GENERAL KNOWLEDGE

Detailed explanation-1: -The company’s marketing environment also includes various publics. A public is any group that has an actual or potential interest in or impact on an organization’s ability to achieve its objectives. We can identify seven types of publics: Financial publics: This group can affect the company’s ability to obtain funds.

Detailed explanation-2: -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-3: -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-4: -A micro environment is the immediate surroundings of a company or organization, including suppliers, customers, and competitors. The micro environment is also known as the internal environment, the operating environment, and the business environment.

Detailed explanation-5: -Public as a Microenvironment Factor The public can be any individual who isn’t an interested audience for the organization. However, their opinion can be crucial for business success. It’s so powerful that it can build or destroy a company’s image.