Definition
Macroenvironment refers to the collection of uncontrollable forces and conditions facing a person or a company, including demographic, economic, natural, technological, political and cultural forces. [1]
Macromarketing has been defined by scholars as the study of marketing processes, activities, institutions, and results from a broad perspective (such as a nation), in which cultural, political, and social as well as economic interaction are investigated. [1]
This can include investigations into important social issues and how they are affected by marketing. It can also include how society influences the conduct of marketing through cultural norms and laws. [2]
Recently, “macromarketing” has also been applied as a short-hand term for the use of macro-level indicators to refine a firm’s marketing decisions. Common macro-level indicators include consumer confidence, unemployment rate, and inflation rate. This usage of the term has a firm-specific strategic orientation whereas the original meaning applies to an academic field of study. [2]
See Also
References
- American Marketing Association, AMA Dictionary.
- Universal Marketing Dictionary Project, 2023.