What is Macro-marketing?
Macromarketing or macro-marketing is the field that studies the influence that marketing strategies and policies have on the economy and society as a whole and how to implement them for its welfare.
This field is based on the analysis of how the 4 P’s of marketing, Product, Price, Place, and Promotion, interact with society and affect the supply and demand of products or services and, therefore, the level of production.
Why is Macromarketing important?
Today, marketing activities directly influence consumers’ lives as well as the way they respond to other people, the community, or their environment.
This is why macro-marketing emerges as an invaluable area based on the study of the relationship between the marketing of products or services with society to create marketing strategies that preserve the values of inclusion, justice, and sustainability.
Scholars differ among themselves as to why macromarketing is important: some say it is based on understanding how people and societies create, adapt, and learn; others say it is the conscience of marketing; some believe it is important because it uses scientific and objective evidence to conduct its studies.
What they all agree on is that this interdisciplinary field is mainly based on preserving the values of society over time.
Difference between Micromarketing and Macromarketing.
When talking about micromarketing and macromarketing there are multiple differences; some of the best known are mentioned below:
Strategy:
Micromarketing focuses its attention on the planning of the elaboration of the different products or services, the form of promotion that they will have, and what will be the estimated price. Macromarketing, on the other hand, focuses its efforts on how the production process relates to the consumer, which are the distribution channels and the behavior throughout society.
Audience:
Micromarketing directs its strategy to a small group of people and limited parameters such as postal area, while macromarketing encompasses society globally.
Cost:
Generally, micromarketing strategy and approach is more expensive than macromarketing due to a lack of economies of scale. If, for example, you have to customize a series of ads to a specific audience, this will cost you more than making ads to mass broadcast to a general audience.
Purchase targeting:
In micromarketing, the purchase target is the person as an individual, what are their tastes, preferences, needs, among others.
Now when talking about macro marketing, the purchase objective is the largest possible number of customers, analyzing them by segments and by how the product or service is offered to them.
Relationships:
The purpose of micromarketing is to maintain solid relationships over time and increase sales and brand loyalty in individuals. Macromarketing, on the other hand, does not seek to establish individual relationships but aims to ensure that resources are used and distributed effectively throughout the community in a sustainable manner.
Macromarketing example.
A clear example of macro-marketing is when the government of a country uses it to promote a place that has the necessary infrastructure for tourism, making it known to an audience outside its borders to generate revenue.