BACHELOR OF BUSINESS ADMINISTRATION

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

Detailed explanation-2: -Actors in a microenvironment There are 6 actors existing in a microenvironment. They are: the company (itself), suppliers, marketing intermediaries, customer markets, competitors, and publics.

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 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.

Detailed explanation-5: -The elements that play a role in the marketing process can be divided into three groups: customers, distributors, and facilitators.