Environment of Business: Micro and Macro
Every business is made up of forces that influence the marketing environment of the business. These are generally all the external factors that affect the business. This is further divided into two categories : Macro environment and Micro Environment.
Micro environment generally influence the functionality of a particular business. It comprises of public, customers, competitors, suppliers & marketing intermediaries.
Macro environment is also known as broad environment as it influences the operation of business. It comprises of demographic, economic, social cultural, natural, technological & political-legal.
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