Macro-environment Monash Business School

The microenvironment is a collection of all the forces that are close to the firm. They can influence the performance and day to day operations of the company, but for the short term only. Its elements include suppliers, competitors, marketing intermediaries, customers and the firm itself. The physical environment includes the natural environment in which the business operates. Thus, marketers must watch the technological environment closely and adapt in order to keep up. Otherwise, the products will soon be outdated, [...]