BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The marketing environment consists of a microenvironment and a macroenvironment. The microenvironment consists of the actors close to the company that affect its ability to engage and serve its customers-the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.

Detailed explanation-2: -A macro environment refers to the set of conditions that exist in the economy as a whole, rather than in a particular sector or region. In general, the macro environment includes trends in the gross domestic product (GDP), inflation, employment, spending, and monetary and fiscal policy.

Detailed explanation-3: -Micro environment refers to the environment which is in direct contact with the business organization and which can affect the functioning of business. It includes suppliers, competitors, marketing intermediaries, customers and the firm itself.

Detailed explanation-4: -the major uncontrollable, external forces (economic, demographic, technological, natural, social and cultural, legal and political) which influence a firm’s decision making and have an impact upon its performance.

Detailed explanation-5: -Demographic forces: Different market segments are typically impacted by common demographic forces, including country/region; age; ethnicity; education level; household lifestyle; cultural characteristics and movements.