What is Meant by Micro Environment
Microenvironments are factors or elements that directly affect a firm's business performance and success.
It is very important that they analyze their microenvironment well before deciding on a business strategy.
Factors of analysis include competitors, customers, distribution, suppliers and audience.
Definitions of microenvironmental analysis are given below:
1. The macro environment consists of groups, forces, and elements or factors beyond our control.
2. Microenvironmental element directly affects marketing activity.
3. These elements will help the organization to implement marketing strategy, policy and planning.
4. These elements are closely related to the elements of companies.
It is very important that they analyze their microenvironment well before deciding on a business strategy.
Factors of analysis include competitors, customers, distribution, suppliers and audience.
Definitions of microenvironmental analysis are given below:
1. The macro environment consists of groups, forces, and elements or factors beyond our control.
2. Microenvironmental element directly affects marketing activity.
3. These elements will help the organization to implement marketing strategy, policy and planning.
4. These elements are closely related to the elements of companies.
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