Technological forces are perhaps the most dramatic forces which are changing customer habits by introducing a new product for the customer. Income level, the income of their family members, liquid assets, spending attitude, credit facility, etc., are the economic factors in determining consumers’ buying decisions. If consumers’ purchasing power is weak, they cannot decide to buy goods or services even if they like them very much.īut, if they have purchasing power, they can promptly decide to buy goods or services they like. It also directly affects the purchasing power of consumers.
How do environmental factors affect the consumer decision process? Economic factorsĮconomic factors play an important role in consumer buying behavior decisions. Remains comparatively independent are shaping marketing decisions.įactors may create an opportunity or pose a threat to the marketing activities of an organization.įactors reveal the capabilities of an organization to exploit the opportunities or to combat the threat through its marketing activities. It creates a huge impact on shaping marketing decisions. The marketer interacts with other functional areas of the organization.įactors remain beyond the control of marketers.įactors may be controlled to a large extent by a marketer. Marketer interacts with, the elements prevailing outside the organization.
The differences between macro environments and micro-environments may be relevant to identify in the following table: Point of difference Though not exactly opposites, broad differences exist between macro marketing and micro marketing.
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