Eunice D61-83846-2016. Final Project 13-12-2017-unlocked.pdf

Market intermediaries serve the purpose of selling

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Market intermediaries serve the purpose of selling and distribution of a durable product to final buyers as they act as a link between the business firm and its absolute buyers. Marketing intermediaries' entails agents and merchants like retailers and distribution companies and their primary role is to stock and transport goods from the manufacturing site to the buyers. They can also consist of service agencies such as consulting and advertising firms, marketing research and advertisement organizations that support business firms in promoting, targeting and selling their products to the right market (Singh, 2015). Customers are individuals, businesses, industries, government and other institutions that absorb the output of an organization and the existent company on the verge of meeting their demands. Firms, therefore, need to make continuous efforts of improving product quality if they intend to attract customers. Competitors in the external macro business environment are companies that compete with each other in all business field areas. Monopolistic and absolute monopolies markets compete with each other for product sale by pricing. There are also non-pricing competitions whereby firms engage in competition through events sponsoring and aggressive advertising in the endeavor of proving their superiority nature to their company products (Steers & Nardon, 2014). The general public remains a significant stakeholder in the external micro business environment as they impact on a cooperative ability to achieve their goals. The public as a whole is consistent with environmentalists,
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15 local groups, citizen associations and consumer protection groups that influence on the components in secure environments. External Macro Environment External Macro Environments are forces and institutions that do not operate within an organization but have the potential of impacting on the company’s performance. The external business macro environments are unique as firm management cannot control them, and hence the companies are forced to adjust to fit into external macro environment forces. Factors influencing external business macro environment are categorized into; Economic, social, political, legal, technological and demographic factors (Carroll & Buchholtz, 2014). Economic environments are economic systems that exist in the nature and structure of the economy, government policies, and government foreign investment policies and the phase of business cycle. Fiscal, international trade and government foreign investments are also part of government economic policies that present opportunities and threats for business cooperatives. However, since 1991, there has been an evolution in economic policies which have fostered changes in macroeconomic business environments especially in private sector firms (Carroll & Buchholtz, 2014).
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