Understanding the differences between micro and macro goal planning will help to lead you in the direction for achieving your targets with more efficiency and productivity.
Instead of collating all goals as one and overcomplicating the procedure, this approach will essentially breakdown your goals into smaller, shorter-term plans which ultimately contribute to the bigger picture and that is the macro goal.
It is easy for businesses to try and run before they can walk and this way you keep a perspective and realistic route to sustainable business growth.
Micro marketing is used to reach and target a small group of audience. This small segment of consumers/customers is targeted through campaigns and the marketing focuses only these people. Micro marketing is growing rapidly because it is suitable for business of every scale.
For example, a small business finds this type of marketing perfect to target their consumers. Similarly, a corporate or big level business brand can also utilize micro marketing to get to know the small group of consumers. Micro marketing in steps produces more effective outcomes and results.
It is also important to understand how different micro marketing is from mass marketing. In micro marketing, you set small targets which are achieved in a short time. The results provide detailed and comprehensive data as well as insights. It has more focus on customer satisfaction and increase the revenues for a business.
Features of Micro Marketing
These four components or features define micro marketing. You are supposed to find the customers and read them carefully. The product or service price is set according to the consumer needs for better satisfaction.
When the consumers are determined along with price and product decision, next is the promotion of the products. You have to market the products in a way that they reach the target consumers. This also helps find the best relevant data.
Business Tools For Micro-Planning
Website Visitor Tracking
In comparison with micro, macro marketing is more detailed and is done on larger scales. Issues present at the nexus of market and society are addressed in macro marketing. In other words, in macro marketing the issues along with opportunities are studied to improve the shortcomings and address them as well.
The major difference between the two is that macro marketing doesn’t consider individuals or single results. Rather, it has more focus on data as a whole and the total consumers. As it is done on bigger scales, more data is required which comes only when you target more customers.
Macro marketing is more concerned with product selection process like which products should be launched and their marketing. Other aspects include methods of production, brand management, pricing decisions, channels of distribution, the consumer behavior of individuals and promotional decisions.
It also has a broader perspective and targets products on bigger scales. The focus is always to target the maximum consumer base so that long term goals can be achieved. Many experts believe it is the best type of marketing when you want to expand the business, grow the customer base and make your business more reachable to the consumers.
Macro marketing examines social impacts of marketing and sees how things will go in the long run. It deploys the best possible ways to market products and services for the business. Evaluation of benefit for the society are also covered. For future product production, it determines the needs and prospects. In other words, macro marketing has bigger marketing goals and is always future oriented.
You can break your targets down through marketing activity, operations targets, logistical goals and any other areas which relate to the functions of your organisation.
These should be in mind at all times but never expected to happen overnight. That is the overall message.