BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The company
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The Suppliers and Intermediaries
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Customers
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The economic environment
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Detailed explanation-1: -Technology is not part of the micro environment.
Detailed explanation-2: -Micro Environmental factors 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. Six components of micro environment are: Company, Suppliers, Marketing Intermediaries, Competitors, General Public and the Customers.
Detailed explanation-3: -These are Political, Economical, Social, Technological, Legal and Environmental. Hence, competitive forces are not a part of macro environment.
Detailed explanation-4: -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. Examples of these factors include demographic, ecological, political, economic, socio-cultural, and technological factors.