Macromarketing

DEFINITION of 'Macromarketing'

The effect that marketing policies and strategies have on the economy and society as a whole. Specifically, macromarketing refers to how product, price, place and promotion strategies - the four P's of marketing - create demand for goods and services, and thus influence what is produced and sold in an economy.

BREAKING DOWN 'Macromarketing'

Over the centuries, businesses have become more adept at reaching potential consumers through an expanding set of mediums. Marketing, therefore, has become a part of the daily life of a consumer, since consumers are exposed to advertisements for products and services wherever they turn. Because marketing affects what consumers do, it in turn affects how individuals and businesses interact with the environment as a whole.

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RELATED FAQS
  1. Which economic factors most affect the demand for consumer goods?

    Understand how key economic factors such as inflation, unemployment, interest rates and consumer confidence affect the level ... Read Answer >>
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    Learn more about the impact of supply and demand in an economy. Find out why companies study supply and demand as part of ... Read Answer >>
  3. Where on the internet can I look up price to sales ratios for specific companies?

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  4. Should a small business test the substitution effect on its products before launch?

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  5. What's the difference between the income effect and the price effect?

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    Learn what a market economy is, the main assumption behind a market economy and some important advantages a market economy ... Read Answer >>
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