BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -According to Philip Kotler, “A public is any group that has an actual or potential interest in or impact on a company’s ability to achieve its objectives.” The environmentalists, consumer protection groups, media persons and local people are some of the well-known examples of publics.

Detailed explanation-2: -Micro environment refers to the environment which is in direct contact with company and affects the routine activities of business straight away. It is a collection of forces or factors that are close to the organization and can influence the performance as well as the day to day activities of the firm.

Detailed explanation-3: -Publics: A group that has an actual or potential interest in or impact on an organization’s ability to achieve its objectives. These can be classified as financial, government, media, citizen-action, local, general and internal. Marketing plans can be designed focusing on these major publics and its customer markets.

Detailed explanation-4: -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-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.