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Macromarketing refers to the impact of a company’s marketing decisions on society beyond sales figures. It is important for marketers to consider the social implications of their decisions, especially in a global economy. Macromarketing can also describe a company’s efforts to market outside the local level.
Macromarketing is a term used for how companies that market their products to customers have an effect on the society in which they live. This is a concept that is gaining increasing importance in a global and interconnected economy, where even local marketing decisions can have a significant impact on a wide range of people who are not in your intended audience. For this reason, marketers must be aware not only of how their decisions reflect on outcomes, but also of the social implications of those decisions. Another way in which the term macromarketing is used is to describe a company that wants to market its products on a national or international level rather than just on a local level.
The main objective of marketers is to make the best possible impression on potential customers regarding the products and services sold by the parent company, with the ultimate intention of retaining these customers for a long period of time. It is important to note, however, that a sincere pursuit of consumers can not only reflect poorly on the company, but can also have an indirect, negative impact on society as a whole. Those who study macromarketing look at the interaction between marketers and consumers and the impact of that interaction on society beyond sales figures.
As an example of a macromarketing problem, imagine a company that sells cereal. He creates a new flavor of heavily sugared cereal and markets this product primarily to children via advertising during cartoons and other children’s programming. While the strategy may increase sales in the short term, this shady technique could damage the company’s brand. Furthermore, it may contribute to poorer health for children who eat the cereal.
Such indirect effects of marketing efforts are the ultimate focus of macromarketing studies. Marketers who think they are operating in a vacuum are unrealistic and may harm society with their practices. It is important for marketers operating internationally to understand the interconnected nature of economies around the world and how their marketing practices can have worldwide implications.
On an individual business level, macromarketing can also describe a company’s efforts to market outside the local level. This strategy is usually tried by companies that want to extend their customer base and increase their share of a specific market. Companies undertaking this effort must understand the higher costs that accompany this effort.
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