• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Marketing Assignment - The Macro Market Environment

Extracts from this document...


Andrew Galea MARKETING ASSIGNMENT The Macro Market Environment Before a Company launches a new product it must be aware of the environment that this will be introduced in. This is done to make sure that the product meets all expectations and respects the specifications that are needed to abide by the law. There are a number of factors, which need to be taken into consideration before a product is launched. One of these is the Macro-Market - the National Environment. This consists of the Political Environment, the Economic Environment, the Social & Cultural Environment and the Technological Environment, amongst others. One of the most meaningful aspects that must to be taken into consideration when introducing a new product into the market is the Political Environment. A Company wouldn't introduce a new product in a time of political instability, it would either wait for the waters to calm down, or it may have to be forced to choose another target market. ...read more.


Budgets, inflation, deflation and if he has a job and also the type of job, influence the consumer's income. The spending power of consumers who use their credit card frequently on the other hand would be affected by credit limits and interest rates. The economic situation in the country will help the Company decide on the terms of payment, credit limit, etc. The Social & Cultural Environment helps understand the behaviour of consumers. This includes 'values, perceptions, preferences and behaviours' - Kotler. This is significant because it helps the managers avoid any features in their product, which would not be accepted by the consumers in that particular country. This might be because it goes against their religion, culture or traditions. The Company might want to customise their product according to the country it is sold. For example, McDonald's serve corn soup and teriyaki burgers in Japan and pasta salads in Rome. While in India where cows are considered sacred, McDonalds sell Veggie Burgers instead of beef. ...read more.


The Natural Trends affect mostly the production and the marketing activities of the new goods. Trends in this environment include shortage or scarcity of raw materials and the increase in the cost of energy - which would alter the product's price. As the levels of pollution increase, the public, government and producers are becoming more environmentally aware. These trends are having a significant impact on organisation's marketing strategies. For example McDonalds is very keen on environmentalism. All its napkins, bags, tray liners, carry-out drink trays and even most of the stationery used at headquarters are all made out of recycled materials. Although it costs the company more than $1 billion to purchase recycled materials it helps keep the 'green' image which is so meaningful these days. The macro environment refers to the larger forces that have an impact on society as a whole and not on just one or a few companies. One single firm cannot usually make significant changes to these forces and therefore it can only mold itself around these forces and adapt its marketing mix to compensate for the opportunities and threats that may arise. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Global Interdependence & Economic Transition section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Global Interdependence & Economic Transition essays

  1. Legoland's main target market is families with young children.

    The majority of visits are by local people within the district, this is approximately 10 million a year by the locals. A further 3.5 million are day visits from further afield and 2.5 million are visits by people staying overnight in the area.

  2. 'There is nothing in the Montessori prepared environment that is there by chance.' Discuss.

    (Social, spiritual, physical) * A bathroom fitted with child size toilets and wash basins * The children will be able to use the toilet and wash their hands without having to wait for an adult to assist them. (Social and physical)

  1. The Board of directors of Barclays have asked me to submit a formal business ...

    Barclays as a financial institution works within the political scenario across the 60 countries practically covers the various types of political regimes that we talk about in the current global scenario. Barclays has grown from a group of English partnerships to a global bank in Europe, the USA, Latin America, Africa, the Caribbean, Asia, the Middle East and Australia.

  2. The External Marketing environment

    Well planned strategies can fail in cases where a country or region goes through a rapid economic decline. As incomes drop, spending patterns will shift. Interest rates and inflation also influence spending patterns. Changes in economy are often followed by fluctuations in interest rates, which change the price borrowers pay for products.

  1. Does the Environment matter to Sociology?

    Spencer's work was the first of many attempts to marry Darwinian models of evolution, selection and change to social development. The work of the classical political economists, also directly examined the relationship between the natural environment and the human economic prospect.

  2. Tourism and the Environment

    * incorporation of nature and culture as major considerations. In order to be compatible with the popular wildlife and beach attractions, laws pertaining to wildlife conservation reviewed to take the following aspects into account:- * Integration and sustainable conservation and management of wildlife.

  1. Human Environment

    Infant mortality: The number of infants who die before their first birthday, per 1,000 births. GNP per capita: Gross national product measures the amount of money a country makes from it's products and services, divided by the total population. GDP: Gross Domestic Product.

  2. Leisure & Recreation: An investigation into recent trends

    This also reduces the amount of traffic jams which is a big turnoff if people have to travel a long distance. The future of mobility is hard to predict as it depends on lots of different variables. Such as the price of petrol or other useable sources.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work