Business Macro Micro Environment

Business Macro Micro Environment

Micro Environment and Business Planning

The term micro-environment denotes those elements over which the marketing firm has control or which it can use in order to gain information that will better help it in its marketing operations. In other words, these are elements that can be manipulated, or used to glean information, in order to provide fuller satisfaction to the company's customers. The objective of marketing philosophy is to make profits through satisfying customers. This is accomplished through the manipulation of the variables over which a company has control in such a way as to optimise this objective. The variables are what Neil Borden has termed 'the marketing mix' which is a combination of all the 'ingredients' in a 'recipe' that is designed to prove most attractive to customers. In this case the ingredients are individual elements that marketing can manipulate into the most appropriate mix (Dunn 2000 45-89). E Jerome McCarthy further dubbed the variables that the company can control in order to reach its target market the 'four Ps'. Each of these is discussed in detail in later chapters, but a brief discussion now follows upon each of these elements of the marketing mix together with an explanation of how they fit into the overall notion of marketing. An overview of the micro environment concepts are mentioned in this report. It contains fundamental issues of marketing. They are explained in general first and then are described in reference to the company. Hero Honda India ltd India's leading motor cycle company is spoken about. This report explains the issues Hero Honda is facing in India.

Marketing is a social and managerial process whereby individuals and groups obtain what they need and want through creating and exchanging products and values with others (KOTLER & ARMSTRONG, 2004)

If a company has to succeed it has to understand the basic concepts of marketing, micro and macro. Firstly, I would speak about marketing in general .i.e. its concepts and fundamental issues in marketing. Secondly, this assignment will talk about nature and level of competition, competitive strategy profile, etc. Marketing is a social and managerial process whereby individuals and groups obtain what they need and want through creating and exchanging products and values with others.

There are two main activities, which are most significant in marketing:

Matching the product with demand.

Transfer of ownership and possession at every stage in the flow of goods from the primary producers to ultimate consumer.

What is Market?

The set of all actual and potential buyers of a product (Kotler & Armstrong, 2004) Markets can be classified on the basis of:

a.Selling area- local, national, international markets.

b.Nature of exchange-cash / spot market, futures/forward market.

c.;Nature of goods sold-consumer, industrial goods market.

d.Period - short term, long term markets e.g. Money market, capital market.

e.Nature and magnitude of selling- wholesale and retail markets.

So we first need to identify which kind of market we are looking for. Marketing management is carrying out tasks to achieve desired exchanges with target ...