What are the various variables of macro-environment?

The various variable of macro-environment are:

1. Demographic environment.
2. Social-Cultural environment.
3. Economic environment.
4. Ethical environment.
5. Political environment.
6. Physical environment.
7. Technological environment.

DEMOGRAPHIC ENVIRONMENT 

It includes factors such as population growth, change in age-group, marriages, family sizes, movement of people from big cities to rural or suburban areas, literacy, etc. The market needs to understand the demographic forces in a country which helps him frame optimal marketing-mix.

SOCIO-CULTURAL ENVIRONMENT 

Sociological Factors 

Consumers being a social animal and their lifestyle is deeply influenced by the social set up. It is found to have a deep influence on consumer taste, temperament, life, and living. The needs, desires, hopes, and aspirations of the consumers are necessary to be understood.

Psychological The study about the behavior, attitude, temperament, mentality, and personality is must and how there wants and needs can be best satisfied?

Anthropological these factors are vital in noting the national and regional characters, cultures and subcultures and the pattern of living.

ECONOMIC ENVIRONMENT  

It comprises of the economic system of the country, affects the demand structure of any industry/product. Changes in economic conditions provide marketers with new challenges and threats. Various economic factors which directly affect the Marketing strategies are discussed below.

Role of Govt: Marketing in greatly influenced by the role of govt. through fiscal policies, industrial regulations, economic controls, import-export policies, etc. Monetary and Non-Monetary policies of the Govt. also determine the tempo of economic development.

Consumers: Consumer welfare and interest should be taken into consideration while preparing a marketing programme. The marketer is to make available quality products at reasonable prices, insufficient qualities, at the required time interval.

Competition: Healthy competition is always in the interest of customers whereas unhealthy competition is harmful and leads toward increasing cost and waste.

Price: It is determinant of the fate of any business. If the Price is too high, reduces the consumer and consumption and if too low, the producers and marketers are left in the lurch.

ETHICAL ENVIRONMENT

In the race of earning more and more profits, business people disintegrate the ethical values from the business. This leads to adulteration, limitation, etc. resulting in socio-economic pollution of minds and relations.

POLITICAL/ LEGAL ENVIRONMENT 

The legal environment for marketing decision is characterized by various laws passed by Central or State Govt. and even by the local administration. Govt. agencies, political parties, pressure groups, and laws create tremendous pressure and constraints for a marketer. Marketing managers required full knowledge and understanding of political philosophy and ideologies of major political groups and the legal environment for framing marketing strategies and growth of the business.

PHYSICAL ENVIRONMENT

It refers to the physical distribution of goods and services. It needs an in-depth study of cost and convenience involved in the process of physical distribution of products from producer to consumer end.

TECHNOLOGICAL ENVIRONMENT 

It helps to shape changes in the living style of the consumers. It has the responsibility of relating changing life-style patterns, values and changing technology to market opportunities for profitable sales to a particular market segment.