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External Micro Environment (Suppliers (firm depends on many suppliers as,…
External Micro Environment
Suppliers
the suppliers consist of all business firms or individuals which provide raw materials, components or semi-finished goods.
firm depends on many suppliers as
capacity of the buyer
a producer to wholesalers or retailers.
buyer-seller relationship is an economically interdependent relationship.
both parties rely on the other for commercial well-being
seeking stability and security from the relationship
factors in the supplier environment is subject to a change
increase in the price of raw materials
forces suppliers to increase prices
Marketing intermediaries
are independent individuals or organisations that directly help in the free flow of goods and services between marketing organisations and customers
they're of two types
Agent
important part in distribution and render their services in different capacities
Merchant
can be wholesalers and retailers
Customers
an individual or household, an organization that purchases a product for use in the production of other products
or an organization that purchases a product for resale at a profit
Target may be grouped as
Consumer Market
individuals and households buying the product for consumption
Industrial Market
organizations buying for producing other goods and services for the purpose of either earning profits or fulfilling other objectives
Reseller Market
organizations buying goods and services with a view to sell them to others for a profit
Government or Non-profit Market
institutions buying goods and services in order to produce public services
International Market
individuals or organizations of other countries buying for their consumption or industrial use or both
Competitors
are rivals business firms in the effort to satisfy the market and consumers' demand
Public
Market