BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Customers purchase particular products a company makes, and their satisfaction is the main goal of any organization. To satisfy customers’ needs, companies will research and create products that will fulfill their expectations.

Detailed explanation-2: -Examples of these factors include the company’s suppliers, resellers, customers, and competition. The micro environment is specific to a business or the immediate location or sector in which it operates. In contrast, the macro environment refers to broader factors that can affect a business.

Detailed explanation-3: -Micro environment. The micro-environment consists of customers, partners, and competitors. The most important aspect of micro-environment is the customer market.

Detailed explanation-4: -Micro-environment factors include internal factors i.e. customers, suppliers, competitors, etc. whereas macro-environment has external factors like political, social, economic, etc.

Detailed explanation-5: -the factors or elements in a firm’s immediate environment which affect its performance and decision-making; these elements include the firm’s suppliers, competitors, marketing intermediaries, customers and publics.