Micro Environmental Factors
Micro environmental factors are closer to the company and impact the immediate environment in which a firm operates. They are more controllable than macro factors.
- Company: A company’s capabilities, resources, culture, and image can influence marketing decisions and strategies.
- Suppliers: Organizations depend on suppliers for resources. Any changes in supplier costs, availability, or quality can affect marketing.
- Marketing Intermediaries: These are firms that help the company promote, sell, and distribute its products. This category includes resellers, physical distribution firms, marketing service agencies, and financial intermediaries.
- Competitors: The strategies, strengths, weaknesses, and actions of competitors can influence a company’s competitive advantage and market positioning.
- Publics: Publics refer to any group that has an interest in or impact on an organization’s ability to achieve its objectives. This includes media, government agencies, citizen action groups, and more.
- Customers: At the heart of the micro-environment are the customers, who drive the company’s marketing decisions. They can be categorized into consumer markets, business markets, reseller markets, international markets, and government markets.
Understanding both the macro and micro environmental factors is pivotal for any marketing professional. While macro factors provide a broad perspective on the external environment, micro factors delve deep into the immediate operational surroundings. Being aware of and adapting to these dynamic factors ensures that businesses remain agile, relevant, and successful in their marketing endeavors.