Macro forecasting is related to forecasting external forces that affect the firm. This is concerned with forecasting the markets and determining market demand, supplies and other external factors such as legal, cultural, economic and technological environments
Micro forecasting is concerned with forecasting internal environments such as sales forecasts, market share and product life cycles. These can be described as factors which firm has control over or able to acquire information to forecast what will happen. For example, a company can check its sales records to forecast next months' sales
