What it is:
Macromarketing describes how marketing affects an entire society's demand for goods and services.
How it works/Example:
In many first-world countries, marketing is not just another occupation. It is woven into the fabric of most consumers' daily lives. Just consider the number of marketing messages the average person receives via television, radio, billboards, social media, the Web and print publications, in addition to word-of-mouth advertising, price wars and promotions.
The sheer quantity and nature of marketing in these societies has a profound influence on what consumers buy and what consumers think about. This notion of marketing's broader effects is macromarketing.
Why it matters:
Marketing relates to the pricing, placement and promotion of specific products, but macromarketing describes how marketing influences what a whole society produces and sells.