasing products for consumption.

#4. Marketing Intermediary

These marketing intermediaries are independent individuals or organizations. Which directly helps in the free flow of goods and services between marketing organizations and customers. Which, in general, are of two types, namely ‘agent’ and ‘merchant’. And merchant middlemen can be wholesalers and retailers. Whereby agent middlemen are an important part of the distribution network.

And render important services in various capacities. Organizations usually rely on banks, venture capitalists, and other sources to finance their operations. And warehouses and transport companies to deliver their goods; And advertising, market research firms, and public relations firms for marketing their products. Which can potentially increase or decrease each intermediary production and customer satisfaction? If you do business, then it can be an important tool for you.

#5. Suppliers

These suppliers include all business firms or individuals. Which provides raw materials, components, and semi-finished materials used in production. Either they also sell the finished products of the organization. Which at times is the inability of either firm to be a buyer on either firm. Which is input to whole vendors and retailers or a manufacturer? The buyer-supplier relationship is considered one of mutual economic dependence, as both parties are dependent on each other for their commercial welfare. Although both parties seek stability and security from their relationship, and the factors of the supplier environment are subject to change.

If we say, for example, a shortage of raw materials or a sudden rise in raw material prices forces suppliers to raise prices, or an industrial dispute may affect the delivery of materials to a company that purchases. Any unexpected development in the supplier environment can have an immediate and potentially serious impact on the firm’s commercial operations and production.

Which is important for a firm. It should also monitor potential changes in the supplier environment and prepare contingency plans to deal with activities that disrupt production activities. If you do business, then it can be an important tool for you.

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