Trends in the macro environment that impact the food industry
How Does The External Macro Environment Affect The Company?
No organisation works in vacuum,it is effected by both Internal and external environment.Here external environment is the Macro Environment .The Macro Environment has many elements like the political environment, market conditions, competitors strategy, etc.These factors definitely effect the organisations working.
The macro-environment consists of trends and forces which might not instantly influence the relations that a company has with its clients, suppliers and mediators, but afterward, macro-environmental changes will modify the nature of these relations. For example, change in the country population does not at once change the method in which a company does business with its clients, but eventually, it might change the numbers of infantile or aged people who it is able to do business with.
Macro Environment contains the technological, soical, cultural, legal and political factors. Suppose a company is involved in the the photo editing and making camera softwares for kodak. Now when the overall technology changes in the cameras and editing, the company will now has to make few changes to cope with it. This is how a technological factor in the macro environment affects the business.
Describe environment change and complexity
On the socio-economic part of it is that people don't just buy. Therefore what people buy does not only depend on their income (the money they have) but also depends on they culture.
The increament of crude oil and resulting to fuel increases automatically influences the companies to increase their prices of goods due to the main source of delivery which consumes fuel.
It is defined as large societal forces that affect the micro
environment are known as external macro environment. It consists of:
1: Demography:
It is the study of human population in term of size, density, location,
occupation, age and other statistics. Geographical shifts in population
and a better educated and whiter collar people are part of demography.
2: Economic force:
It affects the consumer buying power and spending pattern. In economic
sense the key market influences consumer income. The management needs
to be aware of the expenditure pattern of consumer at various income
levels. Major economic variable such as income, interest rate, tax
policy plays important role in determining the success of any company
marketing system.
Economic forces related to consumer's upper class, middle class,
working class and underclass as well to market inflation, interest rate
and taxation policy.
3: Competition:
It consist of brand competition for similar product for example Pepsi
and coca cola, Sony and Philips, waves and dawlance etc. And also
substitute products for example, petrol and CNG, tea and coffee etc.
4: Social and cultural forces:
It includes standard of living, religion, fashion, civilization,
education etc. For example; vine is prohibited in social, cultural and
religion. It changes from country to country and from province to
province, from village to village and from particular region to region
etc.
Answered 3 years ago
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Macro
environment is all about the major environs around us. It gives us
information regarding the main things with in an environment. A
marketer must know the value of macro environment as it will give you
high benefit in many ways. He must be habitual in working in micro
environments but macro environment will give him exposure and more
chances of success. This will help him advertise his product in a hi-fi
market. This hi-fi market will be accountable for exploring himself in
a better way. He must know hat he should be adept in getting habitual
with macro environment as he will have more benefit from it.
It is easy to make your place in macro environment but time is a main
factor. It always takes time to be specific and choosy in selecting the
environment. If a marketer wants to get success in macro environment
then he must be fast and efficient. It will be his efficiency and
activeness which will pay him off. Let us take an example. If a person
is a marketer and he is interested to take advantage of macro
environment. He can do it by advertising his product in an efficient
manner.
environment are known as external macro environment. It consists of:
1: Demography:
It is the study of human population in term of size, density, location,
occupation, age and other statistics. Geographical shifts in population
and a better educated and whiter collar people are part of demography.
2: Economic force:
It affects the consumer buying power and spending pattern. In economic
sense the key market influences consumer income. The management needs
to be aware of the expenditure pattern of consumer at various income
levels. Major economic variable such as income, interest rate, tax
policy plays important role in determining the success of any company
marketing system.
Economic forces related to consumer's upper class, middle class,
working class and underclass as well to market inflation, interest rate
and taxation policy.
3: Competition:
It consist of brand competition for similar product for example Pepsi
and coca cola, Sony and Philips, waves and dawlance etc. And also
substitute products for example, petrol and CNG, tea and coffee etc.
4: Social and cultural forces:
It includes standard of living, religion, fashion, civilization,
education etc. For example; vine is prohibited in social, cultural and
religion. It changes from country to country and from province to
province, from village to village and from particular region to region
etc.
Answered 3 years ago
New Comment - Comments are editable for 5 min.
Watch this page
500 characters left
if(!numads)
var numads = 0;
/*console.log('position: Ad03');
console.log('numads: 1');
console.log('skip: '+numads);*/
adsense_ads = new Array();
adsense_ads['ad03'] = new adsenseObject(1,false,false);
google_ad_client = 'pub-1549962111268759'; // substitute your client_id (pub-#)
google_ad_channel = '9476259449, 0253730454';
google_ad_output = 'js';
google_max_num_ads = '1';
google_ad_type = 'text';
//google_image_size = '728x90';
google_feedback = 'on';
google_adtest = 'off';
google_skip = numads;
google_hints = googAds.hints;
numads = numads + 1;
Macro
environment is all about the major environs around us. It gives us
information regarding the main things with in an environment. A
marketer must know the value of macro environment as it will give you
high benefit in many ways. He must be habitual in working in micro
environments but macro environment will give him exposure and more
chances of success. This will help him advertise his product in a hi-fi
market. This hi-fi market will be accountable for exploring himself in
a better way. He must know hat he should be adept in getting habitual
with macro environment as he will have more benefit from it.
It is easy to make your place in macro environment but time is a main
factor. It always takes time to be specific and choosy in selecting the
environment. If a marketer wants to get success in macro environment
then he must be fast and efficient. It will be his efficiency and
activeness which will pay him off. Let us take an example. If a person
is a marketer and he is interested to take advantage of macro
environment. He can do it by advertising his product in an efficient
manner.