Essay on The Micro and Macro Environment

Essay on The Micro and Macro Environment

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Environmental factors in marketing are classified into two (2) groups the macro and the micro environment. According to the investopedia Macro environment is the conditions that exist in the economy as a whole, rather than in a particular sector or region. In general, the macro environment will include tends in gross domestic product (GDP), inflation, employment, spending and monetary and fiscal policy. The macro environment is closely linked to general business cycles, as opposed to the performance of an individual business sectors.
Micro environment, the aggregation of all elements in or immediately surrounding a business that can affect its performance including its internal environment, its suppliers, its marketing intermediaries, its customers, its competitors and the community.
Factors that affect the business environment in the host country include currency value, transportation cost, language and culture. The value of a currency is done by the banks that deal with foreign exchange; exchanged rate is determined by inflation, national income natural resources and market forces. As a Jamaican company moving into the economy it would be very costly to our firm seeing that with the US reaching a trade deficit it has allowed our Jamaican currency to devalue. To deal with this issue is to allow the government to intervene in the market and buy these US currencies and this will reduce the demand of the currency and allow the US currency to depreciate its value and the Jamaican dollar appreciates in value. This will allow the government to manipulate the exchange rate so that the Jamaican economy can benefit at the expenses of others. In addition the government can revalue the currency as well and this can reduces the cost on the...

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...are implemented by the government and these may include tariffs, subsidies and quotas.
Tariffs are taxes imposed on imported goods or service; custom duties are placed on imports to make prices close to those of the competing domestic product. A subsidy is a form of government payment to a producer. Types of subsidies include tax breaks or low-interest loans; subsidies can also be cash grants and government-equity participation, which are less common because they require a direct use of government resources. Quota is a government-imposed limit or restriction on the number of units or the total value of a particular product or product category that can be imported (keegan, 2009). How Juici can deal with this situation is to go into a trade agreement with the government as the amount of patties can be imported in the market, and how will it benefit their environment.

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