The relevant macro and micro environmental factors that could impact BIC

  1. Discuss the relevant macro and micro environmental factors that could impact BIC. (25 marks)

Both macro and micro environmental factors are essential factors to be put in consideration when implying marketing strategies.  Macro is considered mostly to be an external factor that affects both the business as a whole and production. Micro factors internally affect the marketing channel.

The following are some of the relevant macro-environmental factors that could impact BIC.

  1. Economic factors

The production of BIC products highly relies on economic factors in a given setup. The demand for BIC and BIC products will influence by factors such as taxes offered by specified countries, exchange rates, downturn, inflation, market, and the fluctuating interest rates. A consumer forced to regulate the supply in an even of a recession. The inflation rate, on the other hand, if it goes up, will mean that the BIC products sold would reduce. If taxation is high on the products, then the buyers will be left with no choice but to ignore the products. Hence the product will be reduced, which will eventually affect the industry.

 

  1. Political and legal forces.

Taking into consideration, Laws made in a specified country regulates the taxes and all the sales. Licenses pain for consumers to purchase the BIC products highly depends on laws that govern the country. In a scenario whereby, BIC products are considered inappropriate, bills may be introduced in the country to control all the sales made in the region. If the business negatively does not align with the laws, then the facilitation of BIC products become difficult.

  1. Technological factors

The highly sophisticated machinery promoted technological advancement in BIC and BIC products production. The mechanism, in turn, minimizes labor costs. In the sense that BIC, as a company, embraces technology, this has undoubtedly so far helped the country in production. However, much more needs to be done. Replacing many people with automated machines that deliver the same purpose helps in the reduction of operational costs. As they say with technology, massive produce is produced at a low price. Advertisements done on BIC products promote marketing, which in turn influences production.

  1. Social and cultural forces

BIC is considered a product that positively impacts targeted societies. The product is eco-friendly thus efficient. The fact that BIC crystal pen is none toxic makes it the world’s leading selling pen. A multi-national company such as the BIC Company is significantly affected by socio-cultural forces. The factors are beyond foreign subsidiary. Cooperation with business partners in the host country may vary depending on the cultural beliefs and interactions in the targeted language. This would, in turn, either devalues or promote the sales made.

  1. Demographical forces

The factor is channeled into various components such as the age structure, diversity, household patterns, nature of jobs, population, etc. Education revolves around writing, and if the general population is educated then it means that the uses of BIC as products become common and hence more excellent production. The community that has youthful people would attract the market for BIC products. Such countries as India will be a higher target for the consumers. These changes will have a significant impact on production.

  1. Natural and physical forces

These are far more eco-friendly factors. BIC produces products that are within the environmental guidelines which control the natural factor

 

The following are some of the relevant microenvironmental factors that could impact BIC.

  1. Customers

BIC relies entirely on customers.  In a microenvironment, a customer facilitates the production of produce. Retaining customers will ensure smooth efficiency in production. BIC products have been known worldwide as a top-notch, which has, in recent years, gained billions of customers around the universe. The reality in that has led to more production and thus, facilitating the survival of the BIC products in the market.

  1. Supply and distribution channels.

BIC has been able to develop one of the world’s best supply chains. It has reciprocated well in terms of operational costs. The distribution of BIC products to the doorsteps of the consumers has enabled efficiency and lesser cost. The cutting of distribution cost has facilitated a better market for the goods. The expense of transportation minimizes the cost and thus encourages more orders, and In return, the value for production keeps on multiplying. This efficiency enables cost-effectiveness, and this has enabled the company to be within the customers to reach.

  1. The competition

The number of competitors is always a worry in the marketing world. Updating of business and coming up with different products in the BIC industry has enabled the company to sustain its competitors. Share is always limited for competing companies. They say BIC has invested heavily in brand development, to strengthen the recognition of the brand and its reputation among consumers. This leads to the realization of BIC as the number one company among many companies in a competitive habitat.

  1. The general public

In an ideal goal-oriented micro development, the audience always has a say in either promotion of your products or demotion. To promote positive reviews, BIC considers endorsements in the public domain by making use of the general to do advertisements on products. This supports the facilitation of a positive view on the BIC products. It increases realization as BIC being a significant product within a given society. A positive take on the produce would promote utilization.

  1. Resellers

The 3rd party intermediate persons help in the selling of BIC products. Wholesalers and small business retailers highly facilitate the marketing of these products. Small retailers act as prominent marketers when they are well known as BIC distributers within a given locality. The affirmation that BIC supports retailers by providing bright, eye-catching displays of attractive products enables efficiency in retail marketing. This is a greater boost.

 

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