Broad environment
This article covers meaning & overview of Broad environment from marketing perspective.
What is Broad environment?
There are several non-marketing influences that affect the success of marketing decisions and in keeping favorable relationships with all the involved stakeholders.
The overall marketing environment for a business can be classified into two parts: micro and macro environment. While micro or task environment contains company related issues such as production, distribution and promotion of the offering, Macro or broad environment consists of broader societal influences.
The broad environment consists of six components: demographic environment, economic environment, natural environment, technological environment, political-legal environment, and social-cultural environment. The forces of these environments can have a major impact on the actors in the micro environment. The key players in the micro environment must pay close attention to the trends and the developments in these environments and then make timely adjustments to their marketing strategies to evaluate the opportunities.
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