Different subdivisions of economics relevant to marketing:

1. Consumer Economics: Focuses on the behavior and decision-making processes of

individual consumers, including preferences, demand patterns, and purchasing
behavior.

2. Industrial Organization: Examines the structure, conduct, and performance of

markets and industries, including market power, competition, and pricing strategies
adopted by firms.

3. Behavioral Economics: Investigates how psychological factors influence economic

decisions, including consumer choices, biases, and heuristics, relevant for
understanding consumer behavior and marketing strategies.

4. Microeconomics: Studies the behavior of individual agents, such as consumers,

firms, and markets, providing insights into pricing, production, and allocation of
resources, essential for understanding market dynamics.

5. Macroeconomics: Analyzes aggregate economic phenomena such as inflation,

unemployment, and economic growth, offering a broader context for marketing
strategies by considering overall economic conditions and trends.

6. International Economics: Explores trade, finance, and economic interactions

between countries, relevant for global marketing strategies, including market
entry, export-import decisions, and exchange rate management.

7. Development Economics: Investigates economic growth, poverty alleviation, and

development policies, providing insights into consumer behavior and market dynamics
in emerging markets and developing economies.

8. Applied Economics: Applies economic theory and methods to real-world issues and
problems, offering practical solutions and strategies for marketing practitioners
in areas such as pricing, advertising, and market research.

9. Labor Economics: Studies the labor market, including employment, wages, and
human capital, relevant for understanding consumer income, purchasing power, and
labor market trends affecting marketing strategies.

10. Environmental Economics: Examines the economic implications of environmental

issues, such as pollution, natural resource depletion, and sustainability,
providing insights into consumer preferences for environmentally friendly products
and green marketing strategies.