18/11/2020
Identify the micro environment factors of my online business:
Micro environment is the actors close to the company that affect its ability to engage and serve its customers—
The Company : The company have to maintain a price schedule for making profit & also the company will have to think about the price so that the customer will buy the product. Marketers can not offer low price unless the operation department delivers low cost.
Suppliers: Suppliers are my important link in the company’s overall customer value delivery network.They provide the resources in my company as I needed to produce my goods and services. Supplier problems can seriously affect marketing. In my marketing strategy I have to look after the supplier availability and costs so that I don't have face any problem.
Marketing Intermediaries : Marketing intermediaries that help the company to promote,sell,and distribute its goods to final buyers.They include resellers, physical distribution firms, marketing services agencies,and financial intermediaries.In my company resellers are wholesalers and retailers who are buying product from the producer and resell the product.Physical distribution help my company to stock and move goods from my points of origin to other destinations.
Competitors : If my company want to greater customer value my company have to satisfy the customers than competitors .competitive marketing strategy is best for all companies. In marketing large company has good position that's why they can easily earn more.But small company follow strategy so that they can compete with large company.In my online business other pages and others shops are my competitor.
Publics : Any group that has an actual or potential interest in or impact on an organization’s ability to achieve its objectives.In my company financial public can impact. If the media published anything which is harmful about that product than my company will face problems.If the government increase the tax rate my product will also increase which can effect my business. Environmentalist group can also create threat.Local public, general public, internal public also has the impact on business to achieve my objectives. Mainly Government,tax regulator agency, media, bank and insurance can create impact on my business.
Customers : Customers are the most important actors in the company’s micro environment. The aim of the entire value delivery network is to engage target customers and create strong relationships with them. If I want to earn profit my company might have target on any or all of five types of customer markets. Consumer markets consist of individuals and households that buy goods and services for personal consumption. Business markets buy goods and services for further processing or use in their production processes, whereas reseller markets buy goods and services to resell at a profit. Government markets consist of government agencies that buy goods and services to produce public services or transfer the goods and services to others who need them.Finally, international markets consist of these buyers in other countries.
