difference of micro and macro marketing
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Answer:
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Answer:
The main points of difference between micro marketing and macro marketing are given below:
1. Meaning
Micro refers to anything that is small in scale or scope, whereas macro refers to large in scale or scope. Hence, micro marketing is focused on individual steps that are part of an overall process, whereas macro marketing considers this same process in a holistic manner.
2. Scope
Micro marketing is related to anything, ranging from a particular production process to the overall operations of an organization. On the other hand, macro marketing is related to the way the production process is linked to the consumer and to purchase behavior on a global level.
3. Concerns
Micro marketing is concerned with individual consumer behavior, pricing techniques and decisions, distribution channels, the way firms make decisions regarding the products to create and market, decisions related to packaging and promotion and finally, brand image management. Macro marketing, in contrast, is concerned with the laws regulating marketing activities, social responsibility, advertising strategies that are socially acceptable, efficiency of marketing mechanisms and the consumer behavior patterns on the whole.
4. Purchasing target
In micro marketing, the purchasing target is the individual, with the focus being on identifying the likes and requirements of individuals. The purchase target of macro marketing, however, is the highest possible customer base. It is concerned about identifying the segments of society that make up the target audience of its product, and how this product is offered to that target market.
5. Relationships and networks
The aim of micro marketing is to develop lasting and solid relationships with consumers. This process seeks to generate repetitive sales by giving rise to brand loyalty at the individual level. On the other hand, the objective of macro marketing is to ensure that resources are used most effectively at the community level. The macro marketing strategy does not concentrate on generating an individualized network; rather, it aims to develop a network of communities. This enables the brand to concentrate on selling and distributing products to a large number of people, without focusing on developing long-term relationships.
Explanation:
MICRO MARKETING VS MACRO MARKETING
Meaning
Focuses on individual steps of the process. Focuses on the process as a whole.
Scope
Related to production process and overall operations of a company. Related to how the production process is linked to the consumer and the global purchase pattern.
Concerns
Concerned with the individual consumer behavior and the four Ps – product, price, promotion and place. Concerned with laws regulating marketing, social responsibility, efficiency of marketing campaigns and the overall consumer behavior patterns
Purchasing target
The individual The maximum possible consumer base
Relationships and networks
Generate repetitive sales and brand loyalty at the individual level Effective use of resources at the community level; developing a network of communities