The macro environmental factors that might affect Tip-Top Accessories would include the economy. Fortunately the company has survived recessions in the past and has been able to continue operating. Customer loyalty, however, is also important as without an established customer base the company would not have been able to survive in difficult economic circumstances. The shop is located in Oxford where there is heavy footfall and a broad demographic which has obviously benefitted the business over the years. Another important macroeconomic factor that should be taken into consideration would be that Tip-Top is one of a number of similar businesses in the local area. This means that they must consider their competitors, making competition another important macroeconomic consideration.
Hiring a new marketing manager could be understood to be a microeconomic factor as it will impact the operating costs of the business and increase its outgoings. This will also change the organisational behavior of the business which is yet another important micro environmental factor. The company's logo is well known and well-established as it has been an important part of the company's identity for three decades. This can also be considered to be an important part of the company and its success and an organisational factor, thus making it another micro environmental factor. The students have been buying materials and goods for the past 30 years from here, forming a strong customer base which can be understood to be a microeconomic and a macro-economic factor as this affects business on a day-to-day basis. Distribution channels include direct marketing through stores which are also a macroeconomic factor.
B. There are two cities that the business is targeting here; Oxford and Headington. The weather conditions in both locations is important. It is important to know which area of the two receives more rainfall per year.
